AdaptHealth (NASDAQ:AHCO) Sets New 12-Month Low – Here’s What Happened

AdaptHealth Corp. (NASDAQ:AHCO) shares hit a new 52-week low on Monday . The company traded as low as $7.40 and last traded at $7.59, with a volume of 824 shares changing hands. The stock had previously closed at $7.79.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AHCO. Canaccord Genuity Group raised their target price on AdaptHealth from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Robert W. Baird lifted their price target on AdaptHealth from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Truist Financial raised their price objective on shares of AdaptHealth from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Royal Bank of Canada increased their target price on shares of AdaptHealth from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Finally, UBS Group dropped their price target on shares of AdaptHealth from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $13.80.

AdaptHealth Trading Down 3.0 %

The company has a fifty day moving average price of $9.70 and a two-hundred day moving average price of $9.96. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -4.59, a PEG ratio of 1.08 and a beta of 1.44. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 1.34.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. raised its position in shares of AdaptHealth by 24.1% during the 4th quarter. Blue Trust Inc. now owns 5,746 shares of the company’s stock valued at $55,000 after buying an additional 1,115 shares during the period. SummerHaven Investment Management LLC grew its stake in AdaptHealth by 1.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 79,883 shares of the company’s stock worth $866,000 after purchasing an additional 1,329 shares in the last quarter. Guggenheim Capital LLC increased its holdings in shares of AdaptHealth by 10.1% in the 4th quarter. Guggenheim Capital LLC now owns 16,613 shares of the company’s stock valued at $158,000 after acquiring an additional 1,525 shares during the last quarter. Sterling Capital Management LLC raised its holdings in 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. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in AdaptHealth by 15.4% in 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 acquiring an additional 1,690 shares during the last quarter. 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.