AdaptHealth (NASDAQ:AHCO) Price Target Cut to $13.00 by Analysts at Canaccord Genuity Group

AdaptHealth (NASDAQ:AHCO) had its price objective trimmed by Canaccord Genuity Group from $14.00 to $13.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada restated an “outperform” rating and set a $13.00 price target on shares of AdaptHealth in a research note on Monday, August 12th. Robert W. Baird decreased their target price on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.36.

AdaptHealth Stock Up 10.9 %

Shares of NASDAQ:AHCO opened at $10.18 on Wednesday. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -1.95, a PEG ratio of 1.63 and a beta of 1.11. AdaptHealth has a 12-month low of $6.37 and a 12-month high of $11.90. The business has a 50-day moving average price of $10.74 and a 200 day moving average price of $10.44. The company has a current ratio of 1.15, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings results 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 21.20% and a positive return on equity of 9.58%. The company had revenue of $805.90 million for the quarter, compared to analyst estimates of $809.32 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. AdaptHealth’s revenue was up .2% on a year-over-year basis. Sell-side analysts expect that AdaptHealth will post 0.87 EPS for the current year.

Insider Activity

In related news, Director David Solomon Williams III sold 4,000 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $11.26, for a total transaction of $45,040.00. Following the completion of the transaction, the director now directly owns 36,899 shares of the company’s stock, valued at $415,482.74. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director David Solomon Williams III sold 4,000 shares of the firm’s stock in a transaction that occurred 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 owns 36,899 shares of the company’s stock, valued at $415,482.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Shaw Rietkerk sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $11.24, for a total transaction of $281,000.00. Following the transaction, the chief operating officer now owns 212,611 shares of the company’s stock, valued at $2,389,747.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.43% of the company’s stock.

Institutional Trading of AdaptHealth

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Covestor Ltd increased its holdings in shares of AdaptHealth by 279.6% in the 1st quarter. Covestor Ltd now owns 3,109 shares of the company’s stock valued at $36,000 after acquiring an additional 2,290 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in AdaptHealth in the second quarter valued at approximately $58,000. Blue Trust Inc. acquired a new stake in AdaptHealth during the second quarter worth approximately $85,000. Innealta Capital LLC purchased a new stake in shares of AdaptHealth during the 2nd quarter worth approximately $101,000. Finally, Quest Partners LLC boosted its holdings in shares of AdaptHealth by 11,522.7% in the 2nd quarter. Quest Partners LLC now owns 10,228 shares of the company’s stock valued at $102,000 after buying an additional 10,140 shares in the last quarter. 82.67% of the stock is currently owned by institutional investors and hedge funds.

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.