New York State Common Retirement Fund Boosts Stake in AdaptHealth Corp. (NASDAQ:AHCO)

New York State Common Retirement Fund increased its position in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 25.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 758,562 shares of the company's stock after purchasing an additional 151,638 shares during the period. New York State Common Retirement Fund owned 0.56% of AdaptHealth worth $7,222,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AHCO. Principal Financial Group Inc. lifted its stake in AdaptHealth by 204.0% in the fourth quarter. Principal Financial Group Inc. now owns 1,652,765 shares of the company's stock valued at $15,735,000 after buying an additional 1,109,021 shares during the last quarter. Rhumbline Advisers raised its position in AdaptHealth by 0.5% in the 4th quarter. Rhumbline Advisers now owns 313,110 shares of the company's stock valued at $2,981,000 after purchasing an additional 1,691 shares during the last quarter. Empowered Funds LLC boosted its stake in AdaptHealth by 25.0% during the 4th quarter. Empowered Funds LLC now owns 713,643 shares of the company's stock worth $6,794,000 after purchasing an additional 142,743 shares during the period. Pacer Advisors Inc. purchased a new position in AdaptHealth during the 4th quarter worth $76,271,000. Finally, Blue Trust Inc. increased its stake in 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. 82.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AHCO shares. Canaccord Genuity Group increased their target price on shares of AdaptHealth from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Wednesday. Truist Financial increased their price objective on AdaptHealth from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Wednesday. Royal Bank of Canada boosted their target price on AdaptHealth from $11.00 to $14.00 and gave the company an "outperform" rating in a report on Wednesday. Robert W. Baird increased their price target on AdaptHealth from $14.00 to $16.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, UBS Group dropped their price objective on shares of AdaptHealth from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, AdaptHealth presently has an average rating of "Buy" and an average price target of $13.80.

AdaptHealth Stock Performance

Shares of AHCO stock traded up $0.29 during trading hours on Friday, reaching $11.38. 1,758,793 shares of the company's stock were exchanged, compared to its average volume of 1,097,015. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.00. The company's 50 day moving average is $9.92 and its two-hundred day moving average is $10.23. The company has a market cap of $1.53 billion, a P/E ratio of -6.90, a price-to-earnings-growth ratio of 1.08 and a beta of 1.12. AdaptHealth Corp. has a 1 year low of $8.35 and a 1 year 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.