Hsbc Holdings PLC Increases Stock Position in AdaptHealth Corp. (NASDAQ:AHCO)

Hsbc Holdings PLC grew its position in shares of AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 271.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,240 shares of the company's stock after purchasing an additional 38,184 shares during the period. Hsbc Holdings PLC's holdings in AdaptHealth were worth $493,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AHCO. Barclays PLC boosted its position in AdaptHealth by 361.3% during the third quarter. Barclays PLC now owns 181,240 shares of the company's stock valued at $2,034,000 after buying an additional 141,949 shares during the period. Franklin Resources Inc. lifted its stake in shares of AdaptHealth by 20.2% in the 3rd quarter. Franklin Resources Inc. now owns 65,601 shares of the company's stock valued at $737,000 after acquiring an additional 11,037 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in AdaptHealth by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 191,833 shares of the company's stock valued at $2,154,000 after acquiring an additional 81,097 shares during the period. Harbor Capital Advisors Inc. increased its stake in AdaptHealth by 5.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 474,722 shares of the company's stock worth $4,519,000 after purchasing an additional 24,882 shares during the period. Finally, Reinhart Partners LLC. increased its stake in AdaptHealth by 1.1% in the 4th quarter. Reinhart Partners LLC. now owns 6,266,854 shares of the company's stock worth $59,660,000 after purchasing an additional 68,212 shares during the period. Institutional investors own 82.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. UBS Group cut their target price on shares of AdaptHealth from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Canaccord Genuity Group raised their price target on shares of AdaptHealth from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Robert W. Baird upped their price objective on shares of AdaptHealth from $14.00 to $16.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Truist Financial raised their target price on AdaptHealth from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada reduced their price target on AdaptHealth from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Thursday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $13.60.

AdaptHealth Trading Up 4.8%

Shares of NASDAQ AHCO traded up $0.42 during midday trading on Monday, hitting $9.00. 278,899 shares of the company traded hands, compared to its average volume of 1,271,247. AdaptHealth Corp. has a 12-month low of $7.11 and a 12-month high of $11.90. The firm has a market cap of $1.21 billion, a P/E ratio of -5.43, a P/E/G ratio of 1.08 and a beta of 1.64. The stock has a 50-day moving average price of $9.29 and a 200 day moving average price of $9.73. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.00 and a current ratio of 1.24.

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.