Analysts Set AdaptHealth Corp. (NASDAQ:AHCO) PT at $11.67

AdaptHealth Corp. (NASDAQ:AHCO) has earned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $11.67.

AHCO has been the subject of several analyst reports. Robert W. Baird lowered their target price on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Canaccord Genuity Group cut their target price 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. UBS Group cut their price objective on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Truist Financial cut their price objective on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Finally, Royal Bank of Canada cut their price objective on shares of AdaptHealth from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th.

AdaptHealth Price Performance

AHCO stock opened at $9.58 on Friday. The company has a 50 day simple moving average of $10.32 and a 200 day simple moving average of $10.46. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -5.81, a P/E/G ratio of 1.41 and a beta of 1.10. AdaptHealth has a 1 year low of $6.43 and a 1 year high of $11.90. 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 (NASDAQ:AHCO) last posted its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $805.90 million for the quarter, compared to the consensus estimate of $809.32 million. During the same period in the previous year, the firm earned $0.19 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. Research analysts anticipate that AdaptHealth will post 0.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other AdaptHealth news, COO Shaw Rietkerk sold 25,000 shares of AdaptHealth stock in a transaction that occurred on Friday, September 20th. The shares were 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 of the company’s stock, valued at approximately $2,389,747.64. This trade represents a 10.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.43% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. increased its stake in shares of AdaptHealth by 20.2% in the third quarter. Franklin Resources Inc. now owns 65,601 shares of the company’s stock worth $737,000 after buying an additional 11,037 shares during the period. Geode Capital Management LLC boosted its holdings in AdaptHealth by 12.2% in the third quarter. Geode Capital Management LLC now owns 2,451,173 shares of the company’s stock valued at $27,532,000 after acquiring an additional 265,712 shares in the last quarter. Barclays PLC boosted its holdings in AdaptHealth by 361.3% in the third quarter. Barclays PLC now owns 181,240 shares of the company’s stock valued at $2,034,000 after acquiring an additional 141,949 shares in the last quarter. LRI Investments LLC boosted its holdings in AdaptHealth by 32.0% in the third quarter. LRI Investments LLC now owns 15,331 shares of the company’s stock valued at $172,000 after acquiring an additional 3,713 shares in the last quarter. Finally, Virtus Investment Advisers Inc. bought a new stake in AdaptHealth in the third quarter valued at $346,000. 82.67% of the stock is owned by hedge funds and other institutional investors.

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.