Swiss National Bank Reduces Position in AdaptHealth Corp. $AHCO

Swiss National Bank cut its holdings in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,400 shares of the company’s stock after selling 2,500 shares during the period. Swiss National Bank owned approximately 0.13% of AdaptHealth worth $1,836,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in AdaptHealth by 175.2% in the first quarter. GAMMA Investing LLC now owns 7,473 shares of the company’s stock worth $81,000 after purchasing an additional 4,758 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in AdaptHealth in the first quarter worth about $114,000. Legato Capital Management LLC purchased a new position in AdaptHealth in the first quarter worth about $167,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in AdaptHealth by 25.3% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 15,871 shares of the company’s stock worth $172,000 after purchasing an additional 3,208 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its position 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. 82.67% of the stock is owned by hedge funds and other institutional investors.

AdaptHealth Stock Up 3.1%

NASDAQ AHCO opened at $9.61 on Friday. The stock’s 50-day moving average price is $9.22 and its 200-day moving average price is $9.24. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.14. AdaptHealth Corp. has a 52 week low of $7.11 and a 52 week high of $11.70. The company has a market capitalization of $1.30 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 1.07 and a beta of 1.58.

Insider Activity at AdaptHealth

In other news, Director David Solomon Williams III sold 8,200 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $9.73, for a total value of $79,786.00. Following the transaction, the director owned 50,045 shares of the company’s stock, valued at $486,937.85. This trade represents a 14.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

AHCO has been the topic of several research reports. Wall Street Zen raised AdaptHealth from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Royal Bank Of Canada dropped their target price on AdaptHealth from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Thursday, May 8th. Finally, Truist Financial dropped their target price on AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $13.40.

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.