New Age Alpha Advisors LLC Takes Position in AdaptHealth Corp. (NASDAQ:AHCO)

Key Points

• New Age Alpha Advisors LLC acquired 230,950 shares of AdaptHealth Corp., valued at approximately $2.5 million, representing about 0.17% of the company as of the end of the 1st quarter.
• Analysts have lowered the price target for AdaptHealth from $14.00 to $13.00, while the stock is currently rated as a "buy" by six analysts, reflecting an average target price of $13.40.
• AdaptHealth's stock is trading at $9.19 with a market capitalization of $1.24 billion, and the company specializes in selling home medical equipment and related services in the United States.

New Age Alpha Advisors LLC bought a new stake in shares of AdaptHealth Corp. (NASDAQ:AHCO - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 230,950 shares of the company's stock, valued at approximately $2,503,000. New Age Alpha Advisors LLC owned about 0.17% of AdaptHealth at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of AdaptHealth by 175.2% during the 1st quarter. GAMMA Investing LLC now owns 7,473 shares of the company's stock valued at $81,000 after buying an additional 4,758 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of AdaptHealth by 6.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 32,797 shares of the company's stock valued at $356,000 after buying an additional 2,081 shares during the last quarter. New York State Teachers Retirement System boosted its stake in shares of AdaptHealth by 3.3% during the 1st quarter. New York State Teachers Retirement System now owns 80,455 shares of the company's stock valued at $872,000 after buying an additional 2,600 shares during the last quarter. Janus Henderson Group PLC lifted its stake in AdaptHealth by 42.9% during the fourth quarter. Janus Henderson Group PLC now owns 38,298 shares of the company's stock worth $364,000 after purchasing an additional 11,500 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in AdaptHealth during the first quarter worth $854,000. 82.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Royal Bank Of Canada reduced their price objective on AdaptHealth from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. 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 note on Monday, May 12th. Finally, Wall Street Zen upgraded AdaptHealth from a "hold" rating to a "buy" rating in a research note on Saturday. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $13.40.

AdaptHealth Stock Performance

AHCO stock traded down $0.09 during mid-day trading on Friday, reaching $9.19. The company had a trading volume of 950,108 shares, compared to its average volume of 1,201,656. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $1.24 billion, a P/E ratio of 17.02, a P/E/G ratio of 0.89 and a beta of 1.58. AdaptHealth Corp. has a one year low of $7.11 and a one year high of $11.70. The stock's 50-day simple moving average is $9.09 and its two-hundred day simple moving average is $9.32.

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.