Canaccord Genuity Group Issues Positive Forecast for AdaptHealth (NASDAQ:AHCO) Stock Price

AdaptHealth (NASDAQ:AHCO) had its price target boosted by stock analysts at Canaccord Genuity Group from $13.00 to $14.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 25.39% from the company’s current price.

A number of other brokerages have also weighed in on AHCO. Royal Bank of Canada raised their price objective on AdaptHealth from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday. Robert W. Baird dropped their target price on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Truist Financial raised their price objective on shares of AdaptHealth from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, UBS Group lowered their price objective on AdaptHealth from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $13.40.

AdaptHealth Trading Up 4.9 %

Shares of AdaptHealth stock traded up $0.53 during trading hours on Wednesday, hitting $11.17. The company’s stock had a trading volume of 1,529,851 shares, compared to its average volume of 1,190,582. The firm has a fifty day moving average of $9.84 and a 200-day moving average of $10.20. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.00 and a current ratio of 1.24. AdaptHealth has a twelve month low of $8.35 and a twelve month high of $11.90. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -6.81, a P/E/G ratio of 1.08 and a beta of 1.12.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its holdings in AdaptHealth by 24.1% in the fourth quarter. Blue Trust Inc. now owns 5,746 shares of the company’s stock worth $55,000 after acquiring an additional 1,115 shares in the last quarter. Guggenheim Capital LLC lifted its position in shares of AdaptHealth by 10.1% in the 4th quarter. Guggenheim Capital LLC now owns 16,613 shares of the company’s stock worth $158,000 after purchasing an additional 1,525 shares during the period. Sterling Capital Management LLC increased its position in shares of AdaptHealth by 5.2% during the fourth quarter. Sterling Capital Management LLC now owns 33,558 shares of the company’s stock worth $319,000 after purchasing an additional 1,644 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in AdaptHealth by 15.4% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,663 shares of the company’s stock valued at $121,000 after purchasing an additional 1,690 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of AdaptHealth by 0.5% in the fourth quarter. Rhumbline Advisers now owns 313,110 shares of the company’s stock worth $2,981,000 after buying an additional 1,691 shares in the last quarter. 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.