Texas Permanent School Fund Corp Boosts Position in AdaptHealth Corp. (NASDAQ:AHCO)

Texas Permanent School Fund Corp increased its holdings in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 11.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,704 shares of the company’s stock after purchasing an additional 8,503 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.06% of AdaptHealth worth $797,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in AdaptHealth by 197.1% during the first quarter. GAMMA Investing LLC now owns 2,537 shares of the company’s stock worth $29,000 after buying an additional 1,683 shares during the period. Covestor Ltd increased its position in AdaptHealth by 279.6% during the first quarter. Covestor Ltd now owns 3,109 shares of the company’s stock worth $36,000 after buying an additional 2,290 shares during the period. Blue Trust Inc. acquired a new position in AdaptHealth during the second quarter worth approximately $85,000. Innealta Capital LLC acquired a new position in AdaptHealth during the second quarter worth approximately $101,000. Finally, Quest Partners LLC increased 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 buying an additional 10,140 shares during the period. Hedge funds and other institutional investors own 82.67% of the company’s stock.

Insider Activity

In other news, Director David Solomon Williams III sold 4,000 shares of the business’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 transaction, the director now owns 36,899 shares of the company’s stock, valued at $415,482.74. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 4.43% of the company’s stock.

Analyst Ratings Changes

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price target on shares of AdaptHealth in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, AdaptHealth has a consensus rating of “Hold” and a consensus price target of $10.70.

AdaptHealth Trading Down 0.4 %

NASDAQ:AHCO opened at $11.25 on Friday. The firm has a market cap of $1.50 billion, a P/E ratio of -2.13, a PEG ratio of 1.75 and a beta of 1.10. The company has a current ratio of 1.15, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38. The stock’s 50 day simple moving average is $10.76 and its 200-day simple moving average is $10.44. AdaptHealth Corp. has a 12-month low of $6.37 and a 12-month high of $11.90.

AdaptHealth (NASDAQ:AHCO) last released 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). The company had revenue of $805.98 million during the quarter, compared to analyst estimates of $802.62 million. AdaptHealth had a negative net margin of 21.20% and a positive return on equity of 9.58%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 EPS. Equities analysts anticipate that AdaptHealth Corp. will post 0.87 EPS for the current year.

AdaptHealth Company 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.