Bessemer Group Inc. Buys 156,095 Shares of AdaptHealth Corp. $AHCO

Bessemer Group Inc. lifted its stake in AdaptHealth Corp. (NASDAQ:AHCO) by 47.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 482,937 shares of the company’s stock after buying an additional 156,095 shares during the period. Bessemer Group Inc.’s holdings in AdaptHealth were worth $5,746,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its holdings in AdaptHealth by 22.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock valued at $70,000 after acquiring an additional 1,279 shares during the period. MetLife Investment Management LLC increased its stake in AdaptHealth by 3.1% in the 4th quarter. MetLife Investment Management LLC now owns 57,364 shares of the company’s stock worth $571,000 after purchasing an additional 1,749 shares during the period. Corient Private Wealth LLC increased its stake in AdaptHealth by 8.6% in the 4th quarter. Corient Private Wealth LLC now owns 22,562 shares of the company’s stock worth $227,000 after purchasing an additional 1,794 shares during the period. Rockefeller Capital Management L.P. lifted its position in AdaptHealth by 433.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company’s stock valued at $26,000 after purchasing an additional 2,100 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in AdaptHealth by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,495 shares of the company’s stock valued at $656,000 after purchasing an additional 2,564 shares during the last quarter. Institutional investors own 82.67% of the company’s stock.

AdaptHealth Trading Up 0.2%

AHCO opened at $10.98 on Tuesday. AdaptHealth Corp. has a one year low of $8.51 and a one year high of $13.43. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.92 and a quick ratio of 0.71. The business has a 50 day simple moving average of $10.25 and a two-hundred day simple moving average of $10.63. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -17.71, a PEG ratio of 0.56 and a beta of 1.45.

Analysts Set New Price Targets

AHCO has been the subject of a number of analyst reports. Wall Street Zen raised AdaptHealth from a “hold” rating to a “buy” rating in a research note on Sunday, June 14th. Royal Bank Of Canada lifted their target price on shares of AdaptHealth from $13.00 to $15.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Robert W. Baird lowered their price target on shares of AdaptHealth from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Monday, July 6th. Weiss Ratings reissued a “sell (d)” rating on shares of AdaptHealth in a research report on Friday, May 22nd. Finally, Truist Financial raised their price target on shares of AdaptHealth from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, AdaptHealth presently has an average rating of “Moderate Buy” and a consensus target price of $13.86.

Insider Activity

In related news, insider Russell E. Schuster III sold 11,275 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $10.06, for a total transaction of $113,426.50. Following the completion of the transaction, the insider owned 136,538 shares in the company, valued at $1,373,572.28. This represents a 7.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.95% 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.