Canaccord Genuity Group Boosts AdaptHealth (NASDAQ:AHCO) Price Target to $15.00

AdaptHealth (NASDAQ:AHCO) had its price target boosted by Canaccord Genuity Group from $14.00 to $15.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 56.54% from the stock’s current price.

Several other equities analysts also recently issued reports on AHCO. Zacks Research downgraded shares of AdaptHealth from a “hold” rating to a “strong sell” rating in a report on Friday, September 19th. Wall Street Zen raised AdaptHealth from a “buy” rating to a “strong-buy” rating in a research note on Sunday, October 19th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of AdaptHealth in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $13.60.

AdaptHealth Price Performance

Shares of AdaptHealth stock traded down $0.76 on Thursday, reaching $9.58. The company’s stock had a trading volume of 560,942 shares, compared to its average volume of 1,321,645. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $1.30 billion, a P/E ratio of 17.72, a PEG ratio of 1.32 and a beta of 1.72. The stock has a 50-day moving average price of $9.20 and a 200-day moving average price of $9.06. AdaptHealth has a 52-week low of $7.11 and a 52-week high of $11.63.

Insider Transactions at AdaptHealth

In other AdaptHealth news, Director David Solomon Williams III sold 8,200 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $9.73, for a total transaction of $79,786.00. Following the transaction, the director directly owned 50,045 shares in the company, valued at $486,937.85. This represents a 14.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AdaptHealth

Hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its position in AdaptHealth by 1.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 80,301 shares of the company’s stock valued at $757,000 after acquiring an additional 1,511 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of AdaptHealth by 6.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,095 shares of the company’s stock valued at $256,000 after purchasing an additional 1,671 shares during the period. CWM LLC grew its holdings in shares of AdaptHealth by 17.5% in the third quarter. CWM LLC now owns 12,306 shares of the company’s stock valued at $110,000 after purchasing an additional 1,835 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in AdaptHealth by 2.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 81,771 shares of the company’s stock worth $771,000 after buying an additional 1,888 shares during the period. Finally, Arizona State Retirement System lifted its holdings in AdaptHealth by 9.3% during the 3rd quarter. Arizona State Retirement System now owns 27,937 shares of the company’s stock worth $250,000 after buying an additional 2,367 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.