AdaptHealth Corp. (NASDAQ:AHCO) Position Trimmed by Bank of America Corp DE

Bank of America Corp DE lowered its holdings in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 65.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 141,115 shares of the company's stock after selling 264,202 shares during the period. Bank of America Corp DE owned about 0.10% of AdaptHealth worth $1,343,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Barclays PLC increased its stake in shares of AdaptHealth by 361.3% in the third quarter. Barclays PLC now owns 181,240 shares of the company's stock valued at $2,034,000 after purchasing an additional 141,949 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of AdaptHealth in the fourth quarter valued at approximately $229,000. Proficio Capital Partners LLC acquired a new stake in shares of AdaptHealth in the fourth quarter valued at approximately $181,000. Empowered Funds LLC increased its stake in shares of AdaptHealth by 25.0% in the fourth quarter. Empowered Funds LLC now owns 713,643 shares of the company's stock valued at $6,794,000 after purchasing an additional 142,743 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in shares of AdaptHealth by 134.1% in the fourth quarter. Teacher Retirement System of Texas now owns 45,225 shares of the company's stock valued at $431,000 after purchasing an additional 25,909 shares during the period. Institutional investors and hedge funds own 82.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AHCO. Robert W. Baird raised their price target on shares of AdaptHealth from $14.00 to $16.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Royal Bank of Canada dropped 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. Truist Financial lowered their price objective on shares of AdaptHealth from $14.00 to $13.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Canaccord Genuity Group raised their price objective on shares of AdaptHealth from $13.00 to $14.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Finally, UBS Group lowered their price objective on shares of AdaptHealth from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $13.40.

AdaptHealth Price Performance

Shares of NASDAQ AHCO traded down $0.08 during mid-day trading on Monday, reaching $8.82. 829,623 shares of the company traded hands, compared to its average volume of 1,283,934. AdaptHealth Corp. has a fifty-two week low of $7.11 and a fifty-two week high of $11.90. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.00. The firm has a market cap of $1.19 billion, a PE ratio of -5.35, a price-to-earnings-growth ratio of 1.08 and a beta of 1.64. The stock has a fifty day simple moving average of $8.75 and a 200-day simple moving average of $9.55.

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.