Louisiana State Employees Retirement System Boosts Stock Position in AdaptHealth Corp. (NASDAQ:AHCO)

Louisiana State Employees Retirement System grew its stake in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 30.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,100 shares of the company’s stock after acquiring an additional 11,800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in AdaptHealth were worth $574,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AHCO. Reinhart Partners LLC. increased its stake in shares of AdaptHealth by 45.2% during the 3rd quarter. Reinhart Partners LLC. now owns 6,198,642 shares of the company’s stock valued at $69,611,000 after acquiring an additional 1,929,339 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of AdaptHealth by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock valued at $115,304,000 after acquiring an additional 818,241 shares during the last quarter. Divisadero Street Capital Management LP increased its stake in shares of AdaptHealth by 179.7% during the 2nd quarter. Divisadero Street Capital Management LP now owns 1,161,592 shares of the company’s stock valued at $11,616,000 after acquiring an additional 746,340 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of AdaptHealth by 43.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,327,738 shares of the company’s stock valued at $23,277,000 after acquiring an additional 710,131 shares during the last quarter. Finally, Foundry Partners LLC acquired a new position in shares of AdaptHealth during the 2nd quarter valued at about $4,706,000. Institutional investors and hedge funds own 82.67% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of AdaptHealth in a research note on Monday, August 12th. One research 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 MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.70.

AdaptHealth Stock Down 9.6 %

Shares of NASDAQ:AHCO opened at $9.18 on Wednesday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.15. AdaptHealth Corp. has a 1 year low of $6.37 and a 1 year high of $11.90. The stock has a market capitalization of $1.23 billion, a P/E ratio of -1.76, a PEG ratio of 1.63 and a beta of 1.11. The stock has a 50-day simple moving average of $10.76 and a 200-day simple moving average of $10.44.

AdaptHealth (NASDAQ:AHCO) last issued its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) 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 firm had revenue of $805.98 million for the quarter, compared to analysts’ expectations of $802.62 million. During the same quarter in the previous year, the firm posted $0.16 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities analysts forecast that AdaptHealth Corp. will post 0.87 earnings per share for the current year.

Insider Transactions at AdaptHealth

In other AdaptHealth news, Director David Solomon Williams III sold 4,000 shares of the company’s stock in a transaction that occurred 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 $415,482.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other AdaptHealth news, COO Shaw Rietkerk sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $11.24, for a total value of $281,000.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through the SEC website. Also, Director David Solomon Williams III sold 4,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $415,482.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.43% of the company’s stock.

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.