Cornercap Investment Counsel Inc. Sells 23,414 Shares of AdaptHealth Corp. (NASDAQ:AHCO)

Cornercap Investment Counsel Inc. lowered its position in AdaptHealth Corp. (NASDAQ:AHCO) by 50.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 23,292 shares of the company’s stock after selling 23,414 shares during the period. Cornercap Investment Counsel Inc.’s holdings in AdaptHealth were worth $262,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Boston Partners bought a new stake in AdaptHealth in the 1st quarter worth about $693,000. Russell Investments Group Ltd. bought a new position in shares of AdaptHealth during the 1st quarter valued at $2,242,000. Vanguard Group Inc. increased its stake in 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 during the period. Harbor Capital Advisors Inc. raised its stake in shares of AdaptHealth by 142.9% during the third quarter. Harbor Capital Advisors Inc. now owns 449,840 shares of the company’s stock valued at $5,052,000 after acquiring an additional 264,610 shares during the last quarter. Finally, Reinhart Partners LLC. boosted its holdings in AdaptHealth by 45.2% in the third quarter. Reinhart Partners LLC. now owns 6,198,642 shares of the company’s stock valued at $69,611,000 after acquiring an additional 1,929,339 shares in the last quarter. 82.67% of the stock is owned by institutional investors.

AdaptHealth Trading Down 0.7 %

NASDAQ:AHCO opened at $9.57 on Tuesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.00 and a current ratio of 1.24. The firm has a 50-day simple moving average of $10.58 and a 200-day simple moving average of $10.46. AdaptHealth Corp. has a one year low of $6.43 and a one year high of $11.90. The firm has a market cap of $1.29 billion, a P/E ratio of -5.80, a P/E/G ratio of 1.34 and a beta of 1.11.

AdaptHealth (NASDAQ:AHCO) last posted its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The company had revenue of $805.90 million for the quarter, compared to analysts’ expectations of $809.32 million. AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 EPS. Equities analysts anticipate that AdaptHealth Corp. will post 0.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other AdaptHealth news, COO Shaw Rietkerk sold 25,000 shares of AdaptHealth stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.24, for a total transaction of $281,000.00. Following the completion of the sale, the chief operating officer now owns 212,611 shares of the company’s stock, valued at approximately $2,389,747.64. The trade was a 10.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 in the company, valued at approximately $415,482.74. The trade was a 9.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.43% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price objective on shares of AdaptHealth in a report on Monday, August 12th. Truist Financial cut their price target on AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Friday. UBS Group dropped their price objective on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Robert W. Baird reduced their price target on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, Canaccord Genuity Group cut their target price on AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $12.00.

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.