Truist Financial Lowers AdaptHealth (NASDAQ:AHCO) Price Target to $12.00

AdaptHealth (NASDAQ:AHCO) had its price objective cut by Truist Financial from $13.00 to $12.00 in a research note released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently weighed in on AHCO. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price target on shares of AdaptHealth in a report on Monday, August 12th. UBS Group dropped their price objective on AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Robert W. Baird dropped their price objective on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, Canaccord Genuity Group decreased their price target on shares of AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $12.00.

AdaptHealth Price Performance

Shares of NASDAQ:AHCO opened at $9.57 on Friday. The business’s 50 day simple moving average is $10.58 and its 200-day simple moving average is $10.46. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -5.80, a price-to-earnings-growth ratio of 1.34 and a beta of 1.11. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.00. AdaptHealth has a 12 month low of $6.43 and a 12 month high of $11.90.

AdaptHealth (NASDAQ:AHCO) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.02). AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. 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 firm earned $0.19 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities analysts forecast that AdaptHealth will post 0.89 earnings per share for the current fiscal year.

Insider Transactions at AdaptHealth

In other news, Director David Solomon Williams III sold 4,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $11.26, for a total transaction of $45,040.00. Following the transaction, the director now owns 36,899 shares of the company’s stock, valued at approximately $415,482.74. This trade represents a 9.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Shaw Rietkerk sold 25,000 shares of the stock in a transaction dated 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 directly owns 212,611 shares in the company, valued at $2,389,747.64. The trade was a 10.52 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.43% of the company’s stock.

Institutional Investors Weigh In On AdaptHealth

Several institutional investors and hedge funds have recently bought and sold shares of AHCO. Janney Montgomery Scott LLC raised its stake in AdaptHealth by 80.1% during the first quarter. Janney Montgomery Scott LLC now owns 27,949 shares of the company’s stock worth $322,000 after acquiring an additional 12,430 shares during the period. Texas Permanent School Fund Corp increased its stake in shares of AdaptHealth by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 71,201 shares of the company’s stock valued at $820,000 after purchasing an additional 979 shares during the period. SG Americas Securities LLC acquired a new stake in shares of AdaptHealth in the first quarter valued at approximately $129,000. Sei Investments Co. acquired a new stake in shares of AdaptHealth in the first quarter valued at approximately $2,365,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of AdaptHealth in the first quarter valued at approximately $2,242,000. Institutional investors and hedge funds own 82.67% of the company’s stock.

About AdaptHealth

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.