Public Sector Pension Investment Board Boosts Stock Position in AdaptHealth Corp. $AHCO

Key Points

• The Public Sector Pension Investment Board increased its position in AdaptHealth Corp. by 27.3%, owning 336,876 shares valued at approximately $3.65 million.
• Several institutional investors also boosted their positions in AdaptHealth, with Reinhart Partners LLC increasing its holdings by 15.5%, owning over 7.2 million shares valued at $78.44 million.
• Analysts have mixed views on AdaptHealth, with target prices being cut by Truist Financial and Royal Bank of Canada, while Wall Street Zen upgraded it from a "hold" to a "buy" rating, reflecting a consensus rating of "Buy" with an average target price of $13.40.

Public Sector Pension Investment Board lifted its stake in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 27.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 336,876 shares of the company's stock after buying an additional 72,174 shares during the quarter. Public Sector Pension Investment Board owned about 0.25% of AdaptHealth worth $3,652,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of AdaptHealth by 175.2% in the first quarter. GAMMA Investing LLC now owns 7,473 shares of the company's stock worth $81,000 after buying an additional 4,758 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of AdaptHealth in the first quarter worth about $114,000. Legato Capital Management LLC bought a new stake in AdaptHealth during the 1st quarter valued at approximately $167,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in AdaptHealth by 25.3% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 15,871 shares of the company's stock valued at $172,000 after purchasing an additional 3,208 shares during the period. Finally, Guggenheim Capital LLC raised its stake in AdaptHealth by 10.1% during the 4th quarter. Guggenheim Capital LLC now owns 16,613 shares of the company's stock valued at $158,000 after purchasing an additional 1,525 shares during the period. Institutional investors own 82.67% of the company's stock.

AdaptHealth Price Performance

NASDAQ AHCO traded up $0.29 during trading on Friday, hitting $9.61. 1,382,619 shares of the stock traded hands, compared to its average volume of 1,196,442. The company has a market capitalization of $1.30 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 1.07 and a beta of 1.58. The firm has a 50-day simple moving average of $9.22 and a 200-day simple moving average of $9.24. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.14. AdaptHealth Corp. has a 12-month low of $7.11 and a 12-month high of $11.70.

Analyst Ratings Changes

Several brokerages recently issued reports on AHCO. Royal Bank Of Canada decreased their target price 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 decreased their target price 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 raised 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 data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $13.40.

Insider Activity at AdaptHealth

In other news, Director David Solomon Williams III sold 8,200 shares of AdaptHealth stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $9.73, for a total value of $79,786.00. Following the completion of the transaction, the director owned 50,045 shares in the company, valued at approximately $486,937.85. The trade was a 14.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.55% of the company's stock.

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.