Truist Financial Corp Decreases Position in AdaptHealth Corp. (NASDAQ:AHCO)

Truist Financial Corp decreased its position in shares of AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 84.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 329,093 shares of the company's stock after selling 1,838,641 shares during the period. Truist Financial Corp owned 0.24% of AdaptHealth worth $3,133,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. acquired a new position in AdaptHealth during the fourth quarter worth approximately $76,271,000. FMR LLC increased its holdings in shares of AdaptHealth by 9.3% in the third 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 during the period. Reinhart Partners LLC. increased its holdings in shares of AdaptHealth by 1.1% in the fourth quarter. Reinhart Partners LLC. now owns 6,266,854 shares of the company's stock valued at $59,660,000 after purchasing an additional 68,212 shares during the period. State Street Corp increased its holdings in shares of AdaptHealth by 19.8% in the third quarter. State Street Corp now owns 4,124,284 shares of the company's stock valued at $46,316,000 after purchasing an additional 681,816 shares during the period. Finally, Segall Bryant & Hamill LLC increased its holdings in shares of AdaptHealth by 15.5% in the third quarter. Segall Bryant & Hamill LLC now owns 3,701,808 shares of the company's stock valued at $41,571,000 after purchasing an additional 496,453 shares during the period. Institutional investors and hedge funds own 82.67% of the company's stock.

AdaptHealth Price Performance

Shares of AdaptHealth stock traded up $0.29 during trading on Friday, reaching $11.38. The company's stock had a trading volume of 1,758,793 shares, compared to its average volume of 1,099,020. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. AdaptHealth Corp. has a 12-month low of $8.35 and a 12-month high of $11.90. The company has a market capitalization 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. The business has a 50 day moving average price of $9.92 and a 200-day moving average price of $10.23.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AHCO shares. UBS Group dropped their target price 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 boosted their target price on AdaptHealth from $14.00 to $16.00 and gave the company an "outperform" rating in a report on Thursday. Truist Financial boosted their target price on AdaptHealth from $12.00 to $14.00 and gave the company a "buy" rating in a 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. Finally, Canaccord Genuity Group lifted their price target on AdaptHealth from $13.00 to $14.00 and gave the company a "buy" rating in a research note on Wednesday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average 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.