AdaptHealth (NASDAQ:AHCO) Stock Gets Price Target Reduction from UBS Group

AdaptHealth (NASDAQ:AHCO) had its price objective reduced by UBS Group from $10.00 to $9.00 in a research report sent to investors on Wednesday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other brokerages have also commented on AHCO. Jefferies Financial Group upgraded AdaptHealth from a “hold” rating to a “buy” rating and upped their target price for the company from $11.00 to $13.00 in a research report on Tuesday, July 21st. Royal Bank Of Canada reduced their price objective on shares of AdaptHealth from $15.00 to $8.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Canaccord Genuity Group set a $10.00 price objective on shares of AdaptHealth in a research note on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of AdaptHealth in a research report on Wednesday, August 19th. Finally, Robert W. Baird reduced their price target on shares of AdaptHealth from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, September 17th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $9.43.

AdaptHealth Trading Down 1.1%

AHCO stock traded down $0.08 during midday trading on Wednesday, hitting $7.33. The stock had a trading volume of 2,287,000 shares, compared to its average volume of 2,164,886. The company has a current ratio of 1.12, a quick ratio of 0.98 and a debt-to-equity ratio of 1.37. The firm has a market cap of $999.37 million, a P/E ratio of -2.44 and a beta of 1.36. The business has a fifty day moving average price of $6.00 and a two-hundred day moving average price of $9.07. AdaptHealth has a 1-year low of $5.21 and a 1-year high of $13.43.

AdaptHealth (NASDAQ:AHCO) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported ($1.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($1.08). AdaptHealth had a positive return on equity of 3.36% and a negative net margin of 7.07%. The business had revenue of $745.65 million for the quarter, compared to analyst estimates of $725.87 million. During the same quarter in the previous year, the business posted $0.16 earnings per share. The business’s revenue was down 9.1% on a year-over-year basis.

Hedge Funds Weigh In On AdaptHealth

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in AdaptHealth by 8.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,920,973 shares of the company’s stock valued at $82,353,000 after purchasing an additional 518,274 shares in the last quarter. Principal Financial Group Inc. raised its holdings in AdaptHealth by 25.1% during the first quarter. Principal Financial Group Inc. now owns 2,784,316 shares of the company’s stock worth $33,133,000 after buying an additional 558,357 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of AdaptHealth by 35.0% in the first quarter. Lazard Asset Management LLC now owns 1,669,454 shares of the company’s stock valued at $19,867,000 after buying an additional 432,664 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of AdaptHealth by 87.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 847,085 shares of the company’s stock valued at $10,080,000 after buying an additional 395,668 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of AdaptHealth by 1.4% during the first quarter. Empowered Funds LLC now owns 622,904 shares of the company’s stock valued at $7,413,000 after buying an additional 8,602 shares during the last quarter. 82.67% of the stock is currently owned by 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.