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

Truist Financial Corp lowered its holdings in AdaptHealth Corp. (NASDAQ:AHCO) by 84.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 329,093 shares of the company’s stock after selling 1,838,641 shares during the period. Truist Financial Corp owned approximately 0.24% of AdaptHealth worth $3,133,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its position in AdaptHealth by 24.1% during the 4th quarter. Blue Trust Inc. now owns 5,746 shares of the company’s stock worth $55,000 after acquiring an additional 1,115 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in AdaptHealth by 15.4% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,663 shares of the company’s stock worth $121,000 after acquiring an additional 1,690 shares during the last quarter. Rhumbline Advisers grew its position in AdaptHealth by 0.5% during the 4th quarter. Rhumbline Advisers now owns 313,110 shares of the company’s stock worth $2,981,000 after acquiring an additional 1,691 shares during the last quarter. Mutual of America Capital Management LLC grew its position in AdaptHealth by 23.8% during the 3rd quarter. Mutual of America Capital Management LLC now owns 15,893 shares of the company’s stock worth $178,000 after acquiring an additional 3,052 shares during the last quarter. Finally, LRI Investments LLC grew its position in AdaptHealth by 32.0% during the 3rd quarter. LRI Investments LLC now owns 15,331 shares of the company’s stock worth $172,000 after acquiring an additional 3,713 shares during the last quarter. Hedge funds and other institutional investors own 82.67% of the company’s stock.

Analyst Upgrades and Downgrades

AHCO has been the topic of a number of recent analyst reports. Royal Bank of Canada cut their price objective on AdaptHealth from $13.00 to $11.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. Canaccord Genuity Group cut their price objective on AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. UBS Group cut their price objective on AdaptHealth from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Truist Financial cut their price objective on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, Robert W. Baird dropped their price target on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $12.20.

AdaptHealth Stock Up 24.4 %

Shares of NASDAQ:AHCO opened at $10.64 on Wednesday. The stock has a fifty day simple moving average of $9.84 and a two-hundred day simple moving average of $10.20. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -6.45, a PEG ratio of 1.08 and a beta of 1.12. AdaptHealth Corp. has a 12-month low of $7.25 and a 12-month high of $11.90. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 1.34.

AdaptHealth Profile

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.