AdaptHealth Corp. (NASDAQ:AHCO) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP lowered its stake in AdaptHealth Corp. (NASDAQ:AHCO) by 71.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,675 shares of the company’s stock after selling 29,067 shares during the period. Bridgewater Associates LP’s holdings in AdaptHealth were worth $111,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assetmark Inc. purchased a new position in AdaptHealth in the 4th quarter worth $28,000. Blue Trust Inc. increased its holdings in shares of AdaptHealth by 24.1% in the fourth quarter. Blue Trust Inc. now owns 5,746 shares of the company’s stock valued at $55,000 after purchasing an additional 1,115 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of AdaptHealth by 15.4% in 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 last quarter. Guggenheim Capital LLC lifted its holdings in shares of AdaptHealth by 10.1% during 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 period. Finally, KLP Kapitalforvaltning AS purchased a new stake in AdaptHealth in the fourth quarter valued at approximately $169,000. 82.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AHCO has been the subject of several research reports. UBS Group decreased their price objective on shares of AdaptHealth from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Robert W. Baird upped their price target on shares of AdaptHealth from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Canaccord Genuity Group lifted their price objective on AdaptHealth from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Royal Bank of Canada upped 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. Finally, Truist Financial lifted their price target on AdaptHealth from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $13.80.

AdaptHealth Stock Performance

NASDAQ AHCO opened at $7.79 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.00 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 50-day moving average of $9.70 and a 200 day moving average of $9.96. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -4.72, a PEG ratio of 1.08 and a beta of 1.44.

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.