AdaptHealth (NASDAQ:AHCO) Trading 5.2% Higher – Time to Buy?

AdaptHealth Corp. (NASDAQ:AHCO) shot up 5.2% on Monday . The company traded as high as $10.99 and last traded at $10.87. 141,825 shares were traded during trading, a decline of 82% from the average session volume of 790,492 shares. The stock had previously closed at $10.33.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Truist Financial lowered their price target on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, November 15th. UBS Group reduced their price target on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Canaccord Genuity Group lowered their price objective on AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Royal Bank of Canada reduced their target price on AdaptHealth from $13.00 to $11.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. Finally, Robert W. Baird lowered their price target on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AdaptHealth has a consensus rating of “Buy” and a consensus target price of $12.40.

AdaptHealth Trading Up 6.2 %

The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 1.34. The stock has a 50-day simple moving average of $9.92 and a 200 day simple moving average of $10.38. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -6.66, a PEG ratio of 1.32 and a beta of 1.09.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The business had revenue of $805.90 million for 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 quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.19 earnings per share. As a group, equities research analysts predict that AdaptHealth Corp. will post 0.88 EPS for the current fiscal year.

Institutional Trading of AdaptHealth

Institutional investors and hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. purchased a new position in shares of AdaptHealth in the fourth quarter valued at approximately $76,271,000. Reinhart Partners LLC. lifted its stake in AdaptHealth by 45.2% in the 3rd quarter. Reinhart Partners LLC. now owns 6,198,642 shares of the company’s stock worth $69,611,000 after purchasing an additional 1,929,339 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 valued at $23,277,000 after purchasing an additional 710,131 shares during the last quarter. State Street Corp increased its holdings in shares of AdaptHealth by 19.8% during the 3rd quarter. State Street Corp now owns 4,124,284 shares of the company’s stock worth $46,316,000 after buying an additional 681,816 shares during the last quarter. Finally, FMR LLC raised its position in shares of AdaptHealth by 9.3% during the 3rd quarter. FMR LLC now owns 7,350,549 shares of the company’s stock valued at $82,547,000 after buying an additional 624,645 shares during the period. 82.67% of the stock is currently owned by hedge funds and other 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.