AdaptHealth Corp. (NASDAQ:AHCO) Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. increased its stake in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 289.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 185,230 shares of the company’s stock after purchasing an additional 137,727 shares during the period. Harbor Capital Advisors Inc. owned 0.14% of AdaptHealth worth $1,852,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of AHCO. Wakefield Asset Management LLLP purchased a new stake in AdaptHealth during the 1st quarter valued at about $1,007,000. Federated Hermes Inc. grew its stake in AdaptHealth by 672.8% during the 4th quarter. Federated Hermes Inc. now owns 705,125 shares of the company’s stock valued at $5,140,000 after acquiring an additional 613,882 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in AdaptHealth during the 1st quarter valued at about $2,242,000. Reinhart Partners LLC. grew its stake in AdaptHealth by 3.6% during the 1st quarter. Reinhart Partners LLC. now owns 4,210,211 shares of the company’s stock valued at $48,460,000 after acquiring an additional 144,516 shares in the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new stake in AdaptHealth during the 1st quarter valued at about $4,240,000. Institutional investors and hedge funds own 82.67% of the company’s stock.

AdaptHealth Trading Up 4.8 %

Shares of AdaptHealth stock traded up $0.42 during mid-day trading on Wednesday, hitting $9.08. The stock had a trading volume of 1,791,955 shares, compared to its average volume of 1,068,064. The firm has a 50-day moving average of $10.57 and a two-hundred day moving average of $9.81. AdaptHealth Corp. has a 12-month low of $6.37 and a 12-month high of $15.37. The company has a quick ratio of 1.11, a current ratio of 1.33 and a debt-to-equity ratio of 1.48. The firm has a market cap of $1.21 billion, a P/E ratio of -1.76, a price-to-earnings-growth ratio of 0.76 and a beta of 1.10.

AdaptHealth (NASDAQ:AHCO) last posted 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 company had revenue of $805.98 million for the quarter, compared to analysts’ expectations of $802.62 million. AdaptHealth had a positive return on equity of 8.47% and a negative net margin of 21.45%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.16 EPS. Sell-side analysts forecast that AdaptHealth Corp. will post 0.82 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Truist Financial reissued a “buy” rating and issued a $13.00 price target on shares of AdaptHealth in a research note on Wednesday, May 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $10.70.

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.