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 raised its position in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 27.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period.

Other hedge funds 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 valued at $81,000 after buying an additional 4,758 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of AdaptHealth in the first quarter valued at $114,000. Legato Capital Management LLC bought a new stake in shares of AdaptHealth in the first quarter valued at $167,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of 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 shares of 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. 82.67% of the stock is currently owned by institutional investors.

AdaptHealth Price Performance

Shares of AHCO traded up $0.29 during midday trading on Friday, reaching $9.61. The stock had a trading volume of 1,382,619 shares, compared to its average volume of 1,430,520. The company's 50-day moving average is $9.20 and its 200 day moving average is $9.25. AdaptHealth Corp. has a 12-month low of $7.11 and a 12-month high of $11.70. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 1.04 and a beta of 1.58.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Royal Bank Of Canada decreased 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. Wall Street Zen upgraded AdaptHealth from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Truist Financial decreased 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. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $13.40.

AdaptHealth Company 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.