AdaptHealth (NASDAQ:AHCO) Shares Up 5.2% – Still a Buy?

AdaptHealth Corp. (NASDAQ:AHCO)’s share price shot up 5.2% on Monday . The company traded as high as $10.99 and last traded at $10.87. Approximately 141,825 shares were traded during trading, a decline of 82% from the average session volume of 790,492 shares. The stock had previously closed at $10.33.

Analyst Ratings Changes

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

AdaptHealth Stock Up 6.2 %

The stock has a market cap of $1.48 billion, a PE ratio of -6.66, a P/E/G ratio of 1.32 and a beta of 1.09. The business has a 50 day moving average of $9.92 and a 200-day moving average of $10.38. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 1.34.

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

Institutional Investors Weigh In On AdaptHealth

Several hedge funds have recently modified their holdings of the stock. Blue Trust Inc. grew its stake in shares of AdaptHealth by 24.1% during the 4th quarter. Blue Trust Inc. now owns 5,746 shares of the company’s stock worth $55,000 after purchasing an additional 1,115 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of AdaptHealth during the 2nd quarter worth approximately $58,000. Quarry LP lifted its stake in AdaptHealth by 4,596.9% in the 3rd quarter. Quarry LP now owns 5,965 shares of the company’s stock valued at $67,000 after buying an additional 5,838 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in AdaptHealth during the 3rd quarter valued at $122,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in AdaptHealth by 15.4% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,663 shares of the company’s stock worth $121,000 after buying an additional 1,690 shares in the last quarter. 82.67% of the stock is owned by institutional investors and hedge funds.

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.