AdaptHealth Corp. (NASDAQ:AHCO) Stock Position Lifted by Quest Partners LLC

Quest Partners LLC lifted its position in AdaptHealth Corp. (NASDAQ:AHCO) by 11,522.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,228 shares of the company’s stock after acquiring an additional 10,140 shares during the quarter. Quest Partners LLC’s holdings in AdaptHealth were worth $102,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in AdaptHealth by 8.9% in the first quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock worth $115,304,000 after purchasing an additional 818,241 shares during the period. Reinhart Partners LLC. boosted its holdings in shares of AdaptHealth by 1.4% in the 2nd quarter. Reinhart Partners LLC. now owns 4,269,303 shares of the company’s stock valued at $42,693,000 after buying an additional 59,092 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of AdaptHealth by 21.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,040,947 shares of the company’s stock valued at $7,589,000 after buying an additional 183,135 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of AdaptHealth by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 746,211 shares of the company’s stock worth $7,462,000 after purchasing an additional 20,599 shares during the period. Finally, First Eagle Investment Management LLC lifted its stake in AdaptHealth by 18.2% in the first quarter. First Eagle Investment Management LLC now owns 594,951 shares of the company’s stock valued at $6,848,000 after buying an additional 91,772 shares during the last quarter. 82.67% of the stock is currently owned by institutional investors.

AdaptHealth Stock Up 4.8 %

Shares of AdaptHealth stock opened at $11.43 on Tuesday. AdaptHealth Corp. has a 1-year low of $6.37 and a 1-year high of $11.90. The company has a market capitalization of $1.52 billion, a P/E ratio of -2.17, a PEG ratio of 1.75 and a beta of 1.10. The business’s fifty day moving average price is $10.66 and its two-hundred day moving average price is $10.42. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.15 and a quick ratio of 0.94.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). The company had revenue of $805.98 million during the quarter, compared to analyst estimates of $802.62 million. AdaptHealth had a positive return on equity of 9.58% and a negative net margin of 21.20%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 EPS. As a group, research analysts forecast that AdaptHealth Corp. will post 0.87 EPS for the current year.

Insider Activity

In related news, Director David Solomon Williams III sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $11.26, for a total transaction of $45,040.00. Following the sale, the director now owns 36,899 shares of the company’s stock, valued at $415,482.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.43% of the company’s stock.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price objective on shares of AdaptHealth in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, AdaptHealth currently has an average rating of “Hold” and a consensus target price 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.