Royal Bank of Canada Lowers AdaptHealth (NASDAQ:AHCO) Price Target to $11.00

AdaptHealth (NASDAQ:AHCOGet Free Report) had its target price cut by Royal Bank of Canada from $13.00 to $11.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 13.17% from the stock’s previous close.

AHCO has been the topic of a number of other reports. Robert W. Baird lowered their target price on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Canaccord Genuity Group lowered their target price on AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. UBS Group lowered their target price on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, 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. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.67.

Check Out Our Latest Stock Report on AdaptHealth

AdaptHealth Price Performance

Shares of AHCO opened at $9.72 on Tuesday. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -5.89, a price-to-earnings-growth ratio of 1.34 and a beta of 1.11. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.00 and a current ratio of 1.24. AdaptHealth has a one year low of $6.43 and a one year high of $11.90. The stock’s fifty day moving average is $10.53 and its 200-day moving average is $10.45.

AdaptHealth (NASDAQ:AHCOGet Free Report) 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). The business had revenue of $805.90 million for the quarter, compared to analyst estimates of $809.32 million. AdaptHealth had a negative net margin of 6.57% and a positive return on equity of 9.62%. AdaptHealth’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the business posted $0.19 earnings per share. Equities analysts anticipate 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 firm’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 completion of the sale, the chief operating officer now directly owns 212,611 shares in the company, valued at approximately $2,389,747.64. This trade represents a 10.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David Solomon Williams III sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was 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. The trade was a 9.78 % 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 Investors Weigh In On AdaptHealth

Institutional investors have recently made changes to their positions in the company. Covestor Ltd lifted its holdings 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 during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of AdaptHealth during the 2nd quarter valued at about $58,000. Quarry LP lifted its holdings in shares of AdaptHealth by 4,596.9% during the 3rd quarter. Quarry LP now owns 5,965 shares of the company’s stock valued at $67,000 after buying an additional 5,838 shares during the last quarter. Blue Trust Inc. acquired a new stake in shares of AdaptHealth during the 2nd quarter valued at about $85,000. Finally, Innealta Capital LLC acquired a new stake in shares of AdaptHealth during the 2nd quarter valued at about $101,000. 82.67% of the stock is currently owned by institutional investors and hedge funds.

AdaptHealth Company Profile

(Get Free Report)

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.

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Analyst Recommendations for AdaptHealth (NASDAQ:AHCO)

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