Martingale Asset Management L P Cuts Holdings in AdaptHealth Corp. (NASDAQ:AHCO)

Martingale Asset Management L P lowered its stake in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 8.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in AHCO. Canada Pension Plan Investment Board bought a new position in AdaptHealth in the second quarter valued at $58,000. Blue Trust Inc. purchased a new position in shares of AdaptHealth during the 2nd quarter valued at about $85,000. Innealta Capital LLC bought a new stake in AdaptHealth in the 2nd quarter worth approximately $101,000. Quest Partners LLC lifted its position in AdaptHealth by 11,522.7% in the 2nd 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 last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in AdaptHealth in the second quarter worth approximately $113,000. Hedge funds and other institutional investors own 82.67% of the company’s stock.

Insider Activity

In other AdaptHealth news, COO Shaw Rietkerk sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 212,611 shares in the company, valued at $2,389,747.64. This trade represents a 10.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.43% of the company’s stock.

Wall Street Analyst Weigh In

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

AdaptHealth Stock Down 4.6 %

Shares of NASDAQ:AHCO opened at $9.58 on Wednesday. AdaptHealth Corp. has a 1 year low of $6.43 and a 1 year high of $11.90. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.00. The stock’s 50-day moving average is $10.32 and its 200 day moving average is $10.46. The company has a market cap 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 announced its earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The business had revenue of $805.90 million for the quarter, compared to the consensus estimate 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 was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 EPS. Sell-side analysts anticipate that AdaptHealth Corp. will post 0.88 EPS for the current year.

AdaptHealth 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.