Empowered Funds LLC Raises Holdings in AdaptHealth Corp. (NASDAQ:AHCO)

Empowered Funds LLC boosted its holdings in shares of AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 25.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 713,643 shares of the company's stock after buying an additional 142,743 shares during the period. Empowered Funds LLC owned approximately 0.53% of AdaptHealth worth $6,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its stake in AdaptHealth by 8.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,440 shares of the company's stock valued at $394,000 after purchasing an additional 2,959 shares during the last quarter. SG Americas Securities LLC grew its stake in AdaptHealth by 365.4% during the 3rd quarter. SG Americas Securities LLC now owns 52,595 shares of the company's stock valued at $591,000 after purchasing an additional 41,294 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in AdaptHealth by 30.0% during the 3rd quarter. Louisiana State Employees Retirement System now owns 51,100 shares of the company's stock valued at $574,000 after purchasing an additional 11,800 shares during the last quarter. State of Alaska Department of Revenue grew its stake in AdaptHealth by 31.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 60,304 shares of the company's stock valued at $677,000 after purchasing an additional 14,438 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in AdaptHealth by 142.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 449,840 shares of the company's stock valued at $5,052,000 after purchasing an additional 264,610 shares during the last quarter. 82.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AHCO. Royal Bank of Canada dropped their price target on AdaptHealth from $13.00 to $11.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 19th. Robert W. Baird lowered their target price on AdaptHealth from $16.00 to $14.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. UBS Group lowered their target price on AdaptHealth from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday. Canaccord Genuity Group lowered their target price on AdaptHealth from $14.00 to $13.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Finally, Truist Financial lowered their target price on AdaptHealth from $13.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, November 15th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AdaptHealth has a consensus rating of "Buy" and an average price target of $12.20.

AdaptHealth Price Performance

AHCO stock traded down $0.15 during mid-day trading on Friday, reaching $8.78. 721,079 shares of the company's stock were exchanged, compared to its average volume of 907,529. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -5.32, a price-to-earnings-growth ratio of 1.23 and a beta of 1.12. The stock's 50 day moving average is $9.95 and its 200 day moving average is $10.28. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.00. AdaptHealth Corp. has a 12-month low of $7.01 and a 12-month high of $11.90.

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.