AdaptHealth (NASDAQ:AHCO) Stock Gets Price Target Bump from Leerink Partners

AdaptHealth (NASDAQ:AHCO) had its target price lifted by equities research analysts at Leerink Partners from $7.00 to $8.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Leerink Partners‘s price objective would suggest a potential upside of 7.96% from the stock’s previous close.

A number of other research analysts have also recently weighed in on AHCO. Truist Financial lowered their target price on shares of AdaptHealth from $14.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. UBS Group cut their price target on AdaptHealth from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday. Jefferies Financial Group raised AdaptHealth from a “hold” rating to a “buy” rating and raised their price target for the company from $11.00 to $13.00 in a report on Tuesday, July 21st. Weiss Ratings restated a “sell (d)” rating on shares of AdaptHealth in a research report on Wednesday, August 19th. Finally, Canaccord Genuity Group set a $10.00 price objective on AdaptHealth in a research note on Wednesday, August 5th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.43.

AdaptHealth Stock Performance

NASDAQ AHCO traded up $0.10 on Thursday, reaching $7.41. 4,622,133 shares of the stock were exchanged, compared to its average volume of 1,952,923. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.53. AdaptHealth has a one year low of $5.21 and a one year high of $13.43. The firm has a market capitalization of $1.01 billion, a PE ratio of -2.47 and a beta of 1.36. The company’s 50-day simple moving average is $5.94 and its two-hundred day simple moving average is $9.10.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported ($1.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($1.08). The firm had revenue of $745.65 million during the quarter, compared to the consensus estimate of $725.87 million. AdaptHealth had a negative return on equity of 0.27% and a negative net margin of 12.90%. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.16 earnings per share.

Hedge Funds Weigh In On AdaptHealth

Several institutional investors have recently added to or reduced their stakes in AHCO. Fulcrum Asset Management LLP increased its position in AdaptHealth by 526.4% in the third quarter. Fulcrum Asset Management LLP now owns 24,456 shares of the company’s stock worth $139,000 after purchasing an additional 20,552 shares during the last quarter. Brickley Wealth Management purchased a new position in AdaptHealth during the third quarter worth $56,000. Brighton Jones LLC bought a new position in AdaptHealth during the third quarter valued at $125,000. Chicago Partners Investment Group LLC bought a new position in AdaptHealth during the 3rd quarter valued at about $118,000. Finally, State of Wyoming raised its holdings in shares of AdaptHealth by 126.4% in the third quarter. State of Wyoming now owns 51,913 shares of the company’s stock worth $293,000 after buying an additional 28,988 shares during the period. Hedge funds and other institutional investors own 82.67% of the company’s stock.

About AdaptHealth

AdaptHealth Corp. (NASDAQ: AHCO) is a provider of home medical equipment, supplies and related healthcare services in the United States. The company helps patients manage chronic conditions and recover from illness or injury outside of traditional healthcare facilities, working with individuals, caregivers, physicians and payers.

Its products and services include respiratory equipment and supplies, oxygen therapy, sleep therapy devices such as continuous positive airway pressure systems, diabetes management products, mobility and accessibility equipment, and other durable medical equipment.