Arrowstreet Capital Limited Partnership Has $10.08 Million Stake in AdaptHealth Corp. $AHCO

Key Points

• Arrowstreet Capital increased its AdaptHealth stake by 87.7% in the first quarter, adding 395,668 shares to own 847,085 shares worth approximately $10.08 million, or 0.62% of the company.
• Institutional investors own 82.67% of AdaptHealth, with several major firms—including Vanguard, Deerfield Management and Dimensional Fund Advisors—also increasing their positions.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $14.14, compared with the stock’s reported opening price of $10.80; one insider separately sold 11,275 shares for about $113,427.

Arrowstreet Capital Limited Partnership increased its stake in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 87.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 847,085 shares of the company's stock after purchasing an additional 395,668 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.62% of AdaptHealth worth $10,080,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in AdaptHealth by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 11,768,599 shares of the company's stock valued at $117,215,000 after buying an additional 491,106 shares during the last quarter. Deerfield Management Company L.P. boosted its position in AdaptHealth by 15.9% during the 3rd quarter. Deerfield Management Company L.P. now owns 11,477,730 shares of the company's stock worth $102,726,000 after acquiring an additional 1,572,835 shares during the last quarter. Reinhart Partners LLC. boosted its holdings in AdaptHealth by 10.6% during the fourth quarter. Reinhart Partners LLC. now owns 8,100,785 shares of the company's stock worth $80,684,000 after purchasing an additional 773,727 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in AdaptHealth by 8.1% during the first quarter. Dimensional Fund Advisors LP now owns 6,920,973 shares of the company's stock worth $82,353,000 after purchasing an additional 518,274 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in AdaptHealth by 25.1% in the first quarter. Principal Financial Group Inc. now owns 2,784,316 shares of the company's stock valued at $33,133,000 after purchasing an additional 558,357 shares in the last quarter. Institutional investors own 82.67% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AHCO shares. Truist Financial lifted their price target on shares of AdaptHealth from $13.00 to $14.00 and gave the company a "buy" rating in a research note on Monday, April 13th. UBS Group decreased their price objective on AdaptHealth from $15.00 to $14.00 and set a "buy" rating for the company in a report on Wednesday, May 6th. Royal Bank Of Canada lifted their target price on AdaptHealth from $13.00 to $15.00 and gave the company an "outperform" rating in a research report on Monday, May 11th. Robert W. Baird dropped their target price on AdaptHealth from $18.00 to $15.00 and set an "outperform" rating on the stock in a report on Monday, July 6th. Finally, Canaccord Genuity Group increased their price target on AdaptHealth from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $14.14.

AdaptHealth Stock Up 1.1%

AHCO opened at $10.80 on Friday. AdaptHealth Corp. has a 1-year low of $8.51 and a 1-year high of $13.43. The stock's fifty day simple moving average is $10.28 and its 200 day simple moving average is $10.68. The company has a current ratio of 0.92, a quick ratio of 0.71 and a debt-to-equity ratio of 1.21. The stock has a market cap of $1.47 billion, a PE ratio of -17.42, a price-to-earnings-growth ratio of 0.54 and a beta of 1.45.

Insider Activity at AdaptHealth

In other news, insider Russell E. Schuster III sold 11,275 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $10.06, for a total value of $113,426.50. Following the transaction, the insider directly owned 136,538 shares of the company's stock, valued at $1,373,572.28. This represents a 7.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 currently owned by corporate insiders.

About AdaptHealth

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.

Want to see what other hedge funds are holding AHCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AdaptHealth Corp. (NASDAQ:AHCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.