AdaptHealth (NASDAQ:AHCO) Price Target Raised to $14.00 at Truist Financial

AdaptHealth (NASDAQ:AHCO) had its target price raised by Truist Financial from $13.00 to $14.00 in a research note released on Monday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on AHCO. Royal Bank Of Canada restated an “outperform” rating and issued a $13.00 price objective on shares of AdaptHealth in a research report on Wednesday, February 25th. Leerink Partners lowered their price objective on shares of AdaptHealth from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Weiss Ratings cut shares of AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, February 25th. Zacks Research upgraded shares of AdaptHealth from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Wall Street Zen cut shares of AdaptHealth from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, AdaptHealth presently has an average rating of “Moderate Buy” and a consensus price target of $13.50.

AdaptHealth Trading Up 1.2%

Shares of AHCO stock opened at $12.32 on Monday. AdaptHealth has a 12-month low of $7.11 and a 12-month high of $12.55. The company has a market capitalization of $1.67 billion, a P/E ratio of -22.40, a P/E/G ratio of 1.40 and a beta of 1.50. The firm has a 50-day moving average price of $10.55 and a 200 day moving average price of $10.01. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 1.15.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings results on Tuesday, February 24th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($1.10). AdaptHealth had a negative net margin of 2.18% and a positive return on equity of 3.42%. The firm had revenue of $846.29 million for the quarter, compared to the consensus estimate of $832.51 million. During the same period in the prior year, the business earned $0.34 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. Research analysts forecast that AdaptHealth will post 0.88 earnings per share for the current fiscal year.

Insider Activity at AdaptHealth

In other AdaptHealth news, major shareholder Richard M. Cashin, Jr. purchased 447,100 shares of the stock in a transaction dated Friday, March 20th. The stock was bought at an average price of $9.91 per share, for a total transaction of $4,430,761.00. Following the transaction, the insider directly owned 16,312,698 shares in the company, valued at $161,658,837.18. This represents a 2.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have purchased 2,494,518 shares of company stock worth $24,352,291. 1.55% of the stock is owned by insiders.

Institutional Investors Weigh In On AdaptHealth

Institutional investors have recently modified their holdings of the business. Exchange Traded Concepts LLC acquired a new stake in shares of AdaptHealth during the 3rd quarter worth approximately $1,171,000. Bastion Asset Management Inc. acquired a new stake in shares of AdaptHealth during the 3rd quarter worth approximately $4,199,000. Kennedy Capital Management LLC grew its position in shares of AdaptHealth by 48.8% during the 3rd quarter. Kennedy Capital Management LLC now owns 2,090,138 shares of the company’s stock worth $18,707,000 after buying an additional 685,554 shares during the period. Public Sector Pension Investment Board grew its holdings in AdaptHealth by 16.3% during the third quarter. Public Sector Pension Investment Board now owns 418,231 shares of the company’s stock valued at $3,743,000 after purchasing an additional 58,487 shares during the period. Finally, CSM Advisors LLC grew its holdings in AdaptHealth by 13.8% during the third quarter. CSM Advisors LLC now owns 742,335 shares of the company’s stock valued at $6,645,000 after purchasing an additional 90,258 shares during the period. Institutional investors and hedge funds own 82.67% of the company’s stock.

About AdaptHealth

AdaptHealth, Inc operates as a leading provider of home medical equipment (HME) and related services in the United States. The company focuses on delivering respiratory care, mobility solutions and bathroom safety products to patients with chronic and acute medical needs. Through its comprehensive service offerings, AdaptHealth aims to enhance quality of life and clinical outcomes for patients who require long-term support outside of a hospital setting.

The company’s respiratory portfolio includes products such as continuous positive airway pressure (CPAP) devices, oxygen concentrators, ventilators, and associated supplies for patients with sleep apnea, COPD and other pulmonary conditions.