AdaptHealth (NASDAQ:AHCO) Given New $12.00 Price Target at Truist Financial

AdaptHealth (NASDAQ:AHCO) had its price target cut by Truist Financial from $13.00 to $12.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also issued reports on the stock. UBS Group decreased their target price on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Robert W. Baird lowered their price objective on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 target price on shares of AdaptHealth in a research report on Monday, August 12th. Finally, Canaccord Genuity Group dropped their price target on AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

AdaptHealth Stock Performance

NASDAQ:AHCO traded down $0.40 during mid-day trading on Friday, hitting $9.64. 793,681 shares of the stock were exchanged, compared to its average volume of 1,071,743. The firm’s 50-day simple moving average is $10.61 and its 200 day simple moving average is $10.46. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -5.84, a price-to-earnings-growth ratio of 1.47 and a beta of 1.11. AdaptHealth has a fifty-two week low of $6.43 and a fifty-two week high of $11.90. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.00 and a current ratio of 1.24.

AdaptHealth (NASDAQ:AHCO) last posted its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The firm had revenue of $805.90 million for the quarter, compared to analyst estimates of $809.32 million. During the same period in the prior year, the business posted $0.19 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. As a group, equities analysts anticipate that AdaptHealth will post 0.89 EPS for the current fiscal year.

Insider Buying and Selling at AdaptHealth

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Covestor Ltd raised its position in AdaptHealth by 279.6% during the 1st quarter. Covestor Ltd now owns 3,109 shares of the company’s stock worth $36,000 after purchasing an additional 2,290 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in AdaptHealth in the second quarter valued at $58,000. Quarry LP grew its holdings in AdaptHealth by 4,596.9% during the 3rd quarter. Quarry LP now owns 5,965 shares of the company’s stock worth $67,000 after acquiring 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 about $85,000. Finally, Innealta Capital LLC bought a new stake in shares of AdaptHealth during the 2nd quarter valued at about $101,000. Institutional investors own 82.67% of the company’s stock.

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.