AdaptHealth (NASDAQ:AHCO) Sets New 12-Month Low – Here’s Why

AdaptHealth Corp. (NASDAQ:AHCO)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $7.40 and last traded at $7.59, with a volume of 824 shares traded. The stock had previously closed at $7.79.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AHCO shares. UBS Group decreased their price objective on AdaptHealth from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Royal Bank of Canada upped their price objective on shares of AdaptHealth from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Canaccord Genuity Group boosted their price target on AdaptHealth from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Robert W. Baird lifted their price objective on AdaptHealth from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Finally, Truist Financial raised their price target on AdaptHealth from $12.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AdaptHealth presently has an average rating of “Buy” and an average target price of $13.80.

AdaptHealth Stock Performance

The company has a market cap of $1.02 billion, a P/E ratio of -4.59, a PEG ratio of 1.08 and a beta of 1.44. The business’s 50 day simple moving average is $9.70 and its 200 day simple moving average is $9.96. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 1.34.

Institutional Trading of AdaptHealth

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Assetmark Inc. bought a new position in shares of AdaptHealth during the 4th quarter valued at approximately $28,000. Blue Trust Inc. raised its stake in shares of AdaptHealth by 24.1% during the fourth quarter. Blue Trust Inc. now owns 5,746 shares of the company’s stock valued at $55,000 after acquiring an additional 1,115 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of AdaptHealth by 175.2% in the 1st quarter. GAMMA Investing LLC now owns 7,473 shares of the company’s stock worth $81,000 after buying an additional 4,758 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in AdaptHealth by 15.4% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,663 shares of the company’s stock worth $121,000 after acquiring an additional 1,690 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its stake in shares of AdaptHealth by 10.1% during the fourth quarter. Guggenheim Capital LLC now owns 16,613 shares of the company’s stock valued at $158,000 after purchasing an additional 1,525 shares in the last quarter. 82.67% of the stock is currently owned by institutional investors.

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.