Palisade Capital Management LP Purchases 297,268 Shares of AdaptHealth Corp. (NASDAQ:AHCO)

Palisade Capital Management LP grew its position in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 12.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,711,142 shares of the company's stock after purchasing an additional 297,268 shares during the period. Palisade Capital Management LP owned about 2.01% of AdaptHealth worth $29,389,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. grew 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 worth $356,000 after acquiring an additional 2,081 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of AdaptHealth by 42.9% in the fourth quarter. Janus Henderson Group PLC now owns 38,298 shares of the company's stock valued at $364,000 after buying an additional 11,500 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of AdaptHealth in the first quarter worth about $854,000. BNP Paribas Financial Markets bought a new position in shares of AdaptHealth in the fourth quarter worth about $229,000. Finally, Proficio Capital Partners LLC bought a new stake in AdaptHealth during the 4th quarter worth about $181,000. Institutional investors and hedge funds own 82.67% of the company's stock.

AdaptHealth Trading Down 4.2%

Shares of NASDAQ:AHCO traded down $0.39 during mid-day trading on Friday, hitting $8.98. The company had a trading volume of 800,457 shares, compared to its average volume of 1,326,935. The firm has a fifty day moving average price of $8.84 and a 200 day moving average price of $9.43. The company has a market capitalization of $1.21 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 1.08 and a beta of 1.63. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.29 and a quick ratio of 1.07. AdaptHealth Corp. has a one year low of $7.11 and a one year high of $11.90.

Analysts Set New Price Targets

AHCO has been the subject of several analyst reports. Royal Bank Of Canada decreased their target price on AdaptHealth from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Truist Financial dropped their price target on shares of AdaptHealth from $14.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company 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.