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

AdaptHealth (NASDAQ:AHCO) had its price objective reduced by Royal Bank of Canada from $13.00 to $11.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Robert W. Baird reduced their price target on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Truist Financial decreased their target price on AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, November 15th. UBS Group dropped their price target on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, Canaccord Genuity Group decreased their price objective on shares of AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a report 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.67.

AdaptHealth Price Performance

AHCO stock opened at $9.74 on Tuesday. The stock’s 50 day moving average is $10.56 and its two-hundred day moving average is $10.45. AdaptHealth has a 52-week low of $6.43 and a 52-week high of $11.90. The company has a market capitalization of $1.31 billion, a PE ratio of -5.90, a P/E/G ratio of 1.34 and a beta of 1.11. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 1.34.

AdaptHealth (NASDAQ:AHCO) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The company had revenue of $805.90 million during the quarter, compared to the consensus estimate of $809.32 million. During the same quarter last year, the firm posted $0.19 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. Analysts predict that AdaptHealth will post 0.89 earnings per share for the current fiscal year.

Insider Activity at AdaptHealth

In related news, COO Shaw Rietkerk sold 25,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $11.24, for a total value of $281,000.00. Following the completion of the transaction, the chief operating officer now directly owns 212,611 shares of the company’s stock, valued at $2,389,747.64. This represents a 10.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Solomon Williams III sold 4,000 shares of AdaptHealth 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 directly owns 36,899 shares in the company, valued at $415,482.74. The trade was a 9.78 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.43% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in AdaptHealth by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock valued at $115,304,000 after buying an additional 818,241 shares in the last quarter. FMR LLC lifted its stake in shares of AdaptHealth by 9.3% in the 3rd quarter. FMR LLC now owns 7,350,549 shares of the company’s stock worth $82,547,000 after acquiring an additional 624,645 shares during the period. Reinhart Partners LLC. boosted its holdings in shares of AdaptHealth by 45.2% in the third quarter. Reinhart Partners LLC. now owns 6,198,642 shares of the company’s stock valued at $69,611,000 after acquiring an additional 1,929,339 shares in the last quarter. State Street Corp increased its stake in shares of AdaptHealth by 19.8% during the third quarter. State Street Corp now owns 4,124,284 shares of the company’s stock valued at $46,316,000 after acquiring an additional 681,816 shares during the period. Finally, Segall Bryant & Hamill LLC raised its holdings in AdaptHealth by 15.5% during the third quarter. Segall Bryant & Hamill LLC now owns 3,701,808 shares of the company’s stock worth $41,571,000 after purchasing an additional 496,453 shares in the last quarter. 82.67% of the stock is owned by institutional investors and hedge funds.

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.