Readystate Asset Management LP Makes New Investment in AdaptHealth Corp. (NASDAQ:AHCO)

Readystate Asset Management LP purchased a new stake in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 44,139 shares of the company's stock, valued at approximately $478,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Y Intercept Hong Kong Ltd purchased a new stake in AdaptHealth in the first quarter worth $114,000. Allianz Asset Management GmbH boosted its stake in AdaptHealth by 34.4% during the first quarter. Allianz Asset Management GmbH now owns 73,500 shares of the company's stock valued at $797,000 after buying an additional 18,800 shares during the period. Foundry Partners LLC raised its position in AdaptHealth by 1.4% during the first quarter. Foundry Partners LLC now owns 815,036 shares of the company's stock valued at $8,835,000 after purchasing an additional 11,025 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new stake in AdaptHealth during the first quarter valued at about $1,466,000. Finally, Bailard Inc. purchased a new stake in AdaptHealth during the first quarter valued at about $322,000. 82.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AHCO shares. Royal Bank Of Canada reduced their price target on AdaptHealth from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Truist Financial lowered their price objective on AdaptHealth from $14.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $13.40.

AdaptHealth Price Performance

AHCO stock traded down $0.42 during trading on Thursday, reaching $9.22. The company's stock had a trading volume of 1,332,033 shares, compared to its average volume of 1,361,685. The company has a market capitalization of $1.24 billion, a P/E ratio of 16.18, a price-to-earnings-growth ratio of 0.93 and a beta of 1.63. The company's fifty day moving average is $9.02 and its 200-day moving average is $9.39. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.25. AdaptHealth Corp. has a 1 year low of $7.11 and a 1 year high of $11.90.

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.