New Age Alpha Advisors LLC Makes New $2.50 Million Investment in AdaptHealth Corp. (NASDAQ:AHCO)

New Age Alpha Advisors LLC purchased a new stake in shares of AdaptHealth Corp. (NASDAQ:AHCO) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 230,950 shares of the company’s stock, valued at approximately $2,503,000.

Other large investors have also recently modified their holdings of the company. Reinhart Partners LLC. grew its position in AdaptHealth by 15.5% during the 1st quarter. Reinhart Partners LLC. now owns 7,236,262 shares of the company’s stock valued at $78,441,000 after purchasing an additional 969,408 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of AdaptHealth by 17.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,379,715 shares of the company’s stock valued at $32,174,000 after buying an additional 505,180 shares during the last quarter. Palisade Capital Management LP increased its position in shares of AdaptHealth by 12.3% during the first 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. Geode Capital Management LLC raised its holdings in AdaptHealth by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,467,769 shares of the company’s stock worth $23,499,000 after acquiring an additional 16,596 shares during the last quarter. Finally, Kennedy Capital Management LLC raised its holdings in AdaptHealth by 6.0% in the 4th quarter. Kennedy Capital Management LLC now owns 1,767,310 shares of the company’s stock worth $16,825,000 after acquiring an additional 99,326 shares during the last quarter. Hedge funds and other institutional investors own 82.67% of the company’s stock.

Analyst Ratings Changes

AHCO has been the subject of a number of research analyst reports. 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 report on Thursday, May 8th. Truist Financial dropped their price objective 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 equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $13.40.

AdaptHealth Trading Down 2.6%

Shares of AHCO stock opened at $9.85 on Thursday. The company has a current ratio of 1.06, a quick ratio of 1.07 and a debt-to-equity ratio of 1.14. AdaptHealth Corp. has a 12-month low of $7.11 and a 12-month high of $11.70. The stock has a market capitalization of $1.33 billion, a P/E ratio of 18.24, a P/E/G ratio of 0.97 and a beta of 1.58. The firm’s 50 day moving average is $9.08 and its 200 day moving average is $9.34.

AdaptHealth 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.