Brokerages Set AdaptHealth Corp. (NASDAQ:AHCO) Price Target at $13.50

AdaptHealth Corp. (NASDAQ:AHCO) has received an average recommendation of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $13.50.

Several research analysts have weighed in on the company. Truist Financial raised their price target on AdaptHealth from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Wall Street Zen cut AdaptHealth from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings cut AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, February 25th. Royal Bank Of Canada restated an “outperform” rating and issued a $13.00 price target on shares of AdaptHealth in a research report on Wednesday, February 25th. Finally, Leerink Partners decreased their price target on AdaptHealth from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th.

AdaptHealth Stock Up 0.6%

AHCO opened at $12.66 on Thursday. AdaptHealth has a 1-year low of $7.11 and a 1-year high of $12.87. The stock’s fifty day simple moving average is $10.75 and its 200 day simple moving average is $10.11. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 1.15. The stock has a market cap of $1.72 billion, a PE ratio of -23.02, a price-to-earnings-growth ratio of 1.45 and a beta of 1.50.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly earnings data on Tuesday, February 24th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of $0.34 by ($1.10). The firm had revenue of $846.29 million for the quarter, compared to the consensus estimate of $832.51 million. AdaptHealth had a positive return on equity of 3.42% and a negative net margin of 2.18%.The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 EPS. As a group, research analysts expect that AdaptHealth will post 0.88 earnings per share for the current year.

Insiders Place Their Bets

In other AdaptHealth news, major shareholder Richard M. Cashin, Jr. acquired 447,100 shares of AdaptHealth stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average cost of $9.91 per share, with a total value of $4,430,761.00. Following the completion of the purchase, the insider directly owned 16,312,698 shares of the company’s stock, valued at $161,658,837.18. This represents a 2.82% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders bought 2,494,518 shares of company stock valued at $24,352,291 over the last quarter. Company insiders own 1.55% of the company’s stock.

Institutional Trading of AdaptHealth

Large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its position in AdaptHealth by 22.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock valued at $70,000 after purchasing an additional 1,279 shares during the last quarter. MetLife Investment Management LLC raised its position in AdaptHealth by 3.1% in the fourth quarter. MetLife Investment Management LLC now owns 57,364 shares of the company’s stock valued at $571,000 after purchasing an additional 1,749 shares during the last quarter. Corient Private Wealth LLC raised its position in AdaptHealth by 8.6% in the fourth quarter. Corient Private Wealth LLC now owns 22,562 shares of the company’s stock valued at $227,000 after purchasing an additional 1,794 shares during the last quarter. CWM LLC raised its position in AdaptHealth by 17.5% in the third quarter. CWM LLC now owns 12,306 shares of the company’s stock valued at $110,000 after purchasing an additional 1,835 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in AdaptHealth by 433.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company’s stock valued at $26,000 after purchasing an additional 2,100 shares during the last quarter. 82.67% of the stock is owned by institutional investors and hedge funds.

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.