Brokerages Set AdaptHealth Corp. (NASDAQ:AHCO) Target Price at $13.50

AdaptHealth Corp. (NASDAQ:AHCO) has been given a consensus recommendation of “Hold” by the seven analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $13.00.

Several research analysts have recently issued reports on AHCO shares. Zacks Research raised shares of AdaptHealth from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 1st. Royal Bank Of Canada reissued an “outperform” rating and set a $13.00 price target on shares of AdaptHealth in a research note on Wednesday, February 25th. Weiss Ratings lowered shares of AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday, February 25th. Wall Street Zen cut shares of AdaptHealth from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Truist Financial lifted their target price on shares of AdaptHealth from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, April 13th.

Insider Activity

In related news, major shareholder Richard M. Cashin, Jr. purchased 820,528 shares of AdaptHealth stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average cost of $9.73 per share, for a total transaction of $7,983,737.44. Following the transaction, the insider directly owned 14,638,708 shares of the company’s stock, valued at approximately $142,434,628.84. This trade represents a 5.94% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders acquired 2,494,518 shares of company stock valued at $24,352,291. 1.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On AdaptHealth

Hedge funds have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. boosted its holdings in AdaptHealth by 433.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company’s stock worth $26,000 after buying an additional 2,100 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of AdaptHealth by 8.6% during the 4th quarter. Corient Private Wealth LLC now owns 22,562 shares of the company’s stock worth $227,000 after buying an additional 1,794 shares during the period. Millennium Management LLC increased its stake in shares of AdaptHealth by 197.0% in the 4th quarter. Millennium Management LLC now owns 552,677 shares of the company’s stock valued at $5,505,000 after acquiring an additional 366,566 shares during the last quarter. Man Group plc increased its stake in shares of AdaptHealth by 24.3% in the 4th quarter. Man Group plc now owns 88,774 shares of the company’s stock valued at $884,000 after acquiring an additional 17,371 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its stake in shares of AdaptHealth by 699.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 118,942 shares of the company’s stock valued at $1,185,000 after acquiring an additional 104,058 shares during the last quarter. Institutional investors and hedge funds own 82.67% of the company’s stock.

AdaptHealth Trading Up 0.1%

AHCO stock opened at $12.67 on Thursday. 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 has a twelve month low of $7.11 and a twelve month high of $12.87. The company has a market cap of $1.72 billion, a P/E ratio of -23.04, a PEG ratio of 1.46 and a beta of 1.50. The business has a fifty day moving average of $10.78 and a 200-day moving average of $10.14.

AdaptHealth (NASDAQ:AHCO) last posted 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). The firm had revenue of $846.29 million during the quarter, compared to the consensus estimate of $832.51 million. AdaptHealth had a negative net margin of 2.18% and a positive return on equity of 3.42%. AdaptHealth’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 EPS. As a group, equities research analysts expect that AdaptHealth will post 0.79 EPS for the current year.

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.