AdaptHealth Corp. (NASDAQ:AHCO) Shares Acquired by Victory Capital Management Inc.

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

A number of other large investors have also modified their holdings of the stock. SummerHaven Investment Management LLC increased its position in shares of AdaptHealth by 1.7% during the first quarter. SummerHaven Investment Management LLC now owns 79,883 shares of the company's stock worth $866,000 after acquiring an additional 1,329 shares during the period. Guggenheim Capital LLC grew its stake in shares of AdaptHealth by 10.1% during the fourth quarter. Guggenheim Capital LLC now owns 16,613 shares of the company's stock worth $158,000 after purchasing an additional 1,525 shares in the last quarter. Sterling Capital Management LLC grew its stake in shares of AdaptHealth by 5.2% during the fourth quarter. Sterling Capital Management LLC now owns 33,558 shares of the company's stock worth $319,000 after purchasing an additional 1,644 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of AdaptHealth by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,931 shares of the company's stock worth $552,000 after purchasing an additional 1,999 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in AdaptHealth by 6.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 32,797 shares of the company's stock valued at $356,000 after acquiring an additional 2,081 shares in the last quarter. Hedge funds and other institutional investors own 82.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AHCO shares. Truist Financial decreased their price objective on shares of AdaptHealth from $14.00 to $13.00 and set a "buy" rating for the company 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 for the company in a report on Thursday, May 8th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AdaptHealth presently has a consensus rating of "Buy" and an average target price of $13.40.

AdaptHealth Price Performance

AdaptHealth stock traded down $0.22 during mid-day trading on Thursday, reaching $8.91. The company had a trading volume of 286,961 shares, compared to its average volume of 1,444,731. AdaptHealth Corp. has a 1 year low of $7.11 and a 1 year high of $11.73. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.29 and a quick ratio of 1.07. The company has a market capitalization of $1.20 billion, a P/E ratio of 15.64, a P/E/G ratio of 0.90 and a beta of 1.63. The stock's 50-day simple moving average is $9.04 and its 200-day simple moving average is $9.37.

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.