Johnson Investment Counsel Inc. Invests $115,000 in AdaptHealth Corp. (NASDAQ:AHCO)

Johnson Investment Counsel Inc. purchased a new position in shares of AdaptHealth Corp. (NASDAQ:AHCO) during the second quarter, HoldingsChannel reports. The firm purchased 11,544 shares of the company’s stock, valued at approximately $115,000.

Other hedge funds have also bought and sold shares of the company. Cornercap Investment Counsel Inc. increased its stake in AdaptHealth by 2.8% in the second quarter. Cornercap Investment Counsel Inc. now owns 46,706 shares of the company’s stock valued at $467,000 after purchasing an additional 1,254 shares in the last quarter. American Century Companies Inc. boosted its stake in AdaptHealth by 25.0% in the second quarter. American Century Companies Inc. now owns 116,122 shares of the company’s stock valued at $1,161,000 after acquiring an additional 23,215 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in AdaptHealth by 11.9% in the second quarter. Texas Permanent School Fund Corp now owns 79,704 shares of the company’s stock valued at $797,000 after acquiring an additional 8,503 shares during the last quarter. Quest Partners LLC boosted its stake in AdaptHealth by 11,522.7% in the second quarter. Quest Partners LLC now owns 10,228 shares of the company’s stock valued at $102,000 after acquiring an additional 10,140 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of AdaptHealth in the second quarter valued at approximately $151,000. Institutional investors own 82.67% of the company’s stock.

AdaptHealth Stock Up 1.0 %

Shares of AdaptHealth stock opened at $10.90 on Monday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.15 and a quick ratio of 0.94. The company has a 50-day moving average of $10.62 and a 200 day moving average of $10.41. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -2.07, a PEG ratio of 1.75 and a beta of 1.10. AdaptHealth Corp. has a 1 year low of $6.37 and a 1 year high of $11.90.

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

Analyst Ratings Changes

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

Insider Buying and Selling at AdaptHealth

In other AdaptHealth news, Director David Solomon Williams III sold 4,000 shares of the firm’s 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 sale, the director now directly owns 36,899 shares in the company, valued at approximately $415,482.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.43% of the stock is owned by company insiders.

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.