Harbor Capital Advisors Inc. Sells 435,043 Shares of AdaptHealth Corp. $AHCO

Harbor Capital Advisors Inc. lowered its stake in AdaptHealth Corp. (NASDAQ:AHCO) by 72.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,117 shares of the company’s stock after selling 435,043 shares during the quarter. Harbor Capital Advisors Inc. owned 0.12% of AdaptHealth worth $1,451,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AHCO. American Century Companies Inc. increased its stake in AdaptHealth by 13.7% in the first quarter. American Century Companies Inc. now owns 239,143 shares of the company’s stock valued at $2,592,000 after purchasing an additional 28,784 shares in the last quarter. Trexquant Investment LP bought a new stake in AdaptHealth in the 1st quarter valued at about $228,000. State of Wyoming raised its stake in AdaptHealth by 43.5% during the 1st quarter. State of Wyoming now owns 43,966 shares of the company’s stock worth $477,000 after buying an additional 13,325 shares during the period. Iron Triangle Partners LP bought a new position in AdaptHealth in the first quarter worth approximately $17,496,000. Finally, Vident Advisory LLC acquired a new stake in AdaptHealth in the first quarter valued at approximately $163,000. 82.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AHCO shares. Wall Street Zen lowered AdaptHealth from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Zacks Research downgraded shares of AdaptHealth from a “hold” rating to a “strong sell” rating in a report on Friday, September 19th. Canaccord Genuity Group lifted their price objective on shares of AdaptHealth from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of AdaptHealth in a report on Monday. Five investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, AdaptHealth has a consensus rating of “Hold” and an average target price of $13.60.

Insider Activity

In related news, Director David Solomon Williams III sold 5,000 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $9.43, for a total transaction of $47,150.00. Following the completion of the sale, the director directly owned 45,045 shares of the company’s stock, valued at approximately $424,774.35. This trade represents a 9.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.55% of the stock is currently owned by corporate insiders.

AdaptHealth Price Performance

AHCO opened at $10.25 on Friday. AdaptHealth Corp. has a 1 year low of $7.11 and a 1 year high of $11.63. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.08 and a quick ratio of 0.86. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 18.64, a P/E/G ratio of 1.50 and a beta of 1.77. The firm’s fifty day moving average price is $9.67 and its two-hundred day moving average price is $9.33.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.05). AdaptHealth had a net margin of 2.53% and a return on equity of 4.85%. The firm had revenue of $820.31 million for the quarter, compared to the consensus estimate of $799.62 million. During the same period in the previous year, the business earned $0.15 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, analysts anticipate that AdaptHealth Corp. will post 0.88 earnings per share for the current fiscal year.

About AdaptHealth

AdaptHealth, Inc operates as a leading provider of home medical equipment (HME) and related services in the United States. The company focuses on delivering respiratory care, mobility solutions and bathroom safety products to patients with chronic and acute medical needs. Through its comprehensive service offerings, AdaptHealth aims to enhance quality of life and clinical outcomes for patients who require long-term support outside of a hospital setting.

The company’s respiratory portfolio includes products such as continuous positive airway pressure (CPAP) devices, oxygen concentrators, ventilators, and associated supplies for patients with sleep apnea, COPD and other pulmonary conditions.