AdaptHealth Corp. (NASDAQ:AHCO) Receives $13.40 Average Target Price from Analysts

Shares of AdaptHealth Corp. (NASDAQ:AHCO) have earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $13.40.

A number of equities analysts have recently issued reports on AHCO shares. Wall Street Zen raised shares of AdaptHealth from a “buy” rating to a “strong-buy” rating in a research report on Friday. Weiss Ratings reissued a “sell (d+)” rating on shares of AdaptHealth in a research report on Saturday, September 27th. Finally, Zacks Research cut shares of AdaptHealth from a “hold” rating to a “strong sell” rating in a research report on Friday, September 19th.

Insiders Place Their Bets

In related news, Director David Solomon Williams III sold 8,200 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $9.73, for a total value of $79,786.00. Following the transaction, the director owned 50,045 shares of the company’s stock, valued at approximately $486,937.85. This trade represents a 14.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.55% of the company’s stock.

Hedge Funds Weigh In On AdaptHealth

Several large investors have recently added to or reduced their stakes in the business. Reinhart Partners LLC. lifted its position in AdaptHealth by 1.1% in the 2nd quarter. Reinhart Partners LLC. now owns 7,312,626 shares of the company’s stock valued at $68,958,000 after acquiring an additional 76,364 shares in the last quarter. Palisade Capital Management LP lifted its position in AdaptHealth by 12.3% in the 1st quarter. Palisade Capital Management LP now owns 2,711,142 shares of the company’s stock valued at $29,389,000 after acquiring an additional 297,268 shares in the last quarter. Invesco Ltd. lifted its position in AdaptHealth by 50.0% in the 2nd quarter. Invesco Ltd. now owns 1,906,074 shares of the company’s stock valued at $17,974,000 after acquiring an additional 634,973 shares in the last quarter. Iron Triangle Partners LP bought a new position in AdaptHealth in the 1st quarter valued at about $17,496,000. Finally, Charles Schwab Investment Management Inc. lifted its position in AdaptHealth by 14.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,301,652 shares of the company’s stock valued at $14,110,000 after acquiring an additional 163,272 shares in the last quarter. Institutional investors own 82.67% of the company’s stock.

AdaptHealth Price Performance

AHCO stock opened at $9.09 on Friday. The stock has a market capitalization of $1.23 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 1.01 and a beta of 1.61. The company’s 50-day moving average is $9.25 and its 200-day moving average is $9.12. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.06 and a quick ratio of 0.82. AdaptHealth has a 1 year low of $7.11 and a 1 year high of $11.63.

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.