AdaptHealth (NASDAQ:AHCO) Stock Price Up 3.4% – Should You Buy?

AdaptHealth Corp. (NASDAQ:AHCO) shares were up 3.4% during mid-day trading on Wednesday . The stock traded as high as $10.43 and last traded at $10.38. Approximately 218,281 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 583,790 shares. The stock had previously closed at $10.04.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Truist Financial decreased their target price on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, November 15th. UBS Group dropped their target price on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Robert W. Baird decreased their price target on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Royal Bank of Canada dropped their price objective on shares of AdaptHealth from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Finally, Canaccord Genuity Group decreased their price objective on AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.67.

AdaptHealth Trading Up 0.3 %

The business’s 50 day simple moving average is $9.88 and its 200-day simple moving average is $10.33. 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 stock has a market capitalization of $1.35 billion, a P/E ratio of -6.10, a PEG ratio of 1.36 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 the consensus estimate of $0.17 by ($0.02). The company 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 for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.19 earnings per share. As a group, analysts forecast that AdaptHealth Corp. will post 0.88 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AHCO. Canada Pension Plan Investment Board acquired a new position in shares of AdaptHealth in the 2nd quarter valued at $58,000. Quarry LP grew its stake in AdaptHealth by 4,596.9% in the third quarter. Quarry LP now owns 5,965 shares of the company’s stock valued at $67,000 after acquiring an additional 5,838 shares during the period. Quest Partners LLC increased its holdings in shares of AdaptHealth by 11,522.7% in the second quarter. Quest Partners LLC now owns 10,228 shares of the company’s stock worth $102,000 after acquiring an additional 10,140 shares in the last quarter. Johnson Investment Counsel Inc. acquired a new stake in shares of AdaptHealth during the second quarter worth about $115,000. Finally, CIBC Asset Management Inc bought a new position in shares of AdaptHealth during the 3rd quarter valued at about $122,000. Institutional investors and hedge funds own 82.67% of the company’s stock.

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.