AdaptHealth Corp. (NASDAQ:AHCO) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its stake in shares of AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 30.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 224,177 shares of the company's stock after purchasing an additional 52,300 shares during the period. Public Sector Pension Investment Board owned approximately 0.17% of AdaptHealth worth $2,518,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AHCO. Canada Pension Plan Investment Board purchased a new stake in AdaptHealth during the second quarter worth $58,000. Blue Trust Inc. purchased a new stake in shares of AdaptHealth during the 2nd quarter worth about $85,000. Innealta Capital LLC acquired a new position in AdaptHealth in the 2nd quarter worth about $101,000. Quest Partners LLC boosted its position in AdaptHealth by 11,522.7% during the second quarter. Quest Partners LLC now owns 10,228 shares of the company's stock worth $102,000 after purchasing an additional 10,140 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in AdaptHealth in the third quarter valued at approximately $122,000. Hedge funds and other institutional investors own 82.67% of the company's stock.

Insider Activity

In related 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 transaction, the chief operating officer now directly owns 212,611 shares in the company, valued at approximately $2,389,747.64. This represents a 10.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.43% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. UBS Group reduced their target price on AdaptHealth from $13.00 to $12.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Robert W. Baird decreased their price objective on shares of AdaptHealth from $16.00 to $14.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. Truist Financial cut their target price on shares of AdaptHealth from $13.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, November 15th. Canaccord Genuity Group decreased their price target on shares of AdaptHealth from $14.00 to $13.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada cut their price objective on AdaptHealth from $13.00 to $11.00 and set an "outperform" rating for the company 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $11.67.

AdaptHealth Price Performance

AHCO traded up $0.03 on Thursday, reaching $9.72. 857,111 shares of the company's stock were exchanged, compared to its average volume of 1,055,694. The stock has a market cap of $1.31 billion, a PE ratio of -5.89, a P/E/G ratio of 1.34 and a beta of 1.10. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.00. AdaptHealth Corp. has a twelve month low of $6.43 and a twelve month high of $11.90. The stock's fifty day moving average price is $10.29 and its 200-day moving average price is $10.45.

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

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.