AdaptHealth Corp. (NASDAQ:AHCO) Shares Purchased by Quest Partners LLC

Quest Partners LLC grew its position in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 11,522.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,228 shares of the company’s stock after acquiring an additional 10,140 shares during the quarter. Quest Partners LLC’s holdings in AdaptHealth were worth $102,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AHCO. Los Angeles Capital Management LLC acquired a new stake in AdaptHealth during the 2nd quarter worth approximately $151,000. Foundry Partners LLC acquired a new stake in shares of AdaptHealth in the second quarter worth $4,706,000. Rhumbline Advisers raised its stake in shares of AdaptHealth by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 271,033 shares of the company’s stock valued at $2,710,000 after acquiring an additional 3,498 shares during the period. Innealta Capital LLC acquired a new position in shares of AdaptHealth during the 2nd quarter valued at $101,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in AdaptHealth during the 2nd quarter worth $113,000. 82.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

AdaptHealth Price Performance

Shares of AHCO stock opened at $11.43 on Tuesday. The firm has a fifty day simple moving average of $10.66 and a 200-day simple moving average of $10.42. The company has a market capitalization of $1.52 billion, a PE ratio of -2.17, a price-to-earnings-growth ratio of 1.75 and a beta of 1.10. AdaptHealth Corp. has a twelve month low of $6.37 and a twelve month 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.

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 firm had revenue of $805.98 million during the quarter, compared to analysts’ expectations of $802.62 million. AdaptHealth had a negative net margin of 21.20% and a positive return on equity of 9.58%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.16 earnings per share. Equities research analysts anticipate that AdaptHealth Corp. will post 0.87 earnings per share for the current fiscal year.

Insider Activity at AdaptHealth

In other AdaptHealth news, Director David Solomon Williams III sold 4,000 shares of AdaptHealth stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $11.26, for a total transaction of $45,040.00. Following the sale, the director now directly owns 36,899 shares in the company, valued at approximately $415,482.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.43% of the stock is currently owned by company insiders.

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.