Peregrine Capital Management LLC Decreases Holdings in AdaptHealth Corp. (NASDAQ:AHCO)

Peregrine Capital Management LLC lowered its position in AdaptHealth Corp. (NASDAQ:AHCO) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 585,205 shares of the company’s stock after selling 21,182 shares during the period. Peregrine Capital Management LLC’s holdings in AdaptHealth were worth $5,571,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AHCO. Blue Trust Inc. grew its holdings in AdaptHealth by 24.1% in the fourth quarter. Blue Trust Inc. now owns 5,746 shares of the company’s stock valued at $55,000 after purchasing an additional 1,115 shares during the last quarter. Quarry LP grew its stake in AdaptHealth by 4,596.9% in the 3rd quarter. Quarry LP now owns 5,965 shares of the company’s stock valued at $67,000 after acquiring an additional 5,838 shares during the last quarter. CIBC Asset Management Inc purchased a new position in AdaptHealth during the 3rd quarter valued at about $122,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in AdaptHealth by 15.4% during the fourth 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. Finally, LRI Investments LLC lifted its holdings in shares of AdaptHealth by 32.0% in the third quarter. LRI Investments LLC now owns 15,331 shares of the company’s stock valued at $172,000 after purchasing an additional 3,713 shares in the last quarter. 82.67% of the stock is owned by hedge funds and other institutional investors.

AdaptHealth Price Performance

Shares of NASDAQ:AHCO opened at $8.73 on Wednesday. The company has a market cap of $1.17 billion, a P/E ratio of -5.29, a P/E/G ratio of 1.23 and a beta of 1.12. The business has a fifty day simple moving average of $9.90 and a 200-day simple moving average of $10.22. AdaptHealth Corp. has a 52 week low of $7.01 and a 52 week high of $11.90. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 1.34.

Wall Street Analysts Forecast Growth

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

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.