AdaptHealth (NASDAQ:AHCO) Stock Price Up 5.2% – Here’s Why

AdaptHealth Corp. (NASDAQ:AHCO)’s stock price traded up 5.2% during trading on Monday . The company traded as high as $10.99 and last traded at $10.87. 141,825 shares traded hands during trading, a decline of 82% from the average session volume of 790,492 shares. The stock had previously closed at $10.33.

Wall Street Analysts Forecast Growth

AHCO has been the subject of a number of research reports. Truist Financial dropped their price objective on AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Royal Bank of Canada dropped their target price on AdaptHealth from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. 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. UBS Group dropped 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, Canaccord Genuity Group reduced their target price on shares of AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, AdaptHealth currently has an average rating of “Buy” and a consensus price target of $12.40.

AdaptHealth Stock Down 3.2 %

The firm has a market cap of $1.44 billion, a PE ratio of -6.47, a PEG ratio of 1.32 and a beta of 1.09. 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 firm has a 50 day moving average price of $9.96 and a 200-day moving average price of $10.38.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $805.90 million for the quarter, compared to analyst estimates of $809.32 million. During the same quarter last year, the firm earned $0.19 EPS. The company’s revenue was up .2% on a year-over-year basis. Research analysts forecast that AdaptHealth Corp. will post 0.88 EPS for the current fiscal year.

Hedge Funds Weigh In On AdaptHealth

Several large investors have recently bought and sold shares of AHCO. Pacer Advisors Inc. acquired a new position in shares of AdaptHealth during the 4th quarter worth about $76,271,000. Reinhart Partners LLC. lifted its stake in AdaptHealth by 45.2% during the third quarter. Reinhart Partners LLC. now owns 6,198,642 shares of the company’s stock worth $69,611,000 after purchasing an additional 1,929,339 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in AdaptHealth by 43.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,327,738 shares of the company’s stock worth $23,277,000 after purchasing an additional 710,131 shares during the last quarter. State Street Corp increased its stake in AdaptHealth by 19.8% in the third quarter. State Street Corp now owns 4,124,284 shares of the company’s stock valued at $46,316,000 after purchasing an additional 681,816 shares during the last quarter. Finally, FMR LLC raised its holdings in AdaptHealth by 9.3% during the third quarter. FMR LLC now owns 7,350,549 shares of the company’s stock worth $82,547,000 after purchasing an additional 624,645 shares in the last quarter. Hedge funds and other institutional investors 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.