Bessemer Group Inc. Acquires 156,095 Shares of AdaptHealth Corp. $AHCO

Key Points

• Bessemer Group Inc. increased its AdaptHealth stake by 47.8% in the first quarter, buying 156,095 additional shares and bringing its total holding to 482,937 shares worth about $5.75 million.
• Institutional ownership remains heavy, with hedge funds and other institutional investors holding 82.67% of AdaptHealth’s stock. Several firms, including Principal Financial Group and Reinhart Partners, also boosted their positions recently.
• Analyst sentiment is mixed but generally positive: the stock has a consensus “Moderate Buy” rating and an average target price of $13.86, though some firms lowered targets and Weiss Ratings reiterated a sell rating.

Bessemer Group Inc. boosted its holdings in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 47.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 482,937 shares of the company's stock after buying an additional 156,095 shares during the period. Bessemer Group Inc. owned approximately 0.36% of AdaptHealth worth $5,746,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. SG Americas Securities LLC increased its holdings in shares of AdaptHealth by 386.3% in the fourth quarter. SG Americas Securities LLC now owns 78,141 shares of the company's stock worth $778,000 after purchasing an additional 62,073 shares during the period. Kennedy Capital Management LLC boosted its stake in AdaptHealth by 15.2% during the fourth quarter. Kennedy Capital Management LLC now owns 2,408,038 shares of the company's stock valued at $23,984,000 after buying an additional 317,900 shares during the period. Reinhart Partners LLC. grew its position 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 buying an additional 773,727 shares in the last quarter. Hudson Edge Investment Partners Inc. bought a new position in AdaptHealth in the 4th quarter worth about $614,000. Finally, Principal Financial Group Inc. increased its stake in AdaptHealth by 25.1% in the 1st quarter. Principal Financial Group Inc. now owns 2,784,316 shares of the company's stock worth $33,133,000 after acquiring an additional 558,357 shares during the last quarter. Hedge funds and other institutional investors own 82.67% of the company's stock.

AdaptHealth Price Performance

Shares of AdaptHealth stock opened at $10.98 on Tuesday. 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 firm has a market capitalization of $1.49 billion, a PE ratio of -17.71, a price-to-earnings-growth ratio of 0.56 and a beta of 1.45. The business's 50-day moving average price is $10.25 and its 200-day moving average price is $10.63. AdaptHealth Corp. has a 12 month low of $8.51 and a 12 month high of $13.43.

Insider Transactions at AdaptHealth

In other AdaptHealth news, insider Russell E. Schuster III sold 11,275 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $10.06, for a total value of $113,426.50. Following the completion of the sale, the insider 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 filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.95% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AHCO. Robert W. Baird dropped their price target on AdaptHealth from $18.00 to $15.00 and set an "outperform" rating for the company in a research report on Monday, July 6th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $11.00 target price on shares of AdaptHealth in a research note on Monday, April 20th. UBS Group dropped their target price on shares of AdaptHealth from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, May 6th. Canaccord Genuity Group boosted their price target on shares of AdaptHealth from $14.00 to $16.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of AdaptHealth in a report on Friday, May 22nd. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $13.86.

AdaptHealth 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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