32,296 Shares in AdaptHealth Corp. $AHCO Purchased by Martingale Asset Management L P

Key Points

• Martingale Asset Management has acquired a new position in AdaptHealth Corp., purchasing 32,296 shares valued at approximately $350,000.
• Institutional investors now own 82.67% of AdaptHealth's stock, with several large firms, including Reinhart Partners LLC, increasing their holdings in the first quarter.
• Equities analysts have mixed views on AdaptHealth, with target prices lowered by Royal Bank of Canada and Truist Financial, while Wall Street Zen upgraded the stock from "hold" to "buy."

Martingale Asset Management L P purchased a new position in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 32,296 shares of the company's stock, valued at approximately $350,000.

A number of other large investors also recently bought and sold shares of AHCO. Reinhart Partners LLC. raised its holdings in AdaptHealth by 15.5% in the 1st quarter. Reinhart Partners LLC. now owns 7,236,262 shares of the company's stock worth $78,441,000 after purchasing an additional 969,408 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of AdaptHealth by 17.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,379,715 shares of the company's stock valued at $32,174,000 after acquiring an additional 505,180 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of AdaptHealth during the first quarter valued at approximately $4,358,000. Nuveen LLC acquired a new position in shares of AdaptHealth during the first quarter valued at approximately $3,427,000. Finally, Palisade Capital Management LP raised its holdings in shares of AdaptHealth by 12.3% during the first quarter. Palisade Capital Management LP now owns 2,711,142 shares of the company's stock valued at $29,389,000 after acquiring an additional 297,268 shares during the last quarter. Institutional investors and hedge funds own 82.67% of the company's stock.

AdaptHealth Price Performance

AHCO stock opened at $9.23 on Tuesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.06 and a quick ratio of 0.82. The business has a 50 day simple moving average of $9.23 and a 200-day simple moving average of $9.24. The firm has a market capitalization of $1.25 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 1.07 and a beta of 1.58. AdaptHealth Corp. has a 1 year low of $7.11 and a 1 year high of $11.70.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Royal Bank Of Canada reduced their target price on AdaptHealth from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Wall Street Zen raised AdaptHealth from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Truist Financial reduced their target price on AdaptHealth from $14.00 to $13.00 and set a "buy" rating for the company in a report on Monday, May 12th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, AdaptHealth presently has an average rating of "Buy" and a consensus price target of $13.40.

Insider Activity

In other news, Director David Solomon Williams III sold 8,200 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $9.73, for a total value of $79,786.00. Following the completion of the sale, the director directly owned 50,045 shares in the company, valued at $486,937.85. This represents a 14.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.55% of the stock is owned by company insiders.

AdaptHealth 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.