Bank of New York Mellon Corp Sells 18,960 Shares of AdaptHealth Corp. (NASDAQ:AHCO)

Bank of New York Mellon Corp decreased its holdings in AdaptHealth Corp. (NASDAQ:AHCO) by 2.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 740,342 shares of the company’s stock after selling 18,960 shares during the period. Bank of New York Mellon Corp owned about 0.55% of AdaptHealth worth $8,025,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AHCO. Palisade Capital Management LP boosted its holdings in shares of AdaptHealth by 12.3% during the 1st quarter. Palisade Capital Management LP now owns 2,711,142 shares of the company’s stock valued at $29,389,000 after acquiring an additional 297,268 shares in the last quarter. New York State Teachers Retirement System raised its position in AdaptHealth by 3.3% during the 1st quarter. New York State Teachers Retirement System now owns 80,455 shares of the company’s stock worth $872,000 after purchasing an additional 2,600 shares during the last quarter. Illinois Municipal Retirement Fund raised its position in AdaptHealth by 9.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 63,728 shares of the company’s stock worth $691,000 after purchasing an additional 5,313 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in AdaptHealth by 6.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 32,797 shares of the company’s stock worth $356,000 after purchasing an additional 2,081 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in AdaptHealth during the 1st quarter worth $854,000. Institutional investors own 82.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Royal Bank Of Canada reduced their target price on AdaptHealth from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Truist Financial cut 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, According to MarketBeat.com, AdaptHealth currently has a consensus rating of “Buy” and an average price target of $13.40.

AdaptHealth Stock Up 3.6%

Shares of NASDAQ:AHCO opened at $9.48 on Wednesday. AdaptHealth Corp. has a 52-week low of $7.11 and a 52-week high of $11.90. The firm has a fifty day moving average of $8.99 and a 200 day moving average of $9.39. The firm has a market capitalization of $1.28 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 0.88 and a beta of 1.63. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.07 and a current ratio of 1.29.

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.