Martingale Asset Management L P Sells 4,298 Shares of AdaptHealth Corp. (NASDAQ:AHCO)

Martingale Asset Management L P lowered its stake in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 8.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 49,042 shares of the company’s stock after selling 4,298 shares during the period. Martingale Asset Management L P’s holdings in AdaptHealth were worth $551,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of AdaptHealth by 7.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 162,470 shares of the company’s stock worth $1,825,000 after acquiring an additional 11,757 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in AdaptHealth by 30.4% during the third quarter. Public Sector Pension Investment Board now owns 224,177 shares of the company’s stock worth $2,518,000 after purchasing an additional 52,300 shares during the last quarter. Glenmede Trust Co. NA increased its stake in AdaptHealth by 38.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 16,453 shares of the company’s stock valued at $185,000 after buying an additional 4,556 shares during the last quarter. FMR LLC lifted its position 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 in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of AdaptHealth by 33.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 52,735 shares of the company’s stock worth $592,000 after buying an additional 13,295 shares during the last quarter. 82.67% of the stock is owned by institutional investors.

AdaptHealth Price Performance

Shares of NASDAQ:AHCO opened at $9.58 on Wednesday. The company has a 50-day moving average price of $10.32 and a two-hundred day moving average price of $10.46. AdaptHealth Corp. has a twelve month low of $6.43 and a twelve month high of $11.90. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $1.29 billion, a PE ratio of -5.81, a P/E/G ratio of 1.41 and a beta of 1.10.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 earnings per share 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 analysts’ expectations of $809.32 million. AdaptHealth had a negative net margin of 6.57% and a positive return on equity of 9.62%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 earnings per share. Equities analysts forecast that AdaptHealth Corp. will post 0.88 EPS for the current year.

Insider Activity at AdaptHealth

In other news, COO Shaw Rietkerk sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were 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 directly owns 212,611 shares in the company, valued at approximately $2,389,747.64. This trade represents a 10.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.43% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AHCO. UBS Group dropped their price target on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Truist Financial lowered their target price on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Royal Bank of Canada reduced their price target on shares of AdaptHealth from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Robert W. Baird lowered their price objective on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, Canaccord Genuity Group dropped their target price 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. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AdaptHealth presently has an average rating of “Moderate Buy” and a consensus price target of $11.67.

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.