AdaptHealth (NASDAQ:AHCO) Price Target Cut to $11.00 by Analysts at Royal Bank of Canada

AdaptHealth (NASDAQ:AHCO) had its price target lowered by Royal Bank of Canada from $13.00 to $11.00 in a report published on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other research analysts have also recently issued reports about the company. Truist Financial reduced their target price on AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Robert W. Baird reduced their target price on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Canaccord Genuity Group cut their price objective on AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, UBS Group cut 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. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $11.67.

AdaptHealth Trading Up 1.7 %

Shares of AHCO stock opened at $9.89 on Tuesday. AdaptHealth has a 12 month low of $6.43 and a 12 month high of $11.90. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. The business’s 50 day moving average is $10.51 and its two-hundred day moving average is $10.45. The company has a market cap of $1.33 billion, a PE ratio of -5.99, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11.

AdaptHealth (NASDAQ:AHCO) last announced 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). The company had revenue of $805.90 million during the quarter, compared to analyst estimates of $809.32 million. AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.19 EPS. Equities analysts predict that AdaptHealth will post 0.88 EPS for the current year.

Insider Buying and Selling

In other news, Director David Solomon Williams III sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $11.26, for a total transaction of $45,040.00. Following the completion of the transaction, the director now directly owns 36,899 shares in the company, valued at approximately $415,482.74. The trade was a 9.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Shaw Rietkerk sold 25,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.24, for a total value of $281,000.00. Following the transaction, the chief operating officer now owns 212,611 shares of the company’s stock, valued at $2,389,747.64. The trade was a 10.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.43% of the company’s stock.

Hedge Funds Weigh In On AdaptHealth

Institutional investors and hedge funds have recently modified their holdings of the business. Covestor Ltd grew its position in shares of AdaptHealth by 279.6% in the 1st quarter. Covestor Ltd now owns 3,109 shares of the company’s stock valued at $36,000 after purchasing an additional 2,290 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of AdaptHealth in the 2nd quarter valued at approximately $58,000. Quarry LP grew its position in shares of AdaptHealth by 4,596.9% in the 3rd quarter. Quarry LP now owns 5,965 shares of the company’s stock valued at $67,000 after purchasing an additional 5,838 shares during the period. Blue Trust Inc. acquired a new position in shares of AdaptHealth in the 2nd quarter valued at approximately $85,000. Finally, Innealta Capital LLC acquired a new position in shares of AdaptHealth in the 2nd quarter valued at approximately $101,000. 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.