AdaptHealth Corp. (NASDAQ:AHCO) Shares Sold by Vestcor Inc

Vestcor Inc reduced its stake in shares of AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 86.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,546 shares of the company's stock after selling 54,272 shares during the quarter. Vestcor Inc's holdings in AdaptHealth were worth $96,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Reinhart Partners LLC. grew its holdings in shares of AdaptHealth by 45.2% in the 3rd quarter. Reinhart Partners LLC. now owns 6,198,642 shares of the company's stock worth $69,611,000 after acquiring an additional 1,929,339 shares during the period. Divisadero Street Capital Management LP boosted its position in AdaptHealth by 179.7% during the second quarter. Divisadero Street Capital Management LP now owns 1,161,592 shares of the company's stock worth $11,616,000 after purchasing an additional 746,340 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in AdaptHealth by 43.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,327,738 shares of the company's stock valued at $23,277,000 after purchasing an additional 710,131 shares during the last quarter. State Street Corp increased its position in shares of AdaptHealth by 19.8% in the third quarter. State Street Corp now owns 4,124,284 shares of the company's stock valued at $46,316,000 after buying an additional 681,816 shares in the last quarter. Finally, FMR LLC raised its stake in shares of AdaptHealth by 9.3% during the 3rd quarter. FMR LLC now owns 7,350,549 shares of the company's stock worth $82,547,000 after buying an additional 624,645 shares during the last quarter. 82.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Truist Financial dropped their target price on shares of AdaptHealth from $13.00 to $12.00 and set a "buy" rating for the company in a report on Friday, November 15th. Robert W. Baird cut their price objective on AdaptHealth from $16.00 to $14.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. UBS Group lowered their target price on AdaptHealth from $13.00 to $12.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. Canaccord Genuity Group cut their price target on AdaptHealth from $14.00 to $13.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Finally, Royal Bank of Canada decreased their price objective on AdaptHealth from $13.00 to $11.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.67.

AdaptHealth Trading Up 2.8 %

Shares of AHCO stock traded up $0.26 during mid-day trading on Friday, hitting $9.55. 1,314,357 shares of the company's stock were exchanged, compared to its average volume of 1,054,037. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -5.79, a PEG ratio of 1.36 and a beta of 1.10. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. AdaptHealth Corp. has a fifty-two week low of $6.43 and a fifty-two week high of $11.90. The stock has a 50-day simple moving average of $10.14 and a two-hundred day simple moving average of $10.44.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.02). The business had revenue of $805.90 million during the quarter, compared to analyst estimates of $809.32 million. AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The firm's quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 earnings per share. Equities analysts expect that AdaptHealth Corp. will post 0.88 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Shaw Rietkerk sold 25,000 shares of the business's stock in a transaction dated Friday, September 20th. The stock was 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 in the company, valued at approximately $2,389,747.64. The trade was a 10.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.43% of the stock is currently owned by company insiders.

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.