Bank of America Corp DE Cuts Stock Holdings in AdaptHealth Corp. (NASDAQ:AHCO)

Bank of America Corp DE lowered its stake in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 65.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 141,115 shares of the company's stock after selling 264,202 shares during the quarter. Bank of America Corp DE owned 0.10% of AdaptHealth worth $1,343,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in AdaptHealth by 24.1% during the 4th quarter. Blue Trust Inc. now owns 5,746 shares of the company's stock worth $55,000 after purchasing an additional 1,115 shares during the last quarter. Guggenheim Capital LLC raised its holdings in shares of 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. Sterling Capital Management LLC raised its holdings in shares of AdaptHealth by 5.2% during the 4th quarter. Sterling Capital Management LLC now owns 33,558 shares of the company's stock worth $319,000 after acquiring an additional 1,644 shares during the period. Rhumbline Advisers raised its holdings in shares of AdaptHealth by 0.5% during the 4th quarter. Rhumbline Advisers now owns 313,110 shares of the company's stock worth $2,981,000 after acquiring an additional 1,691 shares during the period. Finally, Swiss National Bank raised its holdings in AdaptHealth by 1.7% in the 4th quarter. Swiss National Bank now owns 171,900 shares of the company's stock valued at $1,636,000 after buying an additional 2,900 shares during the period. Institutional investors and hedge funds own 82.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AHCO shares. Robert W. Baird boosted 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. Truist Financial lowered their price objective on AdaptHealth from $14.00 to $13.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Royal Bank of Canada lowered their price objective on AdaptHealth from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Canaccord Genuity Group boosted their price objective on AdaptHealth from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Finally, UBS Group lowered their price target on AdaptHealth from $12.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AdaptHealth currently has an average rating of "Buy" and a consensus price target of $13.40.

AdaptHealth Stock Up 1.8%

AdaptHealth stock opened at $9.02 on Friday. 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 firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -5.47, a price-to-earnings-growth ratio of 1.08 and a beta of 1.64. AdaptHealth Corp. has a fifty-two week low of $7.11 and a fifty-two week high of $11.90. The stock's fifty day moving average is $8.83 and its two-hundred day moving average is $9.57.

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.

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