Brokerages Set AdaptHealth Corp. (NASDAQ:AHCO) Price Target at $11.67

AdaptHealth Corp. (NASDAQ:AHCO) has been given an average rating of “Moderate Buy” by the six brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $11.67.

Several analysts have recently weighed in on AHCO shares. Royal Bank of Canada reduced their target price on AdaptHealth from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Truist Financial dropped their target price on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Canaccord Genuity Group lowered their price target on AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Robert W. Baird lowered their price target on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, UBS Group reduced their target price on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th.

AdaptHealth Stock Performance

NASDAQ AHCO opened at $9.58 on Friday. AdaptHealth has a 1-year low of $6.43 and a 1-year high of $11.90. The company has a market cap of $1.29 billion, a PE ratio of -5.81, a price-to-earnings-growth ratio of 1.41 and a beta of 1.10. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.00. The stock’s 50 day simple moving average is $10.32 and its 200-day simple moving average is $10.46.

AdaptHealth (NASDAQ:AHCO) last issued 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 firm had revenue of $805.90 million during the quarter, compared to analyst estimates of $809.32 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, equities research analysts anticipate that AdaptHealth will post 0.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other AdaptHealth news, COO Shaw Rietkerk sold 25,000 shares of the company’s stock in a transaction dated 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 $2,389,747.64. This represents a 10.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.43% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Cornercap Investment Counsel Inc. boosted its stake in AdaptHealth by 2.8% in the second quarter. Cornercap Investment Counsel Inc. now owns 46,706 shares of the company’s stock valued at $467,000 after acquiring an additional 1,254 shares during the last quarter. SummerHaven Investment Management LLC grew its position in shares of AdaptHealth by 2.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 57,645 shares of the company’s stock valued at $576,000 after acquiring an additional 1,503 shares during the period. Public Sector Pension Investment Board boosted its holdings in shares of AdaptHealth by 1.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 171,877 shares of the company’s stock worth $1,719,000 after buying an additional 2,060 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of AdaptHealth by 8.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,440 shares of the company’s stock worth $394,000 after buying an additional 2,959 shares during the period. Finally, Mutual of America Capital Management LLC boosted its holdings in shares of AdaptHealth by 23.8% during the 3rd quarter. Mutual of America Capital Management LLC now owns 15,893 shares of the company’s stock worth $178,000 after buying an additional 3,052 shares during the period. Institutional investors and hedge funds own 82.67% of the company’s stock.

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.