AdaptHealth (NASDAQ:AHCO) Stock Price Down 6.1% – Here’s Why

AdaptHealth Corp. (NASDAQ:AHCO) traded down 6.1% during trading on Monday . The company traded as low as $10.16 and last traded at $10.16. 1,330,353 shares traded hands during trading, an increase of 56% from the average session volume of 851,935 shares. The stock had previously closed at $10.82.

Analyst Ratings Changes

A number of equities analysts have weighed in on AHCO shares. Robert W. Baird dropped their price target on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Royal Bank of Canada dropped their price objective on AdaptHealth from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Canaccord Genuity Group lowered their price target on AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. UBS Group dropped their price target on AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, Truist Financial lowered their target price on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $12.40.

AdaptHealth Price Performance

The firm’s 50-day moving average price is $10.02 and its two-hundred day moving average price is $10.37. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 1.34. The stock has a market cap of $1.37 billion, a PE ratio of -6.16, a PEG ratio of 1.38 and a beta of 1.12.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The business had revenue of $805.90 million during the quarter, compared to analysts’ expectations of $809.32 million. AdaptHealth had a negative net margin of 6.57% and a positive return on equity of 9.62%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 earnings per share. On average, equities analysts expect that AdaptHealth Corp. will post 0.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AdaptHealth

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Proficio Capital Partners LLC purchased a new stake in shares of AdaptHealth in the fourth quarter valued at about $181,000. Oppenheimer Asset Management Inc. boosted its stake in shares of AdaptHealth by 10.4% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 30,716 shares of the company’s stock valued at $292,000 after purchasing an additional 2,902 shares during the period. Illinois Municipal Retirement Fund grew its holdings in shares of AdaptHealth by 47.2% in the fourth quarter. Illinois Municipal Retirement Fund now owns 58,415 shares of the company’s stock valued at $556,000 after purchasing an additional 18,738 shares in the last quarter. Bank of New York Mellon Corp increased its stake in AdaptHealth by 1.9% during the 4th quarter. Bank of New York Mellon Corp now owns 759,302 shares of the company’s stock worth $7,229,000 after buying an additional 14,378 shares during the period. Finally, Hussman Strategic Advisors Inc. purchased a new position in AdaptHealth in the 4th quarter valued at approximately $1,000,000. Hedge funds and other institutional investors own 82.67% of the company’s stock.

AdaptHealth Company Profile

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.