Ameriprise Financial Inc. Raises Stake in AdaptHealth Corp. (NASDAQ:AHCO)

Ameriprise Financial Inc. increased its holdings in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 11.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 627,998 shares of the company's stock after acquiring an additional 65,606 shares during the quarter. Ameriprise Financial Inc. owned about 0.47% of AdaptHealth worth $5,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Assetmark Inc. purchased a new stake in shares of AdaptHealth during the 4th quarter valued at about $28,000. Blue Trust Inc. boosted its holdings in shares of AdaptHealth by 24.1% in the fourth quarter. Blue Trust Inc. now owns 5,746 shares of the company's stock worth $55,000 after buying an additional 1,115 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in AdaptHealth by 15.4% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,663 shares of the company's stock worth $121,000 after acquiring an additional 1,690 shares during the period. Guggenheim Capital LLC raised its stake in AdaptHealth by 10.1% during the 4th quarter. Guggenheim Capital LLC now owns 16,613 shares of the company's stock worth $158,000 after acquiring an additional 1,525 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of AdaptHealth during the fourth quarter valued at approximately $169,000. 82.67% of the stock is currently owned by institutional investors.

AdaptHealth Price Performance

Shares of NASDAQ:AHCO traded down $0.10 during midday trading on Thursday, reaching $8.98. 770,550 shares of the company's stock traded hands, compared to its average volume of 1,286,083. AdaptHealth Corp. has a 1 year low of $7.11 and a 1 year high of $11.90. The company has a market cap of $1.21 billion, a P/E ratio of -5.44, a PEG ratio of 1.08 and a beta of 1.64. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.00 and a current ratio of 1.24. The company has a fifty day simple moving average of $8.99 and a two-hundred day simple moving average of $9.61.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada decreased their price target on shares of AdaptHealth from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. UBS Group reduced their target price on shares of AdaptHealth from $12.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Robert W. Baird upped their price objective on shares of AdaptHealth from $14.00 to $16.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Canaccord Genuity Group increased their price target on shares of AdaptHealth from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Finally, Truist Financial cut their price target on shares of AdaptHealth from $14.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $13.40.

About AdaptHealth

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.