AdaptHealth (NASDAQ:AHCO) Given New $12.00 Price Target at Truist Financial

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

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

AdaptHealth Stock Down 4.0 %

Shares of AHCO stock traded down $0.40 on Friday, reaching $9.64. 793,681 shares of the company were exchanged, compared to its average volume of 1,071,743. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.00. The company has a 50-day moving average of $10.61 and a 200-day moving average of $10.46. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -5.84, a PEG ratio of 1.47 and a beta of 1.11. AdaptHealth has a one year low of $6.43 and a one year high of $11.90.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly 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 the consensus estimate of $809.32 million. AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The firm’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 EPS. Analysts anticipate that AdaptHealth will post 0.89 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On AdaptHealth

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in AdaptHealth by 12.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,451,173 shares of the company’s stock worth $27,532,000 after acquiring an additional 265,712 shares during the period. Barclays PLC raised its position in shares of AdaptHealth by 361.3% in the third quarter. Barclays PLC now owns 181,240 shares of the company’s stock worth $2,034,000 after buying an additional 141,949 shares in the last quarter. LRI Investments LLC boosted its stake in AdaptHealth by 32.0% during the third quarter. LRI Investments LLC now owns 15,331 shares of the company’s stock valued at $172,000 after buying an additional 3,713 shares during the period. Virtus Investment Advisers Inc. purchased a new position in AdaptHealth during the third quarter worth about $346,000. Finally, State Street Corp increased its stake in AdaptHealth by 19.8% in the 3rd quarter. State Street Corp now owns 4,124,284 shares of the company’s stock worth $46,316,000 after acquiring an additional 681,816 shares during the last quarter. 82.67% of the stock is owned by hedge funds and other institutional investors.

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.