Connor Clark & Lunn Investment Management Ltd. Acquires New Stake in AdaptHealth Corp. $AHCO

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of AdaptHealth Corp. (NASDAQ:AHCO - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 401,985 shares of the company's stock, valued at approximately $4,358,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.30% of AdaptHealth at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of AdaptHealth by 14.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,301,652 shares of the company's stock valued at $14,110,000 after acquiring an additional 163,272 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of AdaptHealth during the first quarter worth $2,503,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of AdaptHealth by 25.3% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 15,871 shares of the company's stock worth $172,000 after buying an additional 3,208 shares in the last quarter. Seizert Capital Partners LLC purchased a new stake in shares of AdaptHealth during the first quarter worth $334,000. Finally, XTX Topco Ltd purchased a new stake in shares of AdaptHealth during the first quarter worth $468,000. Hedge funds and other institutional investors own 82.67% of the company's stock.

AdaptHealth Price Performance

AHCO stock remained flat at $9.48 during mid-day trading on Monday. 360,104 shares of the company's stock traded hands, compared to its average volume of 1,442,768. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 17.55, a P/E/G ratio of 1.06 and a beta of 1.58. The firm's 50-day simple moving average is $9.15 and its two-hundred day simple moving average is $9.27. AdaptHealth Corp. has a one year low of $7.11 and a one year high of $11.70.

Analysts Set New Price Targets

A number of brokerages recently commented on AHCO. Truist Financial reduced their price objective on AdaptHealth from $14.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Wall Street Zen raised shares of AdaptHealth from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Royal Bank Of Canada dropped their price target on shares of AdaptHealth from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, AdaptHealth currently has an average rating of "Buy" and an average target price of $13.40.

About AdaptHealth

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.