Innealta Capital LLC Takes $101,000 Position in AdaptHealth Corp. (NASDAQ:AHCO)

Innealta Capital LLC purchased a new stake in shares of AdaptHealth Corp. (NASDAQ:AHCO) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,076 shares of the company’s stock, valued at approximately $101,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its stake in AdaptHealth by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock valued at $115,304,000 after acquiring an additional 818,241 shares in the last quarter. Peregrine Capital Management LLC purchased a new position in AdaptHealth during the first quarter valued at approximately $6,253,000. Hillsdale Investment Management Inc. purchased a new position in AdaptHealth during the first quarter valued at approximately $4,240,000. Tocqueville Asset Management L.P. lifted its position in AdaptHealth by 278.0% in the 1st quarter. Tocqueville Asset Management L.P. now owns 378,000 shares of the company’s stock worth $4,351,000 after buying an additional 278,000 shares in the last quarter. Finally, Sei Investments Co. purchased a new stake in AdaptHealth in the 1st quarter worth approximately $2,365,000. Hedge funds and other institutional investors own 82.67% of the company’s stock.

Wall Street Analyst Weigh In

AHCO has been the subject of several research reports. Truist Financial reiterated a “buy” rating and set a $13.00 price target on shares of AdaptHealth in a report on Wednesday, May 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 target price on shares of AdaptHealth in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.70.

AdaptHealth Stock Performance

Shares of AHCO stock traded down $0.08 during trading on Friday, reaching $10.99. The company had a trading volume of 930,393 shares, compared to its average volume of 1,079,438. The firm’s 50 day simple moving average is $10.37 and its two-hundred day simple moving average is $10.13. AdaptHealth Corp. has a one year low of $6.37 and a one year high of $12.44. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.33 and a quick ratio of 1.11. The company has a market capitalization of $1.46 billion, a PE ratio of -2.09, a PEG ratio of 0.76 and a beta of 1.10.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). AdaptHealth had a negative net margin of 21.45% and a positive return on equity of 8.47%. The firm had revenue of $805.98 million during the quarter, compared to the consensus estimate of $802.62 million. During the same period in the prior year, the business earned $0.16 EPS. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. Sell-side analysts forecast that AdaptHealth Corp. will post 0.82 earnings per share 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.