Ameriprise Financial Inc. Buys 65,606 Shares of AdaptHealth Corp. (NASDAQ:AHCO)

Ameriprise Financial Inc. increased its stake in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 11.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 627,998 shares of the company’s stock after purchasing an additional 65,606 shares during the quarter. Ameriprise Financial Inc. owned 0.47% of AdaptHealth worth $5,979,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Assetmark Inc. bought a new stake in shares of AdaptHealth in the 4th quarter worth about $28,000. Blue Trust Inc. lifted its stake in AdaptHealth by 24.1% in the fourth quarter. Blue Trust Inc. now owns 5,746 shares of the company’s stock worth $55,000 after purchasing an additional 1,115 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in AdaptHealth by 15.4% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,663 shares of the company’s stock worth $121,000 after purchasing an additional 1,690 shares during the last quarter. Guggenheim Capital LLC lifted its stake in AdaptHealth by 10.1% in 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 during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in AdaptHealth in the fourth quarter worth about $169,000. Institutional investors own 82.67% of the company’s stock.

AdaptHealth Trading Down 1.8%

Shares of AHCO opened at $8.78 on Friday. AdaptHealth Corp. has a 1-year low of $7.11 and a 1-year high of $11.90. The company has a 50-day moving average of $9.08 and a 200 day moving average of $9.64. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -5.32, a PEG ratio of 1.08 and a beta of 1.64. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.00.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. UBS Group decreased their price objective on shares of AdaptHealth from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Canaccord Genuity Group raised their price objective on shares of AdaptHealth from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. 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. Robert W. Baird lifted their price objective on shares of AdaptHealth from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Finally, Royal Bank of Canada decreased their price objective 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, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $13.40.

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.