AdaptHealth (NASDAQ:AHCO) Price Target Raised to $15.00 at Canaccord Genuity Group

AdaptHealth (NASDAQ:AHCO) had its target price increased by Canaccord Genuity Group from $14.00 to $15.00 in a report issued on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

AHCO has been the topic of several other research reports. Wall Street Zen raised shares of AdaptHealth from a “buy” rating to a “strong-buy” rating in a research note on Sunday, October 19th. Zacks Research cut shares of AdaptHealth from a “hold” rating to a “strong sell” rating in a research report on Friday, September 19th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of AdaptHealth in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.60.

AdaptHealth Price Performance

AHCO stock traded down $0.11 on Thursday, reaching $9.50. 840,623 shares of the company’s stock were exchanged, compared to its average volume of 1,322,184. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 1.09. AdaptHealth has a twelve month low of $7.11 and a twelve month high of $11.63. The stock has a fifty day moving average of $9.20 and a 200-day moving average of $9.07. The firm has a market cap of $1.29 billion, a PE ratio of 17.27, a P/E/G ratio of 1.28 and a beta of 1.72.

Insider Activity

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

Hedge Funds Weigh In On AdaptHealth

Several institutional investors and hedge funds have recently added to or reduced their stakes in AHCO. GSA Capital Partners LLP acquired a new position in shares of AdaptHealth during the 3rd quarter worth approximately $103,000. Bastion Asset Management Inc. bought a new stake in shares of AdaptHealth in the third quarter valued at about $4,199,000. Public Sector Pension Investment Board increased its stake in AdaptHealth by 16.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 418,231 shares of the company’s stock worth $3,743,000 after acquiring an additional 58,487 shares during the period. Rhumbline Advisers raised its position in shares of AdaptHealth by 3.4% in the 3rd quarter. Rhumbline Advisers now owns 310,236 shares of the company’s stock valued at $2,777,000 after buying an additional 10,218 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of AdaptHealth by 98.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 72,870 shares of the company’s stock worth $652,000 after buying an additional 36,201 shares during the last quarter. 82.67% of the stock is currently owned by 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.