Truist Financial Lowers AdaptHealth (NASDAQ:AHCO) Price Target to $12.00

AdaptHealth (NASDAQ:AHCO) had its target price reduced by investment analysts at Truist Financial from $13.00 to $12.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 24.48% from the company’s current price.

Several other research firms have also recently issued reports on AHCO. Canaccord Genuity Group cut their target price on AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price target on shares of AdaptHealth in a research note on Monday, August 12th. UBS Group decreased their price objective on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Robert W. Baird cut their target price on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.00.

AdaptHealth Stock Down 4.0 %

AHCO opened at $9.64 on Friday. AdaptHealth has a 12 month low of $6.43 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. The business’s 50-day moving average price is $10.61 and its 200-day moving average price is $10.46. The company has a market cap of $1.30 billion, a P/E ratio of -5.84, a P/E/G ratio of 1.47 and a beta of 1.11.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). AdaptHealth had a negative net margin of 6.57% and a positive return on equity of 9.62%. The company had revenue of $805.90 million for the quarter, compared to analysts’ expectations of $809.32 million. During the same period last year, the company posted $0.19 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts expect that AdaptHealth will post 0.89 EPS for the current year.

Insider Buying and Selling

In other AdaptHealth news, COO Shaw Rietkerk sold 25,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 212,611 shares in the company, valued at approximately $2,389,747.64. The trade was a 10.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Solomon Williams III sold 4,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $11.26, for a total value of $45,040.00. Following the completion of the transaction, the director now directly owns 36,899 shares in the company, valued at approximately $415,482.74. This represents a 9.78 % decrease in their position. The disclosure for this sale can be found here. 4.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On AdaptHealth

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Covestor Ltd lifted its position in shares of AdaptHealth by 279.6% during the 1st quarter. Covestor Ltd now owns 3,109 shares of the company’s stock valued at $36,000 after buying an additional 2,290 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of AdaptHealth during the 2nd quarter valued at $58,000. Quarry LP boosted its holdings in AdaptHealth by 4,596.9% in the 3rd quarter. Quarry LP now owns 5,965 shares of the company’s stock worth $67,000 after buying an additional 5,838 shares during the period. Blue Trust Inc. purchased a new stake in AdaptHealth in the 2nd quarter worth $85,000. Finally, Innealta Capital LLC bought a new stake in AdaptHealth during the second quarter valued at about $101,000. 82.67% of the stock is currently 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.