AdaptHealth Corp. (NASDAQ:AHCO) Stake Raised by Divisadero Street Capital Management LP

Divisadero Street Capital Management LP raised its holdings in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 179.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,161,592 shares of the company’s stock after purchasing an additional 746,340 shares during the period. AdaptHealth accounts for approximately 1.8% of Divisadero Street Capital Management LP’s portfolio, making the stock its 14th biggest holding. Divisadero Street Capital Management LP’s holdings in AdaptHealth were worth $11,616,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Wakefield Asset Management LLLP acquired a new stake in shares of AdaptHealth during the first quarter worth approximately $1,007,000. Boston Partners acquired a new position in shares of AdaptHealth in the first quarter worth $693,000. Russell Investments Group Ltd. acquired a new position in shares of AdaptHealth in the first quarter worth $2,242,000. Reinhart Partners LLC. increased its stake in shares of AdaptHealth by 3.6% in the first quarter. Reinhart Partners LLC. now owns 4,210,211 shares of the company’s stock worth $48,460,000 after acquiring an additional 144,516 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in AdaptHealth during the first quarter valued at $4,240,000. Institutional investors and hedge funds own 82.67% of the company’s stock.

Insider Activity

In related news, Director David Solomon Williams III sold 4,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $415,482.74. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.43% of the company’s stock.

Analyst Ratings Changes

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

AdaptHealth Trading Down 0.3 %

Shares of NASDAQ:AHCO opened at $11.30 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $1.51 billion, a PE ratio of -2.14, a P/E/G 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. The firm has a fifty day moving average price of $10.74 and a 200 day moving average price of $10.43.

AdaptHealth (NASDAQ:AHCO) last released 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). AdaptHealth had a positive return on equity of 9.58% and a negative net margin of 21.20%. The company had revenue of $805.98 million for the quarter, compared to the consensus estimate of $802.62 million. During the same quarter last year, the company posted $0.16 EPS. The business’s revenue was up 1.6% compared to the same quarter last year. Analysts expect that AdaptHealth Corp. will post 0.87 EPS for the current fiscal year.

About AdaptHealth

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.