Harbor Capital Advisors Inc., an institutional investor, recently acquired a new stake in AdaptHealth Corp. (NASDAQ:AHCO) during the second quarter of this year. The acquisition consisted of 58,290 shares of AdaptHealth’s stock, valued at approximately $709,000. This information was disclosed in Harbor Capital Advisors’ most recent Form 13F filing with the Securities and Exchange Commission (SEC).
AdaptHealth is a company listed on the NASDAQ stock exchange under the ticker symbol AHCO. It specializes in providing healthcare services and products that enhance patient comfort and well-being. Some of its offerings include home medical equipment, respiratory therapy products, and mobility solutions.
On August 8th of this year, AdaptHealth released its earnings results for the quarter. The company reported earnings per share (EPS) of $0.16, surpassing the market consensus estimate of $0.11 by $0.05. Additionally, AdaptHealth achieved a net margin of 1.41% and a return on equity (ROE) of 3.03%. Its quarterly revenue stood at $793.29 million, exceeding the consensus estimate of $765.69 million.
Equities research analysts studying AdaptHealth anticipate that the company will post an EPS of 0.63 for the current fiscal year based on their latest research report on AHCO.
These developments highlight Harbor Capital Advisors’ confidence in AdaptHealth’s prospects as an investment opportunity within the healthcare sector. As an institutional investor, Harbor Capital Advisors engages in extensive analysis and due diligence before making such acquisitions.
Investors monitoring the healthcare industry may find these events noteworthy as they provide insights into AdaptHealth’s financial performance and market standing.
Please note that this article references data up until September 19th, 2023 and provides an overview of recent events regarding Harbor Capital Advisors’ acquisition of shares in AdaptHealth Corp., as well as AdaptHealth’s recent earnings results. It is important to seek updated information before making any investment decisions.
Updated on: 19/09/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
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Notable Investors Make Significant Changes to Holdings of AdaptHealth Corp: Impact on Ownership Structure and Market Performance
As of September 19, 2023, several notable investors have made significant changes to their holdings of AdaptHealth Corp. (NASDAQ: AHCO), a leading healthcare company specializing in providing home medical equipment and related services. These modifications have caught the attention of market analysts and onlookers alike due to their noteworthy impact on the overall ownership structure of the company.
One major investor, Raymond James & Associates, saw a staggering increase in its position in AdaptHealth by 187.9% during the first quarter. The firm now owns 57,110 shares of AdaptHealth’s stock, which are valued at approximately $915,000. This increase was achieved through the acquisition of an additional 37,271 shares over the last quarter.
Another prominent investor, Group One Trading L.P., also witnessed growth in its holdings of AdaptHealth during the first quarter. Its position in the company grew by 134.3%, bringing its total ownership to 3,720 shares worth approximately $60,000.
AlphaCrest Capital Management LLC demonstrated confidence in AdaptHealth’s long-term potential by increasing its position by 29.2% during the same period. The firm now holds 21,656 shares valued at around $347,000.
MetLife Investment Management LLC joined these investors by acquiring an additional 14,335 shares during the first quarter, marking a growth rate of 50.6%. As a result, MetLife now owns a total of 42,646 shares valued at $684,000.
Sei Investments Co., another notable name on the list of investors modifying their holdings in AdaptHealth recently, acquired an additional 5,810 shares during the first quarter. This represents a modest increase of 2.6%, bringing Sei Investments Co.’s total ownership to approximately 227,049 shares valued at $3,640,000.
It is noteworthy that hedge funds and other institutional investors currently own a significant portion, about 82.67%, of AdaptHealth’s stock.
On the market front, shares of AdaptHealth (NASDAQ: AHCO) opened at $9.54 on Tuesday, September 19, 2023. The company boasts a quick ratio of 0.99 and a current ratio of 1.24, indicating its ability to meet short-term financial obligations. Additionally, AdaptHealth has a debt-to-equity ratio of 0.98. This financial position suggests that the company has effectively managed its debt while maintaining a healthy balance between its borrowed capital and shareholders’ equity.
The stock’s price fluctuation within the past year presents an interesting observation for investors. AdaptHealth’s shares hit a low of $9.32 and a high of $23.30 in the past 52 weeks, highlighting significant volatility in its market performance.
Technical indicators reflect this volatility as well. The stock’s 50-day moving average price stands at $12.58, whereas the 200-day moving average price is slightly lower at $12.12.
Analyzing AdaptHealth’s market capitalization reveals that it currently stands at approximately $1.30 billion, providing investors with insights into the overall value assigned to the company by the market.
In recent news related to insider trading activities, CTO Albert A. Prast sold off 200,000 shares of AdaptHealth stock on Thursday, August 10th for an average price of $14.18 per share, resulting in a total transaction value of $2,836,000.
The sale was listed in official filings with the SEC and disclosed publicly through various channels provided by these regulatory bodies to maintain transparency and proper disclosure practices.
Another noteworthy selling activity involved Director Skyknight Aero Holdings LLC, who sold off 90,152 shares on August 10th for an average price of $14.05 per share. This transaction resulted in a total value of $1,266,635.60.
Insiders now hold approximately 13.60% ownership in the company.
On the recommendation front, Robert W. Baird has raised its target price for AdaptHealth from $20.00 to $21.00 in a research note released on Thursday, July 13th.
In summary, AdaptHealth Corp.’s recent developments, particularly regarding changes in major investors’ holdings and movements within its leadership team, have drawn significant attention from market participants. These events are indicative of the dynamic nature of the healthcare industry and can provide valuable insights to investors seeking to evaluate their investment strategies accordingly.