AdaptHealth (NASDAQ:AHCO) Shares Gap Up – Still a Buy?

AdaptHealth Corp. (NASDAQ:AHCO)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $8.55, but opened at $9.70. AdaptHealth shares last traded at $10.84, with a volume of 1,773,668 shares traded.

Analysts Set New Price Targets

AHCO has been the topic of a number of research reports. 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. Truist Financial cut their price objective on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Royal Bank of Canada decreased 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. UBS Group dropped their target price on AdaptHealth from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Robert W. Baird reduced their price target on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $12.20.

AdaptHealth Trading Up 24.2 %

The business’s 50-day simple moving average is $9.83 and its two-hundred day simple moving average is $10.19. 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 company has a market capitalization of $1.43 billion, a PE ratio of -6.48, a PEG ratio of 1.08 and a beta of 1.12.

Institutional Investors Weigh In On AdaptHealth

A number of hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. acquired a new stake in shares of AdaptHealth during the fourth quarter worth approximately $76,271,000. Principal Financial Group Inc. raised its stake in shares of AdaptHealth by 204.0% in the 4th quarter. Principal Financial Group Inc. now owns 1,652,765 shares of the company’s stock valued at $15,735,000 after purchasing an additional 1,109,021 shares in the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of AdaptHealth by 29.8% during the fourth quarter. Segall Bryant & Hamill LLC now owns 4,803,981 shares of the company’s stock worth $45,734,000 after purchasing an additional 1,102,173 shares during the last quarter. State Street Corp increased its holdings 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 buying an additional 681,816 shares during the last quarter. Finally, FMR LLC raised its stake in AdaptHealth by 9.3% during the third quarter. FMR LLC now owns 7,350,549 shares of the company’s stock valued at $82,547,000 after buying an additional 624,645 shares in the last quarter. 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.