The Manufacturers Life Insurance Company Purchases 2,959 Shares of AdaptHealth Corp. (NASDAQ:AHCO)

The Manufacturers Life Insurance Company raised its position in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 8.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,440 shares of the company’s stock after acquiring an additional 2,959 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in AdaptHealth were worth $394,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. MBB Public Markets I LLC bought a new stake in AdaptHealth during the second quarter valued at $142,000. Dark Forest Capital Management LP bought a new stake in AdaptHealth during the second quarter valued at $384,000. Caxton Associates LP bought a new stake in AdaptHealth during the second quarter valued at $383,000. Bank of Montreal Can boosted its position in AdaptHealth by 255.9% during the second quarter. Bank of Montreal Can now owns 77,119 shares of the company’s stock valued at $773,000 after acquiring an additional 55,448 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in AdaptHealth by 1.2% during the second quarter. Public Sector Pension Investment Board now owns 171,877 shares of the company’s stock valued at $1,719,000 after acquiring an additional 2,060 shares during the last quarter. Institutional investors own 82.67% of the company’s stock.

AdaptHealth Price Performance

AHCO stock opened at $10.86 on Thursday. The stock has a market capitalization of $1.45 billion, a PE ratio of -2.06, a price-to-earnings-growth ratio of 1.60 and a beta of 1.10. The company’s 50-day moving average is $10.62 and its 200-day moving average is $10.40. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.15 and a quick ratio of 0.94. AdaptHealth Corp. has a 1 year low of $6.37 and a 1 year high of $11.90.

AdaptHealth (NASDAQ:AHCO) last posted its earnings results 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). AdaptHealth had a positive return on equity of 9.58% and a negative net margin of 21.20%. The business had revenue of $805.98 million during the quarter, compared to analyst estimates of $802.62 million. During the same quarter in the prior year, the company earned $0.16 EPS. The company’s revenue was up 1.6% on a year-over-year basis. Equities research analysts expect that AdaptHealth Corp. will post 0.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, COO Shaw Rietkerk sold 25,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $11.24, for a total value of $281,000.00. Following the sale, the chief operating officer now owns 212,611 shares in the company, valued at $2,389,747.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other AdaptHealth news, Director David Solomon Williams III sold 4,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $11.26, for a total value of $45,040.00. Following the completion of the sale, the director now owns 36,899 shares in the company, valued at approximately $415,482.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Shaw Rietkerk sold 25,000 shares of the stock in a transaction dated Friday, September 20th. The shares were 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 owns 212,611 shares of the company’s stock, valued at approximately $2,389,747.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.