AdaptHealth Corp. $AHCO Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in AdaptHealth by 96.5% in Q1, owning a total of 383,464 shares valued at approximately $4.16 million.
• Institutional investors now hold 82.67% of AdaptHealth's stock, indicating strong interest from major investment firms.
• Analysts have given AdaptHealth a consensus "Buy" rating with a target price of $13.40, despite some firms lowering their target prices.

Russell Investments Group Ltd. lifted its holdings in shares of AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 96.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 383,464 shares of the company's stock after purchasing an additional 188,293 shares during the period. Russell Investments Group Ltd. owned about 0.28% of AdaptHealth worth $4,157,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Public Sector Pension Investment Board boosted its position in AdaptHealth by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 336,876 shares of the company's stock worth $3,652,000 after acquiring an additional 72,174 shares during the last quarter. Nuveen LLC acquired a new stake in AdaptHealth during the first quarter worth approximately $3,427,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in AdaptHealth during the first quarter worth approximately $4,358,000. Charles Schwab Investment Management Inc. boosted its position in AdaptHealth by 14.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,301,652 shares of the company's stock worth $14,110,000 after acquiring an additional 163,272 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in AdaptHealth during the first quarter worth approximately $2,503,000. Institutional investors and hedge funds own 82.67% of the company's stock.

AdaptHealth Trading Up 0.3%

Shares of AHCO traded up $0.03 during mid-day trading on Thursday, reaching $9.24. The company had a trading volume of 790,469 shares, compared to its average volume of 1,169,081. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 1.03 and a beta of 1.58. The firm has a fifty day simple moving average of $9.27 and a 200-day simple moving average of $9.24. AdaptHealth Corp. has a fifty-two week low of $7.11 and a fifty-two week 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.

Analysts Set New Price Targets

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

Insider Buying and Selling at AdaptHealth

In other AdaptHealth news, Director David Solomon Williams III sold 8,200 shares of AdaptHealth stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $9.73, for a total value of $79,786.00. Following the transaction, the director owned 50,045 shares in the company, valued at $486,937.85. This trade represents a 14.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.55% of the stock is currently owned by company insiders.

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.