Texas Permanent School Fund Corp Cuts Stock Holdings in AdaptHealth Corp. (NASDAQ:AHCO)

Texas Permanent School Fund Corp decreased its stake in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,309 shares of the company’s stock after selling 1,563 shares during the period. Texas Permanent School Fund Corp owned about 0.05% of AdaptHealth worth $819,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AHCO. Reinhart Partners LLC. lifted its position in AdaptHealth by 233.2% during the second quarter. Reinhart Partners LLC. now owns 3,051,680 shares of the company’s stock valued at $37,139,000 after purchasing an additional 2,135,721 shares during the period. State Street Corp lifted its position in AdaptHealth by 70.2% during the third quarter. State Street Corp now owns 2,738,342 shares of the company’s stock valued at $51,426,000 after purchasing an additional 1,129,895 shares during the period. Vanguard Group Inc. lifted its position in AdaptHealth by 15.6% during the third quarter. Vanguard Group Inc. now owns 7,795,250 shares of the company’s stock valued at $146,396,000 after purchasing an additional 1,053,942 shares during the period. Bank of America Corp DE lifted its position in AdaptHealth by 208.0% during the fourth quarter. Bank of America Corp DE now owns 1,316,346 shares of the company’s stock valued at $25,300,000 after purchasing an additional 888,995 shares during the period. Finally, Wellington Management Group LLP lifted its position in AdaptHealth by 32.9% during the first quarter. Wellington Management Group LLP now owns 2,549,978 shares of the company’s stock valued at $31,696,000 after purchasing an additional 631,089 shares during the period. Institutional investors own 82.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of AdaptHealth from $18.00 to $13.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 8th. Bank of America downgraded shares of AdaptHealth from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $9.50 to $6.50 in a research report on Wednesday, November 8th. Finally, Truist Financial decreased their price target on shares of AdaptHealth from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $13.83.

AdaptHealth Stock Down 0.1 %

Shares of AHCO stock opened at $8.52 on Tuesday. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -2.49 and a beta of 0.84. AdaptHealth Corp. has a one year low of $6.37 and a one year high of $23.00. The company’s fifty day moving average price is $8.17 and its 200-day moving average price is $10.54. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.31 and a quick ratio of 1.05.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $804.03 million for the quarter, compared to the consensus estimate of $796.60 million. AdaptHealth had a negative net margin of 13.68% and a positive return on equity of 4.09%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the firm earned $0.11 EPS. Sell-side analysts expect that AdaptHealth Corp. will post -1.27 EPS for the current fiscal year.

AdaptHealth Company Profile

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.