Truist Financial Cuts AdaptHealth (NASDAQ:AHCO) Price Target to $12.00

AdaptHealth (NASDAQ:AHCO) had its price objective decreased by Truist Financial from $13.00 to $12.00 in a research report sent to investors on Friday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities analysts have also issued reports about the company. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 target price on shares of AdaptHealth in a research note on Monday, August 12th. Canaccord Genuity Group cut their price objective on AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. UBS Group lowered their target price on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Robert W. Baird cut their price target on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

AdaptHealth Trading Down 4.0 %

Shares of AdaptHealth stock opened at $9.64 on Friday. The company’s 50-day moving average price is $10.61 and its 200-day moving average price is $10.46. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 1.34. AdaptHealth has a 12-month low of $6.43 and a 12-month high of $11.90. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -5.84, a PEG ratio of 1.34 and a beta of 1.11.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On AdaptHealth

Several institutional investors and hedge funds have recently bought and sold shares of AHCO. Reinhart Partners LLC. boosted its stake in shares of AdaptHealth by 45.2% during the third quarter. Reinhart Partners LLC. now owns 6,198,642 shares of the company’s stock valued at $69,611,000 after purchasing an additional 1,929,339 shares during the period. Vanguard Group Inc. boosted its position in AdaptHealth by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock valued at $115,304,000 after buying an additional 818,241 shares during the period. Divisadero Street Capital Management LP grew its holdings in AdaptHealth by 179.7% in the 2nd quarter. Divisadero Street Capital Management LP now owns 1,161,592 shares of the company’s stock worth $11,616,000 after acquiring an additional 746,340 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in AdaptHealth by 43.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,327,738 shares of the company’s stock worth $23,277,000 after acquiring an additional 710,131 shares during the last quarter. Finally, State Street Corp increased its position in shares of AdaptHealth by 19.8% in the third quarter. State Street Corp now owns 4,124,284 shares of the company’s stock valued at $46,316,000 after acquiring an additional 681,816 shares during the period. 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.