AdaptHealth (NASDAQ:AHCO) Price Target Raised to $15.00

AdaptHealth (NASDAQ:AHCO) had its price objective raised by Royal Bank Of Canada from $13.00 to $15.00 in a research report report published on Monday, MarketBeat reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts have also recently commented on the stock. Robert W. Baird set a $18.00 target price on shares of AdaptHealth in a report on Wednesday, May 6th. UBS Group reduced their target price on shares of AdaptHealth from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Canaccord Genuity Group upped their target price on shares of AdaptHealth from $14.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of AdaptHealth from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings downgraded shares of AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, February 25th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.29.

AdaptHealth Stock Down 3.9%

Shares of AHCO stock opened at $10.81 on Monday. AdaptHealth has a 12 month low of $8.06 and a 12 month high of $13.43. The stock has a market cap of $1.47 billion, a P/E ratio of -17.44, a P/E/G ratio of 0.51 and a beta of 1.57. The company has a current ratio of 0.92, a quick ratio of 0.71 and a debt-to-equity ratio of 1.21. The company has a 50 day simple moving average of $11.45 and a two-hundred day simple moving average of $10.46.

AdaptHealth (NASDAQ:AHCO) last announced its earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.13). AdaptHealth had a negative net margin of 2.42% and a positive return on equity of 2.76%. The business had revenue of $819.80 million for the quarter, compared to analysts’ expectations of $796.63 million. During the same period in the prior year, the company posted ($0.05) earnings per share. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts expect that AdaptHealth will post 0.79 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Richard M. Cashin, Jr. bought 820,528 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average price of $9.73 per share, with a total value of $7,983,737.44. Following the acquisition, the insider owned 14,638,708 shares of the company’s stock, valued at approximately $142,434,628.84. This represents a 5.94% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have acquired 2,494,518 shares of company stock valued at $24,352,291. Corporate insiders own 1.95% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AHCO. Deerfield Management Company L.P. boosted its holdings in AdaptHealth by 15.9% in the 3rd quarter. Deerfield Management Company L.P. now owns 11,477,730 shares of the company’s stock worth $102,726,000 after buying an additional 1,572,835 shares during the period. Dimensional Fund Advisors LP grew its stake in AdaptHealth by 15.6% during the third quarter. Dimensional Fund Advisors LP now owns 5,982,070 shares of the company’s stock valued at $53,537,000 after acquiring an additional 809,459 shares in the last quarter. Reinhart Partners LLC. grew its stake in AdaptHealth by 10.6% during the fourth quarter. Reinhart Partners LLC. now owns 8,100,785 shares of the company’s stock valued at $80,684,000 after acquiring an additional 773,727 shares in the last quarter. Kennedy Capital Management LLC grew its stake in AdaptHealth by 48.8% during the third quarter. Kennedy Capital Management LLC now owns 2,090,138 shares of the company’s stock valued at $18,707,000 after acquiring an additional 685,554 shares in the last quarter. Finally, Iron Triangle Partners LP grew its stake in AdaptHealth by 35.6% during the fourth quarter. Iron Triangle Partners LP now owns 2,609,003 shares of the company’s stock valued at $25,986,000 after acquiring an additional 684,871 shares in the last quarter. 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.