BlackRock Fund Advisors has recently announced that it has increased stake in AdaptHealth Corp (NASDAQ:AHCO) by 11.89%. After grabbing 12.08 million shares, the institutional investor is now in possession of 1.28 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 8.86% having worth around $102.42 million. Moreover, The Vanguard Group, Inc. increased its share by 0.27 million to have a control over 8.4 million shares. And Reinhart Partners, Inc. raised its holdings to 0.57 million shares by acquiring 3.62 million shares or 2.66% of the stake.
AdaptHealth Corp (AHCO) concluded trading on 12/21/23 at a closing price of $7.15, with 2.67 million shares of worth about $19.07 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -24.97% during that period and on Thursday the price saw a gain of about 10.17%. Currently the company’s common shares owned by public are about 134.44M shares, out of which, 73.99M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 67 times over the past 12 months. They bought 1,209,307 shares in 20 of the transactions. In 47 selling transactions, insiders dumped 11,466,407 shares.
iShares Core S&P Small Cap ETF, Fidelity Value Fund, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in AdaptHealth Corp iShares Core S&P Small Cap ETF is currently holding 5.49 million shares of worth totaling $46.52 million. The company recently came buying 3042.0 shares which brought its stake up to 4.02% of the company’s outstanding shares. Vanguard Total Stock Market ETF, after buying 2.34 million shares, have now control over 1.71% of the stake in the company. It holds 0.0 shares of worth $19.83 million.
AdaptHealth Corp (NASDAQ: AHCO) started trading at $6.66, above $0.17 from concluding price of the previous day. However, the stock later moved at a day high price of 7.41, or with a gain of 10.17%. Stock saw a price change of -17.91% in past 5 days and over the past one month there was a price change of -14.06%. Year-to-date (YTD), AHCO shares are showing a performance of -62.80% which decreased to -62.41% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $6.37 but also hit the highest price of $22.94 during that period. The average intraday trading volume for AdaptHealth Corp shares is 1.30 million. The stock is currently trading -14.08% below its 20-day simple moving average (SMA20), while that difference is down -9.66% for SMA50 and it goes to -33.35% lower than SMA200.
BlackRock Fund Advisors acquired 12.08 million shares of AdaptHealth Corp having value of about $102.42 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 1.28 million shares in the company valued at close to $9174422.4, or have control over 11.89% stake in the company. AdaptHealth Corp (NASDAQ: AHCO) currently have 134.44M outstanding shares and institutions hold larger chunk of about 57.40% of that. Holding of mutual funds in the company is about 32.96% while other institutional holders and individual stake holders have control over 51.33% and 24.56% of the stake respectively.
The stock has a current market capitalization of $975.19M and its 3Y-monthly beta is at 0.90. It has posted earnings per share of -$3.35 in the same period. It has Quick Ratio of 1.05 while making debt-to-equity ratio of 1.33. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for AHCO, volatility over the week remained 12.29% while standing at 7.80% over the month.
Analysts are in expectations that AdaptHealth Corp (AHCO) stock would likely to be making an EPS of $0.18 in the current quarter, while forecast for next quarter EPS is $0.07 and it is $0.73 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.12 which is $0.24 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.02 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 13.46% while it is estimated to decrease by -3.59% in next year.
Analysts at 10 brokerage firms have issued recommendations for the AdaptHealth Corp (AHCO)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.80. Out of those 10 Wall Street analysts, 6 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BofA Securities on November 08, 2023 offering an Underperform rating for the stock and assigned a target price range of between $9.50 and $6.50 to it.
