AdaptHealth (NASDAQ:AHCO) Shares Down 6.4%

AdaptHealth Corp. (NASDAQ:AHCO)’s share price traded down 6.4% on Monday . The stock traded as low as $10.34 and last traded at $10.35. 187,350 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 1,054,215 shares. The stock had previously closed at $11.06.

Wall Street Analyst Weigh In

AHCO has been the subject of several analyst reports. Truist Financial reaffirmed a “buy” rating and set a $13.00 target price on shares of AdaptHealth in a research report on Wednesday, May 15th. UBS Group increased their price target on AdaptHealth from $9.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of AdaptHealth in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, AdaptHealth currently has a consensus rating of “Hold” and an average target price of $12.42.

AdaptHealth Trading Down 4.7 %

The company has a current ratio of 1.33, a quick ratio of 1.11 and a debt-to-equity ratio of 1.48. The stock’s 50-day simple moving average is $10.16 and its 200 day simple moving average is $9.13.

AdaptHealth (NASDAQ:AHCO) last announced its earnings results on Tuesday, May 7th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.04). AdaptHealth had a negative net margin of 21.45% and a positive return on equity of 8.47%. The business had revenue of $792.50 million for the quarter, compared to the consensus estimate of $771.08 million. As a group, sell-side analysts predict that AdaptHealth Corp. will post 0.82 EPS for the current year.

Institutional Trading of AdaptHealth

Several large investors have recently modified their holdings of AHCO. GAMMA Investing LLC lifted its position in shares of AdaptHealth by 197.1% during the 1st quarter. GAMMA Investing LLC now owns 2,537 shares of the company’s stock valued at $29,000 after acquiring an additional 1,683 shares during the period. Covestor Ltd increased its stake in AdaptHealth by 279.6% in the first quarter. Covestor Ltd now owns 3,109 shares of the company’s stock valued at $36,000 after purchasing an additional 2,290 shares in the last quarter. Beacon Investment Advisory Services Inc. acquired a new position in shares of AdaptHealth during the first quarter valued at about $118,000. SG Americas Securities LLC bought a new position in shares of AdaptHealth during the 1st quarter worth about $129,000. Finally, LRI Investments LLC acquired a new stake in shares of AdaptHealth in the 1st quarter valued at about $135,000. 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.