Lazard Asset Management LLC Grows Stock Holdings in AdaptHealth Corp. $AHCO

Key Points

• Lazard Asset Management increased its AdaptHealth stake by 35% in the first quarter to 1.67 million shares, worth about $19.9 million. Institutional investors and hedge funds collectively own 82.67% of the company.
• Analyst sentiment is mostly positive, with seven Buy ratings, one Hold and one Sell. AdaptHealth has a “Moderate Buy” consensus rating and an average price target of $14.14.
• Insider Russell E. Schuster III sold 11,275 shares for approximately $113,427 under a pre-arranged Rule 10b5-1 plan. AHCO recently opened at $11.22, versus a 12-month trading range of $8.51 to $13.43.

Lazard Asset Management LLC boosted its stake in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 35.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,669,454 shares of the company's stock after acquiring an additional 432,664 shares during the period. Lazard Asset Management LLC owned 1.23% of AdaptHealth worth $19,867,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. lifted its position in AdaptHealth by 433.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company's stock worth $26,000 after acquiring an additional 2,100 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of AdaptHealth by 22.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company's stock valued at $70,000 after purchasing an additional 1,279 shares during the period. Assetmark Inc. increased its holdings in shares of AdaptHealth by 54.8% in the first quarter. Assetmark Inc. now owns 6,952 shares of the company's stock valued at $83,000 after purchasing an additional 2,460 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of AdaptHealth by 318.0% during the second quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company's stock worth $90,000 after purchasing an additional 7,297 shares during the last quarter. Finally, Tidal Investments LLC purchased a new stake in shares of AdaptHealth during the second quarter worth approximately $96,000. Institutional investors and hedge funds own 82.67% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Weiss Ratings reiterated a "sell (d)" rating on shares of AdaptHealth in a research report on Friday, May 22nd. Canaccord Genuity Group boosted their price objective on shares of AdaptHealth from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Jefferies Financial Group upgraded shares of AdaptHealth from a "hold" rating to a "buy" rating and upped their price objective for the stock from $11.00 to $13.00 in a research report on Tuesday, July 21st. Truist Financial raised their target price on shares of AdaptHealth from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Monday, April 13th. Finally, Wall Street Zen raised shares of AdaptHealth from a "hold" rating to a "buy" rating in a report on Sunday, June 14th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $14.14.

Insiders Place Their Bets

In related news, insider Russell E. Schuster III sold 11,275 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $10.06, for a total transaction of $113,426.50. Following the transaction, 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 legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.95% of the stock is owned by corporate insiders.

AdaptHealth Stock Performance

Shares of AHCO stock opened at $11.22 on Wednesday. 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 stock has a 50 day simple moving average of $10.27 and a 200-day simple moving average of $10.67. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -18.10, a price-to-earnings-growth ratio of 0.56 and a beta of 1.45. AdaptHealth Corp. has a 12-month low of $8.51 and a 12-month high of $13.43.

AdaptHealth Company 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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