Royal Bank of Canada Reaffirms Outperform Rating for AdaptHealth (NASDAQ:AHCO)

Royal Bank of Canada reiterated their outperform rating on shares of AdaptHealth (NASDAQ:AHCO) in a report issued on Monday morning, Benzinga reports. Royal Bank of Canada currently has a $13.00 target price on the stock.

Separately, Truist Financial reaffirmed a buy rating and set a $13.00 price target on shares of AdaptHealth in a report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $10.70.

AdaptHealth Stock Up 0.4 %

AdaptHealth stock opened at $9.74 on Monday. AdaptHealth has a fifty-two week low of $6.37 and a fifty-two week high of $13.85. The firm has a market capitalization of $1.30 billion, a PE ratio of -1.85, a P/E/G ratio of 0.76 and a beta of 1.10. The company’s 50-day moving average is $10.54 and its 200-day moving average is $9.90. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.33 and a quick ratio of 1.11.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). AdaptHealth had a negative net margin of 21.45% and a positive return on equity of 8.47%. The business had revenue of $805.98 million during the quarter, compared to the consensus estimate of $802.62 million. During the same quarter in the prior year, the company earned $0.16 EPS. AdaptHealth’s quarterly revenue was up 1.6% on a year-over-year basis. Sell-side analysts anticipate that AdaptHealth will post 0.82 earnings per share for the current year.

Institutional Trading of AdaptHealth

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in AdaptHealth by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock valued at $115,304,000 after buying an additional 818,241 shares in the last quarter. Reinhart Partners LLC. boosted its position in shares of AdaptHealth by 1.4% in the second quarter. Reinhart Partners LLC. now owns 4,269,303 shares of the company’s stock valued at $42,693,000 after acquiring an additional 59,092 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of AdaptHealth by 43.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,327,738 shares of the company’s stock valued at $23,277,000 after acquiring an additional 710,131 shares in the last quarter. Divisadero Street Capital Management LP increased its position in AdaptHealth by 179.7% during the second quarter. Divisadero Street Capital Management LP now owns 1,161,592 shares of the company’s stock worth $11,616,000 after acquiring an additional 746,340 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in AdaptHealth by 21.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,040,947 shares of the company’s stock worth $7,589,000 after acquiring an additional 183,135 shares during the period. 82.67% of the stock is owned by institutional investors and hedge funds.

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.