State of Alaska Department of Revenue Boosts Stake in AdaptHealth Corp. (NASDAQ:AHCO)

State of Alaska Department of Revenue boosted its stake in AdaptHealth Corp. (NASDAQ:AHCO) by 31.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,304 shares of the company’s stock after buying an additional 14,438 shares during the quarter. State of Alaska Department of Revenue’s holdings in AdaptHealth were worth $677,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AHCO. Covestor Ltd lifted 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 in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of AdaptHealth during the 2nd quarter worth $58,000. Blue Trust Inc. purchased a new position in shares of AdaptHealth during the 2nd quarter worth $85,000. Innealta Capital LLC purchased a new position in shares of AdaptHealth during the 2nd quarter worth $101,000. Finally, Quest Partners LLC lifted its stake in shares of AdaptHealth by 11,522.7% during the 2nd quarter. Quest Partners LLC now owns 10,228 shares of the company’s stock worth $102,000 after purchasing an additional 10,140 shares during the period. Hedge funds and other institutional investors own 82.67% of the company’s stock.

AdaptHealth Stock Up 10.9 %

Shares of NASDAQ AHCO opened at $10.18 on Thursday. AdaptHealth Corp. has a 12-month low of $6.37 and a 12-month high of $11.90. The company has a market cap of $1.37 billion, a P/E ratio of -1.95, a P/E/G ratio of 1.63 and a beta of 1.11. 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 fifty day moving average price of $10.74 and a 200 day moving average price of $10.44.

AdaptHealth (NASDAQ:AHCO) last announced its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.02). AdaptHealth had a negative net margin of 21.20% and a positive return on equity of 9.58%. The business had revenue of $805.90 million for the quarter, compared to analyst estimates of $809.32 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. Research analysts anticipate that AdaptHealth Corp. will post 0.87 EPS for the current fiscal year.

Insider Transactions at AdaptHealth

In other 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 transaction of $45,040.00. Following the transaction, the director now owns 36,899 shares of the company’s stock, valued at approximately $415,482.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $45,040.00. Following the transaction, the director now owns 36,899 shares of the company’s stock, valued at $415,482.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Shaw Rietkerk sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were 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 in the company, valued at $2,389,747.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on AHCO shares. Canaccord Genuity Group reduced their price target on AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $13.00 price objective on shares of AdaptHealth in a report on Monday, August 12th. UBS Group dropped their price objective on AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Robert W. Baird dropped their price objective on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AdaptHealth currently has an average rating of “Moderate Buy” and a consensus target price of $11.36.

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.