AdaptHealth Corp. (NASDAQ:AHCO) Shares Purchased by Divisadero Street Capital Management LP

Divisadero Street Capital Management LP raised its holdings in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 179.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,161,592 shares of the company’s stock after acquiring an additional 746,340 shares during the period. AdaptHealth makes up 1.8% of Divisadero Street Capital Management LP’s holdings, making the stock its 14th largest position. Divisadero Street Capital Management LP owned approximately 0.87% of AdaptHealth worth $11,616,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AHCO. GAMMA Investing LLC raised its stake in shares of AdaptHealth by 197.1% during the first quarter. GAMMA Investing LLC now owns 2,537 shares of the company’s stock valued at $29,000 after purchasing an additional 1,683 shares in the last quarter. Covestor Ltd raised its position in shares of AdaptHealth by 279.6% during the 1st quarter. Covestor Ltd now owns 3,109 shares of the company’s stock worth $36,000 after buying an additional 2,290 shares in the last quarter. Blue Trust Inc. acquired a new stake in shares of AdaptHealth in the 2nd quarter worth approximately $85,000. Innealta Capital LLC bought a new position in shares of AdaptHealth in the second quarter valued at approximately $101,000. Finally, Quest Partners LLC increased its stake in shares of AdaptHealth by 11,522.7% during the second quarter. Quest Partners LLC now owns 10,228 shares of the company’s stock valued at $102,000 after acquiring an additional 10,140 shares during the period. Institutional investors and hedge funds own 82.67% of the company’s stock.

Insider Buying and Selling

In related news, Director David Solomon Williams III sold 4,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $11.26, for a total value of $45,040.00. Following the completion of the transaction, the director now owns 36,899 shares in the company, valued at approximately $415,482.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.43% of the company’s stock.

AdaptHealth Stock Performance

NASDAQ:AHCO opened at $11.30 on Friday. 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 company has a 50-day moving average of $10.74 and a 200-day moving average of $10.43. AdaptHealth Corp. has a twelve month low of $6.37 and a twelve month high of $11.90. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -2.14, a price-to-earnings-growth ratio of 1.75 and a beta of 1.10.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). The business had revenue of $805.98 million during the quarter, compared to analyst estimates of $802.62 million. AdaptHealth had a positive return on equity of 9.58% and a negative net margin of 21.20%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.16 EPS. Analysts forecast that AdaptHealth Corp. will post 0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

About AdaptHealth

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.