AdaptHealth (NASDAQ: AHCO – Get an Assessment) had its price target lowered by Canaccord Genuity Group equity research analysts from $29.00 to $26.00 in a research note released to investors on Thursday, reports The Fly. The company currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 73.22% from the company’s previous close.
Several other research companies have also recently published reports on AHCO. Robert W. Baird reduced his target price on AdaptHealth from $34.00 to $26.00 in a Friday, February 25 research note. Royal Bank of Canada reduced its target price on AdaptHealth from $31.00 to $26.00 and set an “outperform” rating on the stock in a Tuesday, March 8 research note. Truist Financial reduced its target price on AdaptHealth from $30.00 to $20.00 in a Friday, February 25 research note. Deutsche Bank Aktiengesellschaft cut its target price on AdaptHealth from $28.00 to $22.00 in a research note on Wednesday. Finally, SVB Leerink reduced its price target on AdaptHealth from $32.00 to $24.00 and set an “outperform” rating on the stock in a Wednesday, March 2 research note. One equity research analyst gave the stock a hold rating and five gave the company’s stock a buy rating. According to MarketBeat, the stock currently has a consensus buy rating and a consensus target price of $23.86.
AHCO stock traded down $0.87 at midday Thursday, hitting $15.01. The company had a trading volume of 8,519 shares, compared to an average volume of 1,135,622 shares. The company has a current ratio of 1.34, a quick ratio of 1.09 and a debt ratio of 1.06. AdaptHealth has a 52-week minimum of $11.40 and a 52-week maximum of $30.33. The stock’s 50-day moving average price is $15.40 and its 200-day moving average price is $19.12. The stock has a market capitalization of $2.01 billion, a price/earnings ratio of 37.46, a PEG ratio of 0.23 and a beta of 0.47.
AdaptHealth (NASDAQ:AHCO – Get Rating) last reported quarterly earnings data on Tuesday, May 10. The company reported earnings per share of $0.08 for the quarter, missing the consensus estimate of $0.18 per ($0.10). AdaptHealth had a net margin of 6.36% and a return on equity of 7.97%. The company posted revenue of $706.20 million in the quarter, versus a consensus estimate of $646.42 million. In the same quarter a year earlier, the company posted EPS of $0.17. The company’s revenue for the quarter increased by 46.5% compared to the same quarter last year. Analysts predict AdaptHealth will post 1.4 earnings per share for the current year.
In other news, CEO Stephen P. Griggs bought 32,342 shares in a trade Thursday, March 3. The shares were purchased at an average price of $15.44 per share, with a total value of $499,360.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, manager Skyknight Capital Fund Ii, LP purchased 17,486 shares in a trade on Friday, March 11. The shares were purchased at an average cost of $15.50 per share, for a total transaction of $271,033.00. Disclosure of this purchase can be found here. Over the past ninety days, insiders have purchased 88,180 shares of the company worth $1,351,923. Company insiders hold 17.30% of the company’s stock.
Institutional investors and hedge funds have recently changed their stakes in the company. Nisa Investment Advisors LLC increased its position in AdaptHealth by 96.6% in the first quarter. Nisa Investment Advisors LLC now owns 1,710 shares of the company worth $27,000 after purchasing an additional 840 shares in the last quarter. Covestor Ltd purchased a new stake in shares of AdaptHealth during the fourth quarter worth approximately $35,000. US Bancorp DE increased its position in AdaptHealth shares by 142.4% during the third quarter. US Bancorp DE now owns 1,939 shares of the company worth $46,000 after buying 1,139 more shares in the last quarter. Group One Trading LP increased its position in AdaptHealth shares by 134.3% during the first quarter. Group One Trading LP now owns 3,720 shares of the company worth $60,000 after purchasing an additional 2,132 shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its position in AdaptHealth shares by 306.5% during the fourth quarter. Advisor Group Holdings Inc. now owns 3,000 shares of the company worth $73,000 after purchasing an additional 2,262 shares in the last quarter. Institutional investors and hedge funds own 83.68% of the company’s shares.
About AdaptHealth (Get an evaluation)
AdaptHealth Corp., together with its subsidiaries, provides 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 people with obstructive sleep apnea; medical devices and supplies, including continuous glucometers and insulin pumps for patients for the treatment of diabetes; HME to patients discharged from acute care and other facilities; home oxygen therapy and related chronic therapy services; and other HME devices and supplies on behalf of chronically ill patients with wound care, urology, incontinence, ostomy and nutritional supply needs.
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