Harbor Capital Advisors Inc. Acquires Shares of 58,290 AdaptHealth Corp. (NASDAQ:AHCO)

Harbor Capital Advisors Inc. acquired a new stake in AdaptHealth Corp. (NASDAQ:AHCO) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 58,290 shares of the company’s stock, valued at approximately $709,000.

A number of other large investors also recently modified their holdings of AHCO. Raymond James & Associates increased its position in shares of AdaptHealth by 187.9% in the 1st quarter. Raymond James & Associates now owns 57,110 shares of the company’s stock valued at $915,000 after purchasing an additional 37,271 shares during the last quarter. Group One Trading L.P. grew its position in shares of AdaptHealth by 134.3% in the 1st quarter. Group One Trading L.P. now owns 3,720 shares of the company’s stock valued at $60,000 after buying an additional 2,132 shares during the last quarter. AlphaCrest Capital Management LLC grew its position in shares of AdaptHealth by 29.2% in the 1st quarter. AlphaCrest Capital Management LLC now owns 21,656 shares of the company’s stock valued at $347,000 after buying an additional 4,892 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of AdaptHealth by 50.6% in the 1st quarter. MetLife Investment Management LLC now owns 42,646 shares of the company’s stock valued at $684,000 after buying an additional 14,335 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of AdaptHealth by 2.6% in the 1st quarter. Sei Investments Co. now owns 227,049 shares of the company’s stock valued at $3,640,000 after buying an additional 5,810 shares during the last quarter. 82.67% of the stock is owned by hedge funds and other institutional investors.

AdaptHealth Stock Down 2.1 %

Shares of NASDAQ AHCO opened at $9.54 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.24 and a debt-to-equity ratio of 0.98. AdaptHealth Corp. has a 52 week low of $9.32 and a 52 week high of $23.30. The firm has a 50-day moving average price of $12.58 and a 200 day moving average price of $12.12. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 79.50, a price-to-earnings-growth ratio of 0.85 and a beta of 0.71.

AdaptHealth (NASDAQ:AHCO) last posted its earnings results on Tuesday, August 8th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.05. AdaptHealth had a net margin of 1.41% and a return on equity of 3.03%. The firm had revenue of $793.29 million during the quarter, compared to the consensus estimate of $765.69 million. Equities research analysts anticipate that AdaptHealth Corp. will post 0.63 EPS for the current fiscal year.

Insider Transactions at AdaptHealth

In other news, CTO Albert A. Prast sold 200,000 shares of AdaptHealth stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $14.18, for a total transaction of $2,836,000.00. Following the completion of the sale, the chief technology officer now directly owns 110,578 shares in the company, valued at $1,567,996.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CTO Albert A. Prast sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $14.18, for a total value of $2,836,000.00. Following the sale, the chief technology officer now directly owns 110,578 shares of the company’s stock, valued at $1,567,996.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Skyknight Aero Holdings, Llc sold 90,152 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $14.05, for a total transaction of $1,266,635.60. Following the completion of the sale, the director now directly owns 2,952,904 shares in the company, valued at $41,488,301.20. The disclosure for this sale can be found here. Insiders own 13.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird raised their target price on shares of AdaptHealth from $20.00 to $21.00 in a research note on Thursday, July 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, AdaptHealth presently has a consensus rating of “Moderate Buy” and an average target price of $19.03.

About AdaptHealth

AdaptHealth Corp., together with its subsidiaries, provides 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, including CPAP and bi-PAP services to individuals suffering from obstructive sleep apnea; medical devices and supplies, including continuous glucose monitors and insulin pumps to patients 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.