Hsbc Holdings PLC Sells 38,643 Shares of AdaptHealth Corp. $AHCO

Key Points

• Hsbc Holdings PLC has significantly reduced its stake in AdaptHealth Corp. by 74.0%, now holding 13,597 shares valued at approximately $147,000.
• During the same period, several institutional investors, including GAMMA Investing LLC and Brooklyn Investment Group, have increased their holdings in AdaptHealth by over 175% and 531%, respectively.
• AdaptHealth currently has a consensus rating of "Buy" from analysts, with a price target averaging $13.40.

Hsbc Holdings PLC lowered its position in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 74.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,597 shares of the company's stock after selling 38,643 shares during the quarter. Hsbc Holdings PLC's holdings in AdaptHealth were worth $147,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. SummerHaven Investment Management LLC raised its stake in shares of AdaptHealth by 1.7% in the first quarter. SummerHaven Investment Management LLC now owns 79,883 shares of the company's stock valued at $866,000 after acquiring an additional 1,329 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of AdaptHealth by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,931 shares of the company's stock valued at $552,000 after acquiring an additional 1,999 shares during the period. Oppenheimer Asset Management Inc. raised its stake in shares of AdaptHealth by 6.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 32,797 shares of the company's stock valued at $356,000 after acquiring an additional 2,081 shares during the period. New York State Teachers Retirement System raised its stake in shares of AdaptHealth by 3.3% in the first quarter. New York State Teachers Retirement System now owns 80,455 shares of the company's stock valued at $872,000 after acquiring an additional 2,600 shares during the period. Finally, Humankind Investments LLC raised its stake in shares of AdaptHealth by 18.3% in the fourth quarter. Humankind Investments LLC now owns 17,979 shares of the company's stock valued at $171,000 after acquiring an additional 2,776 shares during the period. Hedge funds and other institutional investors own 82.67% of the company's stock.

AdaptHealth Trading Up 4.0%

Shares of NASDAQ AHCO traded up $0.37 during mid-day trading on Thursday, reaching $9.53. The company had a trading volume of 1,367,056 shares, compared to its average volume of 827,890. The business's 50-day moving average is $9.33 and its 200-day moving average is $9.27. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.14. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 1.02 and a beta of 1.59. AdaptHealth Corp. has a 52 week low of $7.11 and a 52 week high of $11.70.

Insider Activity at AdaptHealth

In other news, Director David Solomon Williams III sold 8,200 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $9.73, for a total value of $79,786.00. Following the transaction, the director directly owned 50,045 shares in the company, 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 SEC, which is accessible through the SEC website. Insiders own 1.55% of the company's stock.

Analyst Upgrades and Downgrades

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 investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, AdaptHealth currently has a consensus rating of "Buy" and an average price target 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.