AdaptHealth (NASDAQ:AHCO) Stock Price Up 11.9% – What’s Next?

Shares of AdaptHealth Corp. (NASDAQ:AHCO) rose 11.9% during trading on Wednesday. The stock traded as high as $6.88 and last traded at $7.0250. 1,560,571 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 1,920,893 shares. The stock had previously closed at $6.28.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AHCO shares. Truist Financial dropped their price target on shares of AdaptHealth from $14.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Royal Bank Of Canada reduced their price objective on AdaptHealth from $15.00 to $8.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Leerink Partners lifted their target price on AdaptHealth from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Thursday. Wall Street Zen cut AdaptHealth from a “hold” rating to a “sell” rating in a research note on Sunday, August 16th. Finally, Jefferies Financial Group upgraded AdaptHealth from a “hold” rating to a “buy” rating and upped their price target for the stock from $11.00 to $13.00 in a report on Tuesday, July 21st. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.43.

AdaptHealth Trading Down 1.1%

The company’s fifty day moving average is $5.97 and its two-hundred day moving average is $9.09. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.53. The stock has a market cap of $999.37 million, a price-to-earnings ratio of -2.44 and a beta of 1.36.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.05) by ($1.08). AdaptHealth had a negative return on equity of 0.27% and a negative net margin of 12.90%. The firm had revenue of $745.65 million for the quarter, compared to analyst estimates of $725.87 million. During the same quarter last year, the firm earned $0.16 EPS. The company’s revenue was down 9.1% on a year-over-year basis.

Hedge Funds Weigh In On AdaptHealth

Large investors have recently bought and sold shares of the business. Fifth Third Bancorp raised its position in shares of AdaptHealth by 6.8% during the 3rd quarter. Fifth Third Bancorp now owns 104,843 shares of the company’s stock worth $591,000 after acquiring an additional 6,692 shares in the last quarter. Maryland State Retirement & Pension System increased its stake in AdaptHealth by 52.8% in the third quarter. Maryland State Retirement & Pension System now owns 24,062 shares of the company’s stock valued at $136,000 after purchasing an additional 8,314 shares during the last quarter. Fulcrum Asset Management LLP increased its stake in AdaptHealth by 526.4% in the third quarter. Fulcrum Asset Management LLP now owns 24,456 shares of the company’s stock valued at $139,000 after purchasing an additional 20,552 shares during the last quarter. Brickley Wealth Management acquired a new stake in AdaptHealth during the third quarter worth approximately $56,000. Finally, Brighton Jones LLC acquired a new stake in AdaptHealth during the third quarter worth approximately $125,000. Hedge funds and other institutional investors own 82.67% of the company’s stock.

AdaptHealth Company Profile

AdaptHealth Corp. (NASDAQ: AHCO) is a provider of home medical equipment, supplies and related healthcare services in the United States. The company helps patients manage chronic conditions and recover from illness or injury outside of traditional healthcare facilities, working with individuals, caregivers, physicians and payers.

Its products and services include respiratory equipment and supplies, oxygen therapy, sleep therapy devices such as continuous positive airway pressure systems, diabetes management products, mobility and accessibility equipment, and other durable medical equipment.