Los Angeles Capital Management LLC Buys New Position in AdaptHealth Corp. (NASDAQ:AHCO)

Los Angeles Capital Management LLC purchased a new position in AdaptHealth Corp. (NASDAQ:AHCO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 15,115 shares of the company’s stock, valued at approximately $151,000.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in AdaptHealth by 8.9% in the first quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock valued at $115,304,000 after buying an additional 818,241 shares during the period. Reinhart Partners LLC. boosted its position in shares of AdaptHealth by 1.4% during the 2nd quarter. Reinhart Partners LLC. now owns 4,269,303 shares of the company’s stock valued at $42,693,000 after purchasing an additional 59,092 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of AdaptHealth by 21.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,040,947 shares of the company’s stock valued at $7,589,000 after purchasing an additional 183,135 shares in the last quarter. Bank of New York Mellon Corp grew its stake in AdaptHealth by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 746,211 shares of the company’s stock worth $7,462,000 after purchasing an additional 20,599 shares during the period. Finally, First Eagle Investment Management LLC increased its holdings in AdaptHealth by 18.2% in the first quarter. First Eagle Investment Management LLC now owns 594,951 shares of the company’s stock worth $6,848,000 after purchasing an additional 91,772 shares in the last quarter. 82.67% of the stock is owned by institutional investors.

AdaptHealth Stock Performance

Shares of AHCO opened at $11.43 on Tuesday. The stock has a 50-day moving average of $10.66 and a 200-day moving average of $10.42. AdaptHealth Corp. has a one year low of $6.37 and a one year high of $11.90. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.15 and a quick ratio of 0.94. The company has a market cap of $1.52 billion, a PE ratio of -2.17, a P/E/G ratio of 1.75 and a beta of 1.10.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). AdaptHealth had a negative net margin of 21.20% and a positive return on equity of 9.58%. The firm had revenue of $805.98 million for the quarter, compared to the consensus estimate of $802.62 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts predict that AdaptHealth Corp. will post 0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director David Solomon Williams III sold 4,000 shares of the business’s 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 completion of the sale, the director now directly owns 36,899 shares of the company’s stock, valued at $415,482.74. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.43% of the company’s stock.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of AdaptHealth in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $10.70.

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.