Strs Ohio Makes New $695,000 Investment in AdaptHealth Corp. $AHCO

Key Points

• Strs Ohio has acquired a new position in AdaptHealth Corp. during the first quarter, purchasing 64,100 shares valued at approximately $695,000.
• Institutional investors own a significant portion of AdaptHealth, comprising 82.67% of total shares, with several other firms also increasing their stakes recently.
• Analysts have upgraded AdaptHealth's rating from "hold" to "buy," with an average price target set at $13.40 per share.

Strs Ohio bought a new stake in shares of AdaptHealth Corp. (NASDAQ:AHCO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 64,100 shares of the company's stock, valued at approximately $695,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AHCO. GAMMA Investing LLC boosted its holdings in AdaptHealth by 175.2% during the 1st quarter. GAMMA Investing LLC now owns 7,473 shares of the company's stock valued at $81,000 after acquiring an additional 4,758 shares during the period. Brooklyn Investment Group boosted its stake in shares of AdaptHealth by 531.8% in the 1st quarter. Brooklyn Investment Group now owns 7,563 shares of the company's stock valued at $82,000 after buying an additional 6,366 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of AdaptHealth in the 1st quarter valued at about $114,000. Vident Advisory LLC purchased a new position in shares of AdaptHealth in the 1st quarter valued at about $163,000. Finally, Legato Capital Management LLC purchased a new position in shares of AdaptHealth in the 1st quarter valued at about $167,000. 82.67% of the stock is currently owned by hedge funds and other institutional investors.

AdaptHealth Price Performance

Shares of AdaptHealth stock traded up $0.28 during trading on Tuesday, reaching $9.13. The company's stock had a trading volume of 66,210 shares, compared to its average volume of 1,381,209. 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 $11.63. The company has a market capitalization of $1.23 billion, a P/E ratio of 16.90, a price-to-earnings-growth ratio of 0.99 and a beta of 1.59. The business has a 50 day moving average price of $9.30 and a 200-day moving average price of $9.17.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded AdaptHealth from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Zacks Research cut AdaptHealth from a "hold" rating to a "strong sell" rating in a research note on Friday. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.40.

Insider Buying and Selling at AdaptHealth

In related 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 sale, the director directly owned 50,045 shares in the company, valued at $486,937.85. The trade was a 14.08% decrease in their ownership of the stock. The transaction was disclosed in a filing 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.