Canaccord Genuity Group Has Lowered Expectations for AdaptHealth (NASDAQ:AHCO) Stock Price

AdaptHealth (NASDAQ:AHCO) had its target price reduced by equities researchers at Canaccord Genuity Group from $14.00 to $13.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 32.25% from the company’s current price.

Several other research analysts also recently weighed in on AHCO. Robert W. Baird dropped their target price on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $13.00 price target on shares of AdaptHealth in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, AdaptHealth presently has a consensus rating of “Moderate Buy” and an average target price of $11.36.

AdaptHealth Stock Down 3.4 %

NASDAQ:AHCO opened at $9.83 on Wednesday. The company’s 50-day simple moving average is $10.74 and its 200-day simple moving average is $10.44. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.15. AdaptHealth has a fifty-two week low of $6.37 and a fifty-two week high of $11.90. The stock has a market capitalization of $1.32 billion, a P/E ratio of -1.88, a P/E/G ratio of 1.58 and a beta of 1.11.

AdaptHealth (NASDAQ:AHCO) last announced its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.02). AdaptHealth had a negative net margin of 21.20% and a positive return on equity of 9.58%. The firm had revenue of $805.90 million during the quarter, compared to analyst estimates of $809.32 million. During the same quarter last year, the business earned $0.19 earnings per share. AdaptHealth’s revenue was up .2% on a year-over-year basis. On average, equities analysts anticipate that AdaptHealth will post 0.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AdaptHealth news, COO Shaw Rietkerk sold 25,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.24, for a total transaction of $281,000.00. Following the sale, the chief operating officer now owns 212,611 shares in the company, valued at approximately $2,389,747.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director David Solomon Williams III sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $11.26, for a total value of $45,040.00. Following the transaction, the director now owns 36,899 shares in the company, valued at approximately $415,482.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Shaw Rietkerk sold 25,000 shares of AdaptHealth stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.24, for a total transaction of $281,000.00. Following the sale, the chief operating officer now owns 212,611 shares of the company’s stock, valued at approximately $2,389,747.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.43% of the stock is currently owned by company insiders.

Institutional Trading of AdaptHealth

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC boosted its holdings in AdaptHealth by 80.1% in the first quarter. Janney Montgomery Scott LLC now owns 27,949 shares of the company’s stock valued at $322,000 after purchasing an additional 12,430 shares during the last quarter. Texas Permanent School Fund Corp boosted its position in AdaptHealth by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 71,201 shares of the company’s stock worth $820,000 after purchasing an additional 979 shares in the last quarter. Empowered Funds LLC grew its stake in shares of AdaptHealth by 8.2% during the 1st quarter. Empowered Funds LLC now owns 502,762 shares of the company’s stock worth $5,787,000 after purchasing an additional 38,084 shares during the period. SG Americas Securities LLC purchased a new stake in AdaptHealth during the first quarter worth $129,000. Finally, Sei Investments Co. acquired a new stake in AdaptHealth during the first quarter valued at $2,365,000. Institutional investors and hedge funds own 82.67% of the company’s stock.

About AdaptHealth

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.