Robert W. Baird Issues Pessimistic Forecast for AdaptHealth (NASDAQ:AHCO) Stock Price

AdaptHealth (NASDAQ:AHCO) had its price objective reduced by research analysts at Robert W. Baird from $16.00 to $14.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 42.42% from the company’s previous close.

Separately, Royal Bank of Canada restated an “outperform” rating and set a $13.00 price target on shares of AdaptHealth in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.36.

AdaptHealth Price Performance

AHCO opened at $9.83 on Wednesday. The stock has a 50-day moving average price of $10.74 and a 200-day moving average price of $10.44. The stock has a market capitalization of $1.32 billion, a P/E ratio of -1.88, a PEG ratio of 1.58 and a beta of 1.11. AdaptHealth has a 12-month low of $6.37 and a 12-month high of $11.90. The company has a current ratio of 1.15, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38.

AdaptHealth (NASDAQ:AHCO) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $805.90 million for the quarter, compared to the consensus estimate of $809.32 million. During the same quarter in the previous year, the business earned $0.19 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. Equities analysts predict that AdaptHealth will post 0.87 earnings per share for the current fiscal year.

Insider Buying and Selling at AdaptHealth

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

Hedge Funds Weigh In On AdaptHealth

Hedge funds have recently made changes to their positions in the business. Covestor Ltd boosted its holdings in AdaptHealth by 279.6% in the first quarter. Covestor Ltd now owns 3,109 shares of the company’s stock valued at $36,000 after acquiring an additional 2,290 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of AdaptHealth during the 2nd quarter valued at about $58,000. Blue Trust Inc. bought a new stake in shares of AdaptHealth during the 2nd quarter valued at about $85,000. Innealta Capital LLC bought a new position in AdaptHealth in the second quarter worth about $101,000. Finally, Quest Partners LLC boosted its position in AdaptHealth by 11,522.7% during the 2nd quarter. Quest Partners LLC now owns 10,228 shares of the company’s stock valued at $102,000 after acquiring an additional 10,140 shares in the last quarter. 82.67% of the stock is owned by hedge funds and other institutional investors.

AdaptHealth Company 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.