Sei Investments Co. Grows Stock Holdings in AdaptHealth Corp. (NASDAQ:AHCO)

Sei Investments Co. raised its stake in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 27.8% in the 2nd quarter, Holdings Channel reports. The fund owned 262,475 shares of the company’s stock after acquiring an additional 57,018 shares during the quarter. Sei Investments Co.’s holdings in AdaptHealth were worth $2,625,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in shares of AdaptHealth by 197.1% in the first quarter. GAMMA Investing LLC now owns 2,537 shares of the company’s stock valued at $29,000 after purchasing an additional 1,683 shares during the period. Covestor Ltd increased its stake in AdaptHealth by 279.6% in the 1st quarter. Covestor Ltd now owns 3,109 shares of the company’s stock valued at $36,000 after buying an additional 2,290 shares during the period. Canada Pension Plan Investment Board purchased a new position in AdaptHealth during the 2nd quarter worth $58,000. Blue Trust Inc. acquired a new stake in shares of AdaptHealth in the 2nd quarter worth $85,000. Finally, Innealta Capital LLC purchased a new stake in shares of AdaptHealth in the second quarter valued at about $101,000. 82.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

AdaptHealth Stock Up 0.3 %

AHCO stock opened at $10.44 on Friday. AdaptHealth Corp. has a 52 week low of $6.37 and a 52 week high of $11.90. 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 company has a market cap of $1.39 billion, a P/E ratio of -1.98, a P/E/G ratio of 1.73 and a beta of 1.10. The company’s 50-day moving average price is $10.68 and its 200 day moving average price is $10.45.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results 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 firm had revenue of $805.98 million during the quarter, compared to analyst estimates of $802.62 million. AdaptHealth had a positive return on equity of 9.58% and a negative net margin of 21.20%. The business’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. On average, research analysts expect that AdaptHealth Corp. will post 0.87 earnings per share for the current fiscal year.

Insider Activity

In related 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 value of $45,040.00. Following the sale, the director now directly owns 36,899 shares of the company’s stock, valued at approximately $415,482.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Shaw Rietkerk sold 25,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was 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 directly owns 212,611 shares of the company’s stock, valued at $2,389,747.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 value of $45,040.00. Following the completion of the sale, the director now owns 36,899 shares in the company, valued at $415,482.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.43% of the company’s stock.

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.