Vanguard Group Inc. Sells 287,083 Shares of AdaptHealth Corp. $AHCO

Key Points

• Vanguard Group Inc. reduced its holdings in AdaptHealth Corp. by 2.3% during the first quarter, now owning 12,253,591 shares valued at approximately $132.8 million.
• Other institutional investors are making significant moves, with GAMMA Investing LLC increasing its position by 175.2%, while several firms have decreased their target prices for AdaptHealth's stock.
• AdaptHealth's stock price is currently at $9.32, with a consensus rating of "Buy" and a price target of $13.40 according to analyst reports.

Vanguard Group Inc. trimmed its position in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,253,591 shares of the company's stock after selling 287,083 shares during the period. Vanguard Group Inc. owned about 9.09% of AdaptHealth worth $132,829,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Reinhart Partners LLC. increased its stake in AdaptHealth by 15.5% in the 1st quarter. Reinhart Partners LLC. now owns 7,236,262 shares of the company's stock worth $78,441,000 after purchasing an additional 969,408 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in AdaptHealth by 17.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,379,715 shares of the company's stock valued at $32,174,000 after acquiring an additional 505,180 shares during the last quarter. Palisade Capital Management LP lifted its stake in AdaptHealth by 12.3% in the first quarter. Palisade Capital Management LP now owns 2,711,142 shares of the company's stock valued at $29,389,000 after buying an additional 297,268 shares during the period. Bridgeway Capital Management LLC raised its position in shares of AdaptHealth by 27.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,324,043 shares of the company's stock worth $12,605,000 after purchasing an additional 283,143 shares during the period. Finally, Northern Trust Corp raised its position in shares of AdaptHealth by 11.1% during the fourth quarter. Northern Trust Corp now owns 1,172,265 shares of the company's stock worth $11,160,000 after purchasing an additional 116,981 shares during the period. Institutional investors and hedge funds own 82.67% of the company's stock.

Insiders Place Their Bets

In related 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 transaction of $79,786.00. Following the sale, the director owned 50,045 shares of the company's stock, valued at $486,937.85. The trade was a 14.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wall Street Zen raised AdaptHealth from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Royal Bank Of Canada cut their target price on AdaptHealth from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Finally, Truist Financial decreased their price target on AdaptHealth from $14.00 to $13.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $13.40.

AdaptHealth Stock Performance

NASDAQ AHCO traded up $0.01 on Tuesday, reaching $9.24. 343,588 shares of the company's stock traded hands, compared to its average volume of 1,420,270. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 17.16, a P/E/G ratio of 1.07 and a beta of 1.58. AdaptHealth Corp. has a fifty-two week low of $7.11 and a fifty-two week high of $11.70. The stock has a 50 day moving average price of $9.23 and a 200-day moving average price of $9.24. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.82 and a current ratio of 1.06.

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.