Royal Bank of Canada Reaffirms Outperform Rating for AdaptHealth (NASDAQ:AHCO)

Royal Bank of Canada reaffirmed their outperform rating on shares of AdaptHealth (NASDAQ:AHCO) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $13.00 price objective on the stock.

Separately, Truist Financial restated a buy rating and issued a $13.00 target price on shares of AdaptHealth in a report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, AdaptHealth presently has an average rating of Hold and an average target price of $10.70.

AdaptHealth Trading Up 0.4 %

Shares of NASDAQ AHCO opened at $9.74 on Monday. The business has a fifty day simple moving average of $10.54 and a 200-day simple moving average of $9.90. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -1.85, a P/E/G ratio of 0.76 and a beta of 1.10. AdaptHealth has a 12 month low of $6.37 and a 12 month high of $13.85. The company has a quick ratio of 1.11, a current ratio of 1.33 and a debt-to-equity ratio of 1.48.

AdaptHealth (NASDAQ:AHCO) last announced its earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). AdaptHealth had a positive return on equity of 8.47% and a negative net margin of 21.45%. The firm had revenue of $805.98 million during the quarter, compared to analyst estimates of $802.62 million. During the same quarter in the previous year, the business earned $0.16 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. Sell-side analysts predict that AdaptHealth will post 0.82 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of AdaptHealth by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock valued at $115,304,000 after acquiring an additional 818,241 shares in the last quarter. Reinhart Partners LLC. grew its stake in AdaptHealth by 1.4% in the second quarter. Reinhart Partners LLC. now owns 4,269,303 shares of the company’s stock valued at $42,693,000 after purchasing an additional 59,092 shares in the last quarter. Dimensional Fund Advisors LP increased its position in AdaptHealth by 43.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,327,738 shares of the company’s stock worth $23,277,000 after purchasing an additional 710,131 shares during the last quarter. Divisadero Street Capital Management LP increased its position in AdaptHealth by 179.7% in the 2nd quarter. Divisadero Street Capital Management LP now owns 1,161,592 shares of the company’s stock worth $11,616,000 after purchasing an additional 746,340 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of AdaptHealth by 21.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,040,947 shares of the company’s stock worth $7,589,000 after purchasing an additional 183,135 shares in the last quarter. Institutional investors and hedge funds own 82.67% of the company’s stock.

AdaptHealth Company Profile

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.