Louisiana State Employees Retirement System Takes $298,000 Position in AdaptHealth Corp. (NASDAQ:AHCO)

Louisiana State Employees Retirement System bought a new position in shares of AdaptHealth Corp. (NASDAQ:AHCO) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 40,900 shares of the company’s stock, valued at approximately $298,000.

Other hedge funds also recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC purchased a new stake in shares of AdaptHealth during the third quarter worth $100,000. Raymond James & Associates acquired a new position in AdaptHealth during the 3rd quarter worth $101,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in AdaptHealth by 53.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,507 shares of the company’s stock worth $132,000 after purchasing an additional 5,073 shares during the period. Corton Capital Inc. acquired a new stake in AdaptHealth in the 3rd quarter valued at about $147,000. Finally, Mackenzie Financial Corp boosted its stake in shares of AdaptHealth by 26.0% in the 3rd quarter. Mackenzie Financial Corp now owns 21,384 shares of the company’s stock valued at $180,000 after buying an additional 4,406 shares during the period. 82.67% of the stock is currently owned by institutional investors and hedge funds.

AdaptHealth Stock Up 2.1 %

Shares of NASDAQ:AHCO opened at $10.06 on Thursday. The firm has a 50 day simple moving average of $10.21 and a 200-day simple moving average of $8.49. The company has a market capitalization of $1.34 billion, a PE ratio of -1.89, a P/E/G ratio of 0.66 and a beta of 1.02. AdaptHealth Corp. has a twelve month low of $6.37 and a twelve month high of $15.37. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.44.

AdaptHealth (NASDAQ:AHCO) last posted its earnings results on Tuesday, February 27th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.44. The business had revenue of $858.23 million during the quarter, compared to the consensus estimate of $825.94 million. AdaptHealth had a positive return on equity of 8.84% and a negative net margin of 21.21%. On average, equities analysts predict that AdaptHealth Corp. will post 0.88 EPS for the current fiscal year.

Insider Transactions at AdaptHealth

In related news, major shareholder James E. Flynn sold 52,487 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $10.93, for a total value of $573,682.91. Following the completion of the sale, the insider now owns 11,826,376 shares in the company, valued at approximately $129,262,289.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other AdaptHealth news, major shareholder James E. Flynn sold 182,607 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $11.02, for a total transaction of $2,012,329.14. Following the completion of the sale, the insider now directly owns 11,643,769 shares of the company’s stock, valued at approximately $128,314,334.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder James E. Flynn sold 52,487 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $10.93, for a total value of $573,682.91. Following the sale, the insider now directly owns 11,826,376 shares of the company’s stock, valued at $129,262,289.68. The disclosure for this sale can be found here. Insiders own 13.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on AHCO shares. Jefferies Financial Group lowered shares of AdaptHealth from a “buy” rating to a “hold” rating and cut their target price for the stock from $14.50 to $8.00 in a research note on Monday, January 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price target on shares of AdaptHealth in a report on Monday, March 4th. UBS Group raised their price objective on shares of AdaptHealth from $9.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Finally, Truist Financial boosted their target price on shares of AdaptHealth from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, AdaptHealth has an average rating of “Hold” and an average target price of $12.10.

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.