AdaptHealth (NASDAQ:AHCO) Shares Up 3.4% – What’s Next?

AdaptHealth Corp. (NASDAQ:AHCO) shares rose 3.4% during trading on Wednesday . The stock traded as high as $10.43 and last traded at $10.38. Approximately 218,281 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 583,790 shares. The stock had previously closed at $10.04.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AHCO. Robert W. Baird lowered their target price on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. UBS Group decreased their price objective on AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Royal Bank of Canada cut their target price on AdaptHealth from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Canaccord Genuity Group lowered their price objective 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. Finally, Truist Financial reduced their target price on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a report on Friday, November 15th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.67.

AdaptHealth Price Performance

The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -6.10, a price-to-earnings-growth ratio of 1.36 and a beta of 1.09. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.00 and a current ratio of 1.24. The company has a 50-day simple moving average of $9.88 and a two-hundred day simple moving average of $10.33.

AdaptHealth (NASDAQ:AHCO) last announced 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 firm had revenue of $805.90 million during 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%. The business’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 EPS. As a group, equities research analysts forecast that AdaptHealth Corp. will post 0.88 EPS for the current year.

Hedge Funds Weigh In On AdaptHealth

Hedge funds and other institutional investors have recently bought and sold shares of the business. Intech Investment Management LLC boosted its stake in shares of AdaptHealth by 223.2% during the 3rd quarter. Intech Investment Management LLC now owns 59,650 shares of the company’s stock worth $670,000 after acquiring an additional 41,196 shares during the period. Victory Capital Management Inc. boosted its position in AdaptHealth by 727.4% during the third quarter. Victory Capital Management Inc. now owns 141,507 shares of the company’s stock worth $1,589,000 after purchasing an additional 124,404 shares during the period. Barclays PLC increased its holdings in shares of AdaptHealth by 361.3% in the third quarter. Barclays PLC now owns 181,240 shares of the company’s stock valued at $2,034,000 after purchasing an additional 141,949 shares during the last quarter. Royce & Associates LP raised its position in shares of AdaptHealth by 13.5% in the third quarter. Royce & Associates LP now owns 777,405 shares of the company’s stock valued at $8,730,000 after purchasing an additional 92,740 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of AdaptHealth by 39.7% during the 3rd quarter. Principal Financial Group Inc. now owns 543,744 shares of the company’s stock worth $6,106,000 after buying an additional 154,434 shares during the last quarter. 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.