MBB Public Markets I LLC Takes $142,000 Position in AdaptHealth Corp. (NASDAQ:AHCO)

MBB Public Markets I LLC bought a new stake in AdaptHealth Corp. (NASDAQ:AHCO) during the second quarter, HoldingsChannel reports. The fund bought 14,220 shares of the company’s stock, valued at approximately $142,000.

Several other hedge funds have also recently added to or reduced their stakes in AHCO. Dark Forest Capital Management LP purchased a new position in shares of AdaptHealth during the second quarter worth approximately $384,000. Caxton Associates LP bought a new position in shares of AdaptHealth during the 2nd quarter valued at $383,000. Bank of Montreal Can raised its position in AdaptHealth by 255.9% in the 2nd quarter. Bank of Montreal Can now owns 77,119 shares of the company’s stock worth $773,000 after purchasing an additional 55,448 shares during the period. Public Sector Pension Investment Board lifted its stake in AdaptHealth by 1.2% in the second quarter. Public Sector Pension Investment Board now owns 171,877 shares of the company’s stock worth $1,719,000 after purchasing an additional 2,060 shares during the last quarter. Finally, Sei Investments Co. boosted its position in AdaptHealth by 27.8% during the second quarter. Sei Investments Co. now owns 262,475 shares of the company’s stock valued at $2,625,000 after buying an additional 57,018 shares during the period. Institutional investors own 82.67% of the company’s stock.

AdaptHealth Stock Down 1.6 %

NASDAQ AHCO opened at $10.82 on Thursday. AdaptHealth Corp. has a 1 year low of $6.37 and a 1 year high of $11.90. The stock has a market capitalization of $1.44 billion, a PE ratio of -2.05, a PEG ratio of 1.73 and a beta of 1.10. 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 business’s 50-day moving average is $10.72 and its 200 day moving average is $10.45.

AdaptHealth (NASDAQ:AHCO) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates 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%. AdaptHealth’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 earnings per share. Sell-side analysts forecast that AdaptHealth Corp. will post 0.87 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price objective 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 issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.70.

Insider Buying and Selling at AdaptHealth

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

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.