AdaptHealth (NASDAQ:AHCO) Shares Gap Up – Here’s Why

AdaptHealth Corp. (NASDAQ:AHCO) gapped up before the market opened on Tuesday. The stock had previously closed at $5.91, but opened at $6.24. AdaptHealth shares last traded at $6.0150, with a volume of 1,351,901 shares trading hands.

Analysts Set New Price Targets

AHCO has been the topic of several recent research reports. Leerink Partners upped their price objective on AdaptHealth from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Thursday. Truist Financial cut their target price on shares of AdaptHealth from $14.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Canaccord Genuity Group set a $10.00 price target on shares of AdaptHealth in a research report on Wednesday, August 5th. Robert W. Baird decreased their price target on shares of AdaptHealth from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, September 17th. Finally, Wall Street Zen lowered shares of AdaptHealth from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.43.

AdaptHealth Stock Up 1.4%

The company has a fifty day moving average of $5.97 and a two-hundred day moving average of $9.09. The company has a market cap of $1.01 billion, a PE ratio of -2.47 and a beta of 1.36. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.98 and a current ratio of 1.13.

AdaptHealth (NASDAQ:AHCO) last announced its earnings results on Tuesday, November 3rd. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($1.08). The firm had revenue of $745.65 million during the quarter, compared to analysts’ expectations of $725.87 million. AdaptHealth had a negative net margin of 12.90% and a negative return on equity of 0.27%. The company’s revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.16 EPS.

Institutional Trading of AdaptHealth

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AHCO. Rockefeller Capital Management L.P. lifted its holdings in AdaptHealth by 433.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company’s stock valued at $26,000 after buying an additional 2,100 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in AdaptHealth in the 2nd quarter valued at about $56,000. Brickley Wealth Management bought a new position in AdaptHealth in the 3rd quarter worth about $56,000. Citizens Financial Group Inc. RI bought a new position in AdaptHealth in the 3rd quarter worth about $69,000. Finally, Assetmark Inc. grew its stake in AdaptHealth by 54.8% in the 1st quarter. Assetmark Inc. now owns 6,952 shares of the company’s stock worth $83,000 after acquiring an additional 2,460 shares in the last quarter. 82.67% of the stock is owned by hedge funds and other institutional investors.

AdaptHealth Company Profile

AdaptHealth Corp. (NASDAQ: AHCO) is a provider of home medical equipment, supplies and related healthcare services in the United States. The company helps patients manage chronic conditions and recover from illness or injury outside of traditional healthcare facilities, working with individuals, caregivers, physicians and payers.

Its products and services include respiratory equipment and supplies, oxygen therapy, sleep therapy devices such as continuous positive airway pressure systems, diabetes management products, mobility and accessibility equipment, and other durable medical equipment.