AdaptHealth Corp. (NASDAQ:AHCO) Shares Sold by Vestcor Inc

Vestcor Inc lowered its stake in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 86.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,546 shares of the company’s stock after selling 54,272 shares during the period. Vestcor Inc’s holdings in AdaptHealth were worth $96,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Cornercap Investment Counsel Inc. boosted its position in shares of AdaptHealth by 2.8% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 46,706 shares of the company’s stock valued at $467,000 after acquiring an additional 1,254 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of AdaptHealth by 2.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 57,645 shares of the company’s stock worth $576,000 after buying an additional 1,503 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of AdaptHealth by 1.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 171,877 shares of the company’s stock worth $1,719,000 after buying an additional 2,060 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of AdaptHealth by 8.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,440 shares of the company’s stock valued at $394,000 after buying an additional 2,959 shares during the period. Finally, Mutual of America Capital Management LLC increased its stake in AdaptHealth by 23.8% during the third quarter. Mutual of America Capital Management LLC now owns 15,893 shares of the company’s stock worth $178,000 after acquiring an additional 3,052 shares during the last quarter. 82.67% of the stock is currently owned by hedge funds and other institutional investors.

AdaptHealth Price Performance

Shares of NASDAQ AHCO opened at $9.55 on Friday. The stock’s 50-day moving average is $10.14 and its two-hundred day moving average is $10.44. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.00. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -5.79, a price-to-earnings-growth ratio of 1.36 and a beta of 1.10. AdaptHealth Corp. has a 1-year low of $6.43 and a 1-year high of $11.90.

AdaptHealth (NASDAQ:AHCO) last issued 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 6.57% and a positive return on equity of 9.62%. The firm had revenue of $805.90 million during the quarter, compared to analyst estimates of $809.32 million. During the same period last year, the business earned $0.19 EPS. The firm’s revenue was up .2% compared to the same quarter last year. Analysts forecast that AdaptHealth Corp. will post 0.88 EPS for the current fiscal year.

Insider Activity

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 directly owns 212,611 shares of the company’s stock, valued at $2,389,747.64. The trade was a 10.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AHCO. UBS Group reduced their price objective on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Robert W. Baird lowered their price objective on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Royal Bank of Canada dropped their target price on shares of AdaptHealth from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Truist Financial decreased their price target on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Finally, Canaccord Genuity Group dropped their price objective on AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, AdaptHealth currently has an average rating of “Moderate Buy” and an average target price of $11.67.

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.