Intech Investment Management LLC Grows Stake in AdaptHealth Corp. (NASDAQ:AHCO)

Intech Investment Management LLC grew its position in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 100.2% in the fourth quarter, Holdings Channel reports. The firm owned 119,417 shares of the company’s stock after purchasing an additional 59,767 shares during the period. Intech Investment Management LLC’s holdings in AdaptHealth were worth $1,137,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. purchased a new position in shares of AdaptHealth during the 4th quarter valued at $76,271,000. FMR LLC grew its position in shares of AdaptHealth by 9.3% during the 3rd quarter. FMR LLC now owns 7,350,549 shares of the company’s stock valued at $82,547,000 after purchasing an additional 624,645 shares in the last quarter. Reinhart Partners LLC. grew its position in AdaptHealth by 1.1% in the fourth quarter. Reinhart Partners LLC. now owns 6,266,854 shares of the company’s stock worth $59,660,000 after acquiring an additional 68,212 shares in the last quarter. State Street Corp grew its position in AdaptHealth by 19.8% in the third quarter. State Street Corp now owns 4,124,284 shares of the company’s stock worth $46,316,000 after acquiring an additional 681,816 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in AdaptHealth by 12.2% in the third quarter. Geode Capital Management LLC now owns 2,451,173 shares of the company’s stock worth $27,532,000 after acquiring an additional 265,712 shares in the last quarter. 82.67% of the stock is currently owned by hedge funds and other institutional investors.

AdaptHealth Stock Performance

AdaptHealth stock opened at $9.99 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. The company has a market capitalization of $1.35 billion, a PE ratio of -6.05, a P/E/G ratio of 1.08 and a beta of 1.30. The firm has a fifty day simple moving average of $10.01 and a two-hundred day simple moving average of $10.19. AdaptHealth Corp. has a twelve month low of $8.35 and a twelve month high of $11.90.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Canaccord Genuity Group upped their target price on shares of AdaptHealth from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Robert W. Baird upped their target price 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. Truist Financial upped their target price on shares of AdaptHealth from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. UBS Group cut their target price on shares of AdaptHealth from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Royal Bank of Canada upped their target price on shares of AdaptHealth from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $13.80.

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.