Palisade Capital Management LP Grows Stock Holdings in AdaptHealth Corp. (NASDAQ:AHCO)

Palisade Capital Management LP lifted its holdings in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 12.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,711,142 shares of the company's stock after buying 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 reporting period.

A number of other large investors have also recently made changes to their positions in the business. Oppenheimer Asset Management Inc. increased its position in AdaptHealth by 6.8% during 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 last quarter. Janus Henderson Group PLC increased its position in AdaptHealth by 42.9% during the fourth quarter. Janus Henderson Group PLC now owns 38,298 shares of the company's stock valued at $364,000 after acquiring an additional 11,500 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in AdaptHealth during the first quarter valued at $854,000. BNP Paribas Financial Markets bought a new position in AdaptHealth during the fourth quarter valued at $229,000. Finally, Proficio Capital Partners LLC bought a new position in AdaptHealth during the fourth quarter valued at $181,000. 82.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on AHCO. Royal Bank Of Canada cut their price objective on shares of AdaptHealth from $14.00 to $13.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Truist Financial cut their price target on shares of AdaptHealth from $14.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $13.40.

AdaptHealth Stock Down 4.2%

NASDAQ:AHCO traded down $0.39 during mid-day trading on Friday, reaching $8.98. The company's stock had a trading volume of 800,457 shares, compared to its average volume of 1,326,935. AdaptHealth Corp. has a 1 year low of $7.11 and a 1 year high of $11.90. The stock has a fifty day moving average of $8.84 and a 200-day moving average of $9.44. The firm 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 quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.25.

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.