AdaptHealth Corp. $AHCO Shares Acquired by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its stake in AdaptHealth Corp. by 88.8% during the first quarter, now owning approximately 0.17% of the company worth $2.44 million.
• Director David Solomon Williams III sold 8,200 shares on August 22nd, reducing his position by 14.08% to 50,045 shares valued at around $486,938.
• Wall Street Zen upgraded AdaptHealth's rating from "hold" to "buy", with a consensus price target of $13.40 following a positive outlook from five research analysts.

Intech Investment Management LLC increased its stake in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 88.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 225,452 shares of the company's stock after buying an additional 106,035 shares during the quarter. Intech Investment Management LLC owned about 0.17% of AdaptHealth worth $2,444,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. SummerHaven Investment Management LLC raised its stake in shares of AdaptHealth by 1.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 79,883 shares of the company's stock worth $866,000 after buying an additional 1,329 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in AdaptHealth by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,931 shares of the company's stock valued at $552,000 after purchasing an additional 1,999 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in AdaptHealth by 6.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 32,797 shares of the company's stock valued at $356,000 after purchasing an additional 2,081 shares in the last quarter. New York State Teachers Retirement System increased its holdings in shares of AdaptHealth by 3.3% in the 1st quarter. New York State Teachers Retirement System now owns 80,455 shares of the company's stock valued at $872,000 after acquiring an additional 2,600 shares during the last quarter. Finally, Humankind Investments LLC grew its stake in AdaptHealth by 15.5% during the 1st quarter. Humankind Investments LLC now owns 20,770 shares of the company's stock worth $225,000 after buying an additional 2,791 shares during the last quarter. Institutional investors and hedge funds own 82.67% of the company's stock.

AdaptHealth Stock Performance

Shares of AHCO stock traded down $0.33 on Friday, reaching $8.89. The stock had a trading volume of 2,662,961 shares, compared to its average volume of 942,697. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 16.46, a P/E/G ratio of 1.03 and a beta of 1.59. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.14. AdaptHealth Corp. has a 12 month low of $7.11 and a 12 month high of $11.63. The firm's 50-day moving average is $9.31 and its two-hundred day moving average is $9.20.

Analysts Set New Price Targets

Separately, Wall Street Zen raised AdaptHealth from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $13.40.

Insiders Place Their Bets

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

AdaptHealth Company 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.