AdaptHealth (NASDAQ:AHCO) Shares Down 2.7% – Here’s Why

Shares of AdaptHealth Corp. (NASDAQ:AHCO) dropped 2.7% on Thursday . The stock traded as low as $9.77 and last traded at $9.78. Approximately 159,456 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 1,106,953 shares. The stock had previously closed at $10.05.

Analysts Set New Price Targets

AHCO has been the subject of a number of research reports. UBS Group lowered their price objective on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Robert W. Baird dropped their price objective on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note 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 on the stock in a report on Friday, November 15th. Canaccord Genuity Group lowered their target price on AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Royal Bank of Canada cut their price target on AdaptHealth from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.67.

AdaptHealth Stock Down 2.7 %

The company’s fifty day simple moving average is $10.04 and its 200-day simple moving average is $10.42. The firm has a market capitalization of $1.28 billion, a PE ratio of -5.78, a price-to-earnings-growth ratio of 1.36 and a beta of 1.10. 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 announced its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.02). The business had revenue of $805.90 million for the quarter, compared to analysts’ expectations of $809.32 million. AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 earnings per share. On average, analysts forecast that AdaptHealth Corp. will post 0.88 EPS for the current year.

Institutional Trading of AdaptHealth

Institutional investors have recently bought and sold shares of the stock. Intech Investment Management LLC raised its holdings in shares of AdaptHealth by 223.2% in the third quarter. Intech Investment Management LLC now owns 59,650 shares of the company’s stock worth $670,000 after buying an additional 41,196 shares during the last quarter. Victory Capital Management Inc. lifted its position in AdaptHealth by 727.4% during the 3rd quarter. Victory Capital Management Inc. now owns 141,507 shares of the company’s stock worth $1,589,000 after acquiring an additional 124,404 shares during the period. Royce & Associates LP grew its stake in AdaptHealth by 13.5% during the 3rd quarter. Royce & Associates LP now owns 777,405 shares of the company’s stock valued at $8,730,000 after purchasing an additional 92,740 shares during the last quarter. Barclays PLC increased its holdings in shares of 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 purchasing an additional 141,949 shares during the period. Finally, Segall Bryant & Hamill LLC raised its stake in shares of AdaptHealth by 15.5% in the third quarter. Segall Bryant & Hamill LLC now owns 3,701,808 shares of the company’s stock worth $41,571,000 after purchasing an additional 496,453 shares during the last quarter. 82.67% of the stock is currently owned by institutional investors and hedge funds.

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.