Bayesian Capital Management LP Purchases New Shares in AdaptHealth Corp. (NASDAQ:AHCO)

Bayesian Capital Management LP purchased a new stake in shares of AdaptHealth Corp. (NASDAQ:AHCO) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 36,343 shares of the company’s stock, valued at approximately $418,000.

Several other hedge funds also recently made changes to their positions in AHCO. Wakefield Asset Management LLLP purchased a new position in AdaptHealth during the first quarter valued at $1,007,000. Federated Hermes Inc. raised its stake in AdaptHealth by 672.8% during the fourth quarter. Federated Hermes Inc. now owns 705,125 shares of the company’s stock valued at $5,140,000 after buying an additional 613,882 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in AdaptHealth during the first quarter valued at $2,242,000. Reinhart Partners LLC. raised its stake in AdaptHealth by 3.6% during the first quarter. Reinhart Partners LLC. now owns 4,210,211 shares of the company’s stock valued at $48,460,000 after buying an additional 144,516 shares during the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in AdaptHealth during the first quarter valued at $4,240,000. 82.67% of the stock is currently owned by institutional investors.

AdaptHealth Stock Down 0.8 %

Shares of AHCO stock traded down $0.09 during mid-day trading on Wednesday, hitting $11.32. The company’s stock had a trading volume of 44,937 shares, compared to its average volume of 1,035,032. AdaptHealth Corp. has a 52-week low of $6.37 and a 52-week high of $15.37. The business has a 50-day moving average price of $10.50 and a 200 day moving average price of $9.68. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.11 and a current ratio of 1.33. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of -2.15, a PEG ratio of 0.78 and a beta of 1.10.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). AdaptHealth had a negative net margin of 21.45% and a positive return on equity of 8.47%. The firm had revenue of $792.50 million for the quarter, compared to analysts’ expectations of $771.08 million. Research analysts predict that AdaptHealth Corp. will post 0.82 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Truist Financial reiterated a “buy” rating and set a $13.00 price objective on shares of AdaptHealth in a research note on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, AdaptHealth has a consensus rating of “Hold” and a consensus price target of $10.70.

AdaptHealth Company Profile

AdaptHealth Corp., together with its subsidiaries, sells home medical equipment (HME), medical supplies, and home and related services in the United States. The company provides sleep therapy equipment, supplies, and related services, such as CPAP and bi-PAP services to individuals suffering from obstructive sleep apnea; medical devices and supplies, including continuous glucose monitors and insulin pumps for the treatment of diabetes; HME to patients discharged from acute care and other facilities; oxygen and related chronic therapy services in the home; and other HME devices and supplies on behalf of chronically ill patients with wound care, urological, incontinence, ostomy, and nutritional supply needs.