Public Sector Pension Investment Board Boosts Stake in AdaptHealth Corp. (NASDAQ:AHCO)

Public Sector Pension Investment Board lifted its stake in AdaptHealth Corp. (NASDAQ:AHCO) by 1.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,877 shares of the company’s stock after purchasing an additional 2,060 shares during the period. Public Sector Pension Investment Board’s holdings in AdaptHealth were worth $1,719,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of AdaptHealth by 8.9% in the 1st 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 in the last quarter. Reinhart Partners LLC. boosted its holdings in AdaptHealth by 1.4% in the 2nd quarter. Reinhart Partners LLC. now owns 4,269,303 shares of the company’s stock worth $42,693,000 after buying an additional 59,092 shares during the period. Dimensional Fund Advisors LP boosted its holdings in AdaptHealth by 43.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,327,738 shares of the company’s stock worth $23,277,000 after buying an additional 710,131 shares during the period. Divisadero Street Capital Management LP boosted its holdings in AdaptHealth by 179.7% in the 2nd quarter. Divisadero Street Capital Management LP now owns 1,161,592 shares of the company’s stock worth $11,616,000 after buying an additional 746,340 shares during the period. Finally, First Eagle Investment Management LLC boosted its holdings in AdaptHealth by 50.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 897,752 shares of the company’s stock worth $8,978,000 after buying an additional 302,801 shares during the period. 82.67% of the stock is currently owned by hedge funds and other institutional investors.

AdaptHealth Trading Up 0.9 %

Shares of AdaptHealth stock opened at $11.23 on Tuesday. The company has a market capitalization of $1.50 billion, a P/E ratio of -2.13, a P/E/G ratio of 1.73 and a beta of 1.10. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.15. The company has a fifty day moving average of $10.73 and a 200 day moving average of $10.44. AdaptHealth Corp. has a fifty-two week low of $6.37 and a fifty-two week high of $11.90.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). AdaptHealth had a negative net margin of 21.20% and a positive return on equity of 9.58%. The company had revenue of $805.98 million for the quarter, compared to the consensus estimate of $802.62 million. During the same period last year, the company earned $0.16 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, sell-side analysts anticipate that AdaptHealth Corp. will post 0.87 earnings per share for the current fiscal year.

Insider Buying and Selling at AdaptHealth

In other AdaptHealth news, Director David Solomon Williams III sold 4,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $11.26, for a total transaction of $45,040.00. Following the completion of the transaction, the director now owns 36,899 shares of the company’s stock, valued at approximately $415,482.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Shaw Rietkerk sold 25,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $11.24, for a total value of $281,000.00. Following the completion of the transaction, the chief operating officer now owns 212,611 shares of the company’s stock, valued at approximately $2,389,747.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David Solomon Williams III sold 4,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $11.26, for a total transaction of $45,040.00. Following the completion of the transaction, the director now directly owns 36,899 shares of the company’s stock, valued at approximately $415,482.74. The disclosure for this sale can be found here. Insiders own 4.43% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 target price on shares of AdaptHealth in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, AdaptHealth presently has a consensus rating of “Hold” and a consensus target price of $10.70.

AdaptHealth 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.