AdaptHealth Corp. $AHCO Shares Acquired by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in AdaptHealth Corp. by 14.3%, acquiring an additional 163,272 shares during the first quarter, bringing its total holdings to approximately 1.3 million shares valued at $14.1 million.
• Institutional investors now control 82.67% of AdaptHealth's stock, with several funds, including Reinhart Partners and Dimensional Fund Advisors, increasing their positions significantly.
• AdaptHealth's stock has been upgraded from a "hold" to a "buy" rating, with a current consensus target price set at $13.40 by analysts, reflecting positive market sentiment surrounding the company's future performance.

Charles Schwab Investment Management Inc. raised its stake in shares of AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 14.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,301,652 shares of the company's stock after buying an additional 163,272 shares during the period. Charles Schwab Investment Management Inc. owned about 0.97% of AdaptHealth worth $14,110,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Reinhart Partners LLC. grew its position in shares of AdaptHealth by 15.5% during the 1st quarter. Reinhart Partners LLC. now owns 7,236,262 shares of the company's stock valued at $78,441,000 after acquiring an additional 969,408 shares during the period. Dimensional Fund Advisors LP boosted its holdings in AdaptHealth by 17.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,379,715 shares of the company's stock worth $32,174,000 after buying an additional 505,180 shares during the last quarter. Palisade Capital Management LP boosted its holdings in AdaptHealth by 12.3% in the 1st quarter. Palisade Capital Management LP now owns 2,711,142 shares of the company's stock worth $29,389,000 after buying an additional 297,268 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of AdaptHealth by 27.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,324,043 shares of the company's stock worth $12,605,000 after purchasing an additional 283,143 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in shares of AdaptHealth during the 1st quarter worth approximately $2,503,000. Hedge funds and other institutional investors own 82.67% of the company's stock.

Insider Buying and Selling at AdaptHealth

In related news, Director David Solomon Williams III sold 8,200 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $9.73, for a total transaction of $79,786.00. Following the sale, the director owned 50,045 shares in the company, valued at approximately $486,937.85. This trade represents a 14.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Royal Bank Of Canada lowered their target price on AdaptHealth from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Truist Financial cut their target price on AdaptHealth from $14.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Finally, Wall Street Zen raised AdaptHealth from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $13.40.

AdaptHealth Stock Performance

Shares of AHCO traded down $0.02 during mid-day trading on Thursday, hitting $9.20. 291,487 shares of the company's stock were exchanged, compared to its average volume of 1,411,210. The firm has a market capitalization of $1.24 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.03 and a beta of 1.58. AdaptHealth Corp. has a fifty-two week low of $7.11 and a fifty-two week high of $11.70. The business's 50 day moving average is $9.26 and its two-hundred day moving average is $9.24. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.14.

AdaptHealth 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.