AdaptHealth (NASDAQ:AHCO) Trading Up 5.2% – Still a Buy?

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

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Truist Financial dropped their price objective on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Robert W. Baird cut their price target on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Canaccord Genuity Group decreased 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 cut their target price on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Royal Bank of Canada decreased their price target on shares of AdaptHealth from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, AdaptHealth has an average rating of “Buy” and an average target price of $12.40.

AdaptHealth Stock Performance

The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. The stock has a fifty day moving average price of $9.96 and a 200-day moving average price of $10.38. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -6.47, a price-to-earnings-growth ratio of 1.32 and a beta of 1.09.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings data 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). AdaptHealth had a negative net margin of 6.57% and a positive return on equity of 9.62%. The firm had revenue of $805.90 million during the quarter, compared to analyst estimates of $809.32 million. During the same period in the prior year, the firm posted $0.19 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts expect that AdaptHealth Corp. will post 0.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AdaptHealth

Institutional investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC lifted its holdings in shares of AdaptHealth by 223.2% in the 3rd quarter. Intech Investment Management LLC now owns 59,650 shares of the company’s stock valued at $670,000 after buying an additional 41,196 shares during the period. Victory Capital Management Inc. boosted its position in shares of AdaptHealth by 727.4% during the 3rd quarter. Victory Capital Management Inc. now owns 141,507 shares of the company’s stock worth $1,589,000 after purchasing an additional 124,404 shares in the last quarter. Barclays PLC grew its stake in shares of AdaptHealth by 361.3% during the 3rd quarter. Barclays PLC now owns 181,240 shares of the company’s stock worth $2,034,000 after purchasing an additional 141,949 shares during the period. Royce & Associates LP increased its holdings in shares of AdaptHealth by 13.5% in the 3rd quarter. Royce & Associates LP now owns 777,405 shares of the company’s stock valued at $8,730,000 after purchasing an additional 92,740 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of AdaptHealth by 39.7% in the third quarter. Principal Financial Group Inc. now owns 543,744 shares of the company’s stock valued at $6,106,000 after purchasing an additional 154,434 shares during the period. Hedge funds and other institutional investors own 82.67% of the company’s stock.

AdaptHealth Company Profile

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.