Johnson Investment Counsel Inc. Grows Stake in AdaptHealth Corp. (NASDAQ:AHCO)

Johnson Investment Counsel Inc. raised its position in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 33.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,779 shares of the company’s stock after purchasing an additional 5,189 shares during the period. Johnson Investment Counsel Inc.’s holdings in AdaptHealth were worth $198,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of AdaptHealth during the fourth quarter valued at $197,000. Proficio Capital Partners LLC purchased a new position in AdaptHealth during the 4th quarter valued at about $181,000. Assetmark Inc. bought a new stake in shares of AdaptHealth in the 4th quarter valued at about $28,000. Victory Capital Management Inc. raised its holdings in shares of AdaptHealth by 50.2% in the 4th quarter. Victory Capital Management Inc. now owns 212,519 shares of the company’s stock valued at $2,023,000 after purchasing an additional 71,012 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of AdaptHealth by 10.4% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 30,716 shares of the company’s stock worth $292,000 after purchasing an additional 2,902 shares during the period. 82.67% of the stock is currently owned by hedge funds and other institutional investors.

AdaptHealth Stock Performance

Shares of AHCO opened at $9.60 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 1.34. The firm has a market cap of $1.29 billion, a PE ratio of -5.82, a P/E/G ratio of 1.08 and a beta of 1.30. AdaptHealth Corp. has a 12 month low of $8.35 and a 12 month high of $11.90. The stock has a fifty day moving average price of $10.02 and a 200-day moving average price of $10.23.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Truist Financial lifted their price objective on shares of AdaptHealth from $12.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. UBS Group cut their price target on AdaptHealth from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Robert W. Baird upped their price objective on AdaptHealth from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Canaccord Genuity Group raised their price objective on AdaptHealth from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada boosted their target price on shares of AdaptHealth from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, AdaptHealth presently has a consensus rating of “Buy” and a consensus 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.