Royal Bank of Canada Issues Positive Forecast for AdaptHealth (NASDAQ:AHCO) Stock Price

AdaptHealth (NASDAQ:AHCO) had its target price lifted by research analysts at Royal Bank of Canada from $11.00 to $14.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 24.78% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Truist Financial boosted their target price on shares of AdaptHealth from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday. UBS Group reduced their price target on shares of AdaptHealth from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Robert W. Baird cut their price target on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Finally, Canaccord Genuity Group decreased their price target on shares of AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $13.20.

AdaptHealth Trading Up 5.5 %

NASDAQ:AHCO traded up $0.58 during trading hours on Wednesday, hitting $11.22. The company had a trading volume of 1,230,823 shares, compared to its average volume of 1,183,741. AdaptHealth has a 1 year low of $8.35 and a 1 year high of $11.90. 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 company has a market cap of $1.51 billion, a P/E ratio of -6.80, a P/E/G ratio of 1.08 and a beta of 1.12. The company has a 50-day moving average of $9.84 and a 200 day moving average of $10.20.

Institutional Investors Weigh In On AdaptHealth

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Intech Investment Management LLC grew its position in shares of AdaptHealth by 223.2% in the 3rd quarter. Intech Investment Management LLC now owns 59,650 shares of the company’s stock valued at $670,000 after buying an additional 41,196 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of AdaptHealth by 727.4% in the third quarter. Victory Capital Management Inc. now owns 141,507 shares of the company’s stock valued at $1,589,000 after purchasing an additional 124,404 shares during the period. Royce & Associates LP increased its holdings in shares of AdaptHealth by 13.5% in the third quarter. Royce & Associates LP now owns 777,405 shares of the company’s stock worth $8,730,000 after purchasing an additional 92,740 shares during the period. Barclays PLC lifted its position in AdaptHealth by 361.3% in the 3rd quarter. Barclays PLC now owns 181,240 shares of the company’s stock worth $2,034,000 after buying an additional 141,949 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of AdaptHealth by 39.7% in the third quarter. Principal Financial Group Inc. now owns 543,744 shares of the company’s stock valued at $6,106,000 after acquiring an additional 154,434 shares during the period. 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.