Victory Capital Management Inc. Grows Stock Holdings in AdaptHealth Corp. (NASDAQ:AHCO)

Key Points

• Victory Capital Management Inc. increased its shareholding in AdaptHealth Corp. by 39.4%, owning 296,250 shares worth approximately $3.2 million as of its recent SEC filing.
• Several hedge funds also raised their stakes in AdaptHealth, with GAMMA Investing LLC increasing its ownership by 175.2%, indicating heightened investor interest in the company.
• AdaptHealth received a consensus "Buy" rating from analysts, although its target price has been recently lowered to $13.00 from $14.00 by analysts at both Truist Financial and Royal Bank of Canada.

Victory Capital Management Inc. boosted its holdings in shares of AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 39.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 296,250 shares of the company's stock after purchasing an additional 83,731 shares during the quarter. Victory Capital Management Inc. owned about 0.22% of AdaptHealth worth $3,211,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. 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 acquiring an additional 4,758 shares during the period. Guggenheim Capital LLC raised its stake in shares of AdaptHealth by 10.1% in the fourth quarter. Guggenheim Capital LLC now owns 16,613 shares of the company's stock valued at $158,000 after acquiring an additional 1,525 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of AdaptHealth in the fourth quarter valued at $169,000. Humankind Investments LLC raised its stake in shares of AdaptHealth by 18.3% in the fourth quarter. Humankind Investments LLC now owns 17,979 shares of the company's stock valued at $171,000 after acquiring an additional 2,776 shares during the period. Finally, Optimize Financial Inc purchased a new stake in shares of AdaptHealth in the fourth quarter valued at $189,000. Hedge funds and other institutional investors own 82.67% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Truist Financial reduced their target price on shares of AdaptHealth from $14.00 to $13.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Royal Bank Of Canada reduced their target price on shares of AdaptHealth from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $13.40.

AdaptHealth Trading Up 2.4%

AHCO stock opened at $9.44 on Monday. The company has a market capitalization of $1.27 billion, a PE ratio of 16.56, a P/E/G ratio of 0.91 and a beta of 1.63. AdaptHealth Corp. has a 12 month low of $7.11 and a 12 month high of $11.73. The firm's 50-day moving average is $9.03 and its 200 day moving average is $9.38. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.29 and a quick ratio of 1.07.

AdaptHealth 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.

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