Bastion Asset Management Inc. Purchases New Shares in AdaptHealth Corp. $AHCO

Bastion Asset Management Inc. acquired a new position in shares of AdaptHealth Corp. (NASDAQ:AHCO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 451,159 shares of the company’s stock, valued at approximately $4,199,000. AdaptHealth comprises about 2.4% of Bastion Asset Management Inc.’s portfolio, making the stock its 16th biggest position. Bastion Asset Management Inc. owned approximately 0.33% of AdaptHealth as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AHCO. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of AdaptHealth by 6.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,095 shares of the company’s stock worth $256,000 after purchasing an additional 1,671 shares in the last quarter. CWM LLC raised its position in AdaptHealth by 17.5% in the 3rd quarter. CWM LLC now owns 12,306 shares of the company’s stock worth $110,000 after purchasing an additional 1,835 shares during the last quarter. Arizona State Retirement System lifted its holdings in AdaptHealth by 9.3% during the 3rd quarter. Arizona State Retirement System now owns 27,937 shares of the company’s stock worth $250,000 after buying an additional 2,367 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in AdaptHealth by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,495 shares of the company’s stock worth $656,000 after buying an additional 2,564 shares in the last quarter. Finally, Assetmark Inc. boosted its position in AdaptHealth by 87.6% in the 2nd quarter. Assetmark Inc. now owns 5,529 shares of the company’s stock valued at $52,000 after buying an additional 2,581 shares during the last quarter. Institutional investors and hedge funds own 82.67% of the company’s stock.

AdaptHealth Price Performance

AdaptHealth stock opened at $10.20 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.86 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $1.38 billion, a P/E ratio of 18.55, a PEG ratio of 1.16 and a beta of 1.72. The business has a 50-day moving average of $10.24 and a 200-day moving average of $9.63. AdaptHealth Corp. has a 1 year low of $7.11 and a 1 year high of $11.63.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Zacks Research upgraded AdaptHealth from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Wall Street Zen downgraded shares of AdaptHealth from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Canaccord Genuity Group raised their target price on shares of AdaptHealth from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings raised shares of AdaptHealth from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, January 30th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, AdaptHealth has an average rating of “Moderate Buy” and an average price target of $14.25.

Insider Transactions at AdaptHealth

In other news, Director David Solomon Williams III sold 5,000 shares of AdaptHealth stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $9.43, for a total transaction of $47,150.00. Following the transaction, the director directly owned 45,045 shares of the company’s stock, valued at $424,774.35. This trade represents a 9.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.55% of the company’s stock.

AdaptHealth Profile

AdaptHealth, Inc operates as a leading provider of home medical equipment (HME) and related services in the United States. The company focuses on delivering respiratory care, mobility solutions and bathroom safety products to patients with chronic and acute medical needs. Through its comprehensive service offerings, AdaptHealth aims to enhance quality of life and clinical outcomes for patients who require long-term support outside of a hospital setting.

The company’s respiratory portfolio includes products such as continuous positive airway pressure (CPAP) devices, oxygen concentrators, ventilators, and associated supplies for patients with sleep apnea, COPD and other pulmonary conditions.