Geode Capital Management LLC Buys 16,596 Shares of AdaptHealth Corp. (NASDAQ:AHCO)

Geode Capital Management LLC increased its stake in AdaptHealth Corp. (NASDAQ:AHCO) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,467,769 shares of the company’s stock after acquiring an additional 16,596 shares during the period. Geode Capital Management LLC’s holdings in AdaptHealth were worth $23,499,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. acquired a new position in AdaptHealth during the 4th quarter valued at about $28,000. Blue Trust Inc. boosted its position in shares of AdaptHealth by 24.1% in the 4th 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 grew its stake in shares of AdaptHealth by 15.4% during 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 period. KLP Kapitalforvaltning AS bought a new stake in AdaptHealth in the fourth quarter valued at about $169,000. Finally, Proficio Capital Partners LLC bought a new position in AdaptHealth during the fourth quarter worth about $181,000. 82.67% of the stock is owned by institutional investors and hedge funds.

AdaptHealth Price Performance

Shares of AHCO opened at $7.79 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. AdaptHealth Corp. has a twelve month low of $7.72 and a twelve month high of $11.90. The stock has a market capitalization of $1.05 billion, a P/E ratio of -4.72, a P/E/G ratio of 1.08 and a beta of 1.44. The company has a 50 day moving average of $9.70 and a 200-day moving average of $9.97.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AHCO shares. 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. Truist Financial lifted their price objective on AdaptHealth from $12.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Royal Bank of Canada increased their target price on AdaptHealth from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Canaccord Genuity Group lifted their price target on shares of AdaptHealth from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Finally, Robert W. Baird increased their price objective on shares of AdaptHealth from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, AdaptHealth currently has an average rating of “Buy” and an average target price of $13.80.

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.