AdaptHealth (NASDAQ:AHCO) Hits New 52-Week Low – Time to Sell?

AdaptHealth Corp. (NASDAQ:AHCO)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $6.79 and last traded at $6.9060, with a volume of 429979 shares trading hands. The stock had previously closed at $10.83.

Analyst Ratings Changes

A number of equities analysts have weighed in on AHCO shares. Weiss Ratings restated a “sell (d)” rating on shares of AdaptHealth in a research report on Friday, May 22nd. Jefferies Financial Group upgraded shares of AdaptHealth from a “hold” rating to a “buy” rating and lifted their target price for the company from $11.00 to $13.00 in a research report on Tuesday, July 21st. Royal Bank Of Canada boosted their target price on shares of AdaptHealth from $13.00 to $15.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Wall Street Zen raised shares of AdaptHealth from a “hold” rating to a “buy” rating in a research note on Sunday, June 14th. Finally, Truist Financial lifted their price objective on AdaptHealth from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, AdaptHealth currently has an average rating of “Moderate Buy” and a consensus target price of $14.14.

AdaptHealth Stock Performance

The company has a quick ratio of 0.71, a current ratio of 0.92 and a debt-to-equity ratio of 1.21. The stock has a 50-day moving average of $10.29 and a 200 day moving average of $10.68. The stock has a market cap of $868.19 million, a PE ratio of -10.51, a P/E/G ratio of 0.55 and a beta of 1.47.

Insider Buying and Selling

In other news, insider Russell E. Schuster III sold 11,275 shares of AdaptHealth stock in a transaction on Monday, June 1st. The stock was sold at an average price of $10.06, for a total value of $113,426.50. Following the completion of the sale, the insider directly owned 136,538 shares of the company’s stock, valued at approximately $1,373,572.28. The trade was a 7.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.95% of the stock is owned by insiders.

Hedge Funds Weigh In On AdaptHealth

Several large investors have recently bought and sold shares of AHCO. SG Americas Securities LLC grew its holdings in shares of AdaptHealth by 386.3% during the fourth quarter. SG Americas Securities LLC now owns 78,141 shares of the company’s stock worth $778,000 after purchasing an additional 62,073 shares during the last quarter. Reinhart Partners LLC. lifted its holdings in shares of AdaptHealth by 10.6% in the 4th quarter. Reinhart Partners LLC. now owns 8,100,785 shares of the company’s stock valued at $80,684,000 after purchasing an additional 773,727 shares during the last quarter. Kennedy Capital Management LLC boosted its position in shares of AdaptHealth by 15.2% in the 4th quarter. Kennedy Capital Management LLC now owns 2,408,038 shares of the company’s stock valued at $23,984,000 after purchasing an additional 317,900 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of AdaptHealth by 87.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 847,085 shares of the company’s stock valued at $10,080,000 after purchasing an additional 395,668 shares during the period. Finally, Hudson Edge Investment Partners Inc. purchased a new position in AdaptHealth during the 4th quarter worth approximately $614,000. Hedge funds and other institutional investors own 82.67% of the company’s stock.

AdaptHealth Company Profile

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.