AdaptHealth Corp. $AHCO Shares Sold by Segall Bryant & Hamill LLC

Key Points

• Segall Bryant & Hamill LLC cut its AdaptHealth stake by 11.4% in the first quarter, selling 445,927 shares and retaining 3.48 million shares valued at about $41.4 million. Institutional investors collectively own 82.67% of the company.
• AdaptHealth shares opened at $10.80, with a market capitalization of approximately $1.47 billion and a 52-week trading range of $8.51 to $13.43. An insider also sold 11,275 shares under a pre-arranged Rule 10b5-1 plan.
• Analyst sentiment remains positive, with seven Buy ratings, one Hold and one Sell; the stock carries a “Moderate Buy” consensus and an average price target of $14.14.

Segall Bryant & Hamill LLC lowered its stake in shares of AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 11.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,478,592 shares of the company's stock after selling 445,927 shares during the period. Segall Bryant & Hamill LLC owned about 2.56% of AdaptHealth worth $41,395,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Rockefeller Capital Management L.P. boosted its holdings in AdaptHealth by 433.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company's stock worth $26,000 after buying an additional 2,100 shares during the last quarter. Assetmark Inc. raised its holdings in shares of AdaptHealth by 54.8% during the first quarter. Assetmark Inc. now owns 6,952 shares of the company's stock valued at $83,000 after acquiring an additional 2,460 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of AdaptHealth by 22.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company's stock valued at $70,000 after acquiring an additional 1,279 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of AdaptHealth by 318.0% during the second quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company's stock valued at $90,000 after acquiring an additional 7,297 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of AdaptHealth in the first quarter valued at approximately $120,000. Institutional investors and hedge funds own 82.67% of the company's stock.

AdaptHealth Trading Up 1.1%

AHCO opened at $10.80 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.92 and a quick ratio of 0.71. The company's 50 day simple moving average is $10.28 and its two-hundred day simple moving average is $10.68. AdaptHealth Corp. has a 1-year low of $8.51 and a 1-year high of $13.43. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -17.42, a price-to-earnings-growth ratio of 0.54 and a beta of 1.45.

Insider Activity

In related news, insider Russell E. Schuster III sold 11,275 shares of AdaptHealth stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $10.06, for a total transaction of $113,426.50. Following the transaction, the insider owned 136,538 shares in the company, valued at approximately $1,373,572.28. This trade represents a 7.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.95% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Truist Financial lifted their price target on AdaptHealth from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Monday, April 13th. Canaccord Genuity Group increased their price objective on AdaptHealth from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Royal Bank Of Canada raised their price objective on AdaptHealth from $13.00 to $15.00 and gave the company an "outperform" rating in a report on Monday, May 11th. Robert W. Baird lowered their target price on shares of AdaptHealth from $18.00 to $15.00 and set an "outperform" rating on the stock in a research note on Monday, July 6th. Finally, Jefferies Financial Group raised shares of AdaptHealth from a "hold" rating to a "buy" rating and upped their target price for the stock from $11.00 to $13.00 in a report on Tuesday, July 21st. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, AdaptHealth has an average rating of "Moderate Buy" and an average target price of $14.14.

AdaptHealth Company Profile

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.

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