Fifth Third Bancorp Acquires 98,178 Shares of AdaptHealth Corp. $AHCO

Fifth Third Bancorp raised its holdings in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 70,127.1% in the first quarter, Holdings Channel reports. The institutional investor owned 98,318 shares of the company’s stock after acquiring an additional 98,178 shares during the period. Fifth Third Bancorp’s holdings in AdaptHealth were worth $1,170,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in AHCO. Rockefeller Capital Management L.P. grew its position in shares of AdaptHealth by 433.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company’s stock valued at $26,000 after acquiring an additional 2,100 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of AdaptHealth by 22.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock worth $70,000 after purchasing an additional 1,279 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of AdaptHealth by 318.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock worth $90,000 after purchasing an additional 7,297 shares in the last quarter. Tidal Investments LLC bought a new position in AdaptHealth in the 2nd quarter worth $96,000. Finally, CIBC Bancorp USA Inc. bought a new position in AdaptHealth in the 3rd quarter worth $97,000. 82.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Russell E. Schuster III sold 11,275 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $10.06, for a total value of $113,426.50. Following the completion of the transaction, the insider owned 136,538 shares of the company’s stock, valued at approximately $1,373,572.28. This represents a 7.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of AdaptHealth in a research report on Friday, May 22nd. Wall Street Zen upgraded AdaptHealth from a “hold” rating to a “buy” rating in a research report on Sunday, June 14th. Robert W. Baird decreased their price objective on AdaptHealth from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Monday, July 6th. Jefferies Financial Group raised AdaptHealth from a “hold” rating to a “buy” rating and lifted their price objective for the company from $11.00 to $13.00 in a research report on Tuesday, July 21st. Finally, Canaccord Genuity Group lifted their price objective on AdaptHealth from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $14.14.

AdaptHealth Stock Up 2.8%

Shares of AHCO stock opened at $10.76 on Friday. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of -17.35, a PEG ratio of 0.55 and a beta of 1.45. AdaptHealth Corp. has a one year low of $8.51 and a one year high of $13.43. The company’s fifty day moving average price is $10.24 and its 200-day moving average price is $10.65. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.92 and a quick ratio of 0.71.

AdaptHealth Company 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.