Goldman Sachs Group Inc. Boosts Stake in AdaptHealth Corp. $AHCO

Key Points

• Goldman Sachs Group Inc. increased its holdings in AdaptHealth Corp. by 32.4%, owning a total of 571,232 shares valued at approximately $6.19 million after acquiring 139,828 additional shares in the first quarter.
• Multiple institutional investors have significantly raised their stakes in AdaptHealth, with GAMMA Investing LLC increasing holdings by 175.2% and Brooklyn Investment Group by 531.8% during the same period.
• Wall Street Zen upgraded AdaptHealth from a "hold" to a "buy" rating, with a consensus rating of "Buy" and an average price target of $13.40 among five analysts.

Goldman Sachs Group Inc. increased its holdings in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 32.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 571,232 shares of the company's stock after buying an additional 139,828 shares during the period. Goldman Sachs Group Inc. owned about 0.42% of AdaptHealth worth $6,192,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Reinhart Partners LLC. raised its stake in AdaptHealth by 15.5% in the first quarter. Reinhart Partners LLC. now owns 7,236,262 shares of the company's stock worth $78,441,000 after buying an additional 969,408 shares in the last quarter. Palisade Capital Management LP raised its stake in AdaptHealth by 12.3% in the first 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 in the last quarter. Iron Triangle Partners LP bought a new position in AdaptHealth in the first quarter worth approximately $17,496,000. Charles Schwab Investment Management Inc. raised its stake in AdaptHealth by 14.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,301,652 shares of the company's stock worth $14,110,000 after buying an additional 163,272 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in AdaptHealth by 10.3% in the first quarter. New York State Common Retirement Fund now owns 836,773 shares of the company's stock worth $9,071,000 after buying an additional 78,211 shares in the last quarter. Institutional investors own 82.67% of the company's stock.

Insider Buying and Selling

In other AdaptHealth news, Director David Solomon Williams III sold 8,200 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $9.73, for a total value of $79,786.00. Following the sale, the director directly owned 50,045 shares of the company's stock, valued at approximately $486,937.85. This represents a 14.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.55% of the company's stock.

AdaptHealth Stock Performance

NASDAQ:AHCO traded down $0.19 during mid-day trading on Friday, hitting $9.03. The company's stock had a trading volume of 244,267 shares, compared to its average volume of 1,377,515. AdaptHealth Corp. has a 1 year low of $7.11 and a 1 year high of $11.63. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.06 and a quick ratio of 0.82. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 0.99 and a beta of 1.59. The business's fifty day moving average is $9.31 and its two-hundred day moving average is $9.21.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of AdaptHealth from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, AdaptHealth has a consensus rating of "Buy" and a consensus price target of $13.40.

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.