AdaptHealth (NASDAQ:AHCO) Price Target Raised to $14.00

AdaptHealth (NASDAQ:AHCO) had its price objective lifted by Truist Financial from $13.00 to $14.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also recently issued reports on the stock. Leerink Partners reduced their price target on shares of AdaptHealth from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Weiss Ratings cut shares of AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, February 25th. Zacks Research raised shares of AdaptHealth from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Wall Street Zen cut shares of AdaptHealth from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $13.00 price target on shares of AdaptHealth in a research report on Wednesday, February 25th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, AdaptHealth presently has a consensus rating of “Moderate Buy” and an average target price of $13.50.

AdaptHealth Stock Down 0.9%

Shares of AHCO opened at $12.65 on Monday. The stock has a market capitalization of $1.72 billion, a PE ratio of -23.00, a P/E/G ratio of 1.47 and a beta of 1.50. AdaptHealth has a 1 year low of $7.11 and a 1 year high of $12.87. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.81 and a current ratio of 1.02. The company’s 50-day simple moving average is $10.66 and its 200-day simple moving average is $10.05.

AdaptHealth (NASDAQ:AHCO) last issued its quarterly earnings results on Tuesday, February 24th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($1.10). The business had revenue of $846.29 million for the quarter, compared to analyst estimates of $832.51 million. AdaptHealth had a positive return on equity of 3.42% and a negative net margin of 2.18%.The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 EPS. Analysts forecast that AdaptHealth will post 0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Richard M. Cashin, Jr. bought 447,100 shares of AdaptHealth stock in a transaction that occurred on Friday, March 20th. The shares were purchased at an average price of $9.91 per share, with a total value of $4,430,761.00. Following the completion of the acquisition, the insider directly owned 16,312,698 shares in the company, valued at $161,658,837.18. The trade was a 2.82% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 2,494,518 shares of company stock valued at $24,352,291 over the last 90 days. 1.55% of the stock is owned by company insiders.

Institutional Trading of AdaptHealth

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in AdaptHealth by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 11,768,599 shares of the company’s stock valued at $117,215,000 after acquiring an additional 491,106 shares in the last quarter. Deerfield Management Company L.P. raised its holdings in AdaptHealth by 15.9% in the third quarter. Deerfield Management Company L.P. now owns 11,477,730 shares of the company’s stock valued at $102,726,000 after acquiring an additional 1,572,835 shares in the last quarter. Reinhart Partners LLC. raised its holdings in AdaptHealth by 10.6% in the fourth quarter. Reinhart Partners LLC. now owns 8,100,785 shares of the company’s stock valued at $80,684,000 after acquiring an additional 773,727 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in AdaptHealth by 7.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,402,699 shares of the company’s stock valued at $63,773,000 after acquiring an additional 420,629 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in AdaptHealth by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 2,627,306 shares of the company’s stock valued at $26,173,000 after acquiring an additional 19,998 shares in the last quarter. Institutional investors and hedge funds own 82.67% of the company’s stock.

About AdaptHealth

AdaptHealth, Inc operates as a leading provider of home medical equipment (HME) and related services in the United States. The company focuses on delivering respiratory care, mobility solutions and bathroom safety products to patients with chronic and acute medical needs. Through its comprehensive service offerings, AdaptHealth aims to enhance quality of life and clinical outcomes for patients who require long-term support outside of a hospital setting.

The company’s respiratory portfolio includes products such as continuous positive airway pressure (CPAP) devices, oxygen concentrators, ventilators, and associated supplies for patients with sleep apnea, COPD and other pulmonary conditions.