Royal Bank of Canada Lowers AdaptHealth (NASDAQ:AHCO) Price Target to $11.00

AdaptHealth (NASDAQ:AHCO) had its price objective reduced by Royal Bank of Canada from $13.00 to $11.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 14.23% from the company’s previous close.

A number of other brokerages also recently commented on AHCO. Canaccord Genuity Group dropped their price objective on shares of AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Truist Financial dropped their target price on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Friday. UBS Group dropped their price target on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Robert W. Baird lowered their target price on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AdaptHealth currently has a consensus rating of “Moderate Buy” and an average target price of $11.67.

AdaptHealth Trading Up 0.6 %

Shares of NASDAQ AHCO traded up $0.06 during mid-day trading on Tuesday, reaching $9.63. 55,497 shares of the company’s stock were exchanged, compared to its average volume of 1,065,667. The company’s 50-day moving average is $10.58 and its 200-day moving average is $10.46. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.00 and a current ratio of 1.24. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -5.84, a PEG ratio of 1.34 and a beta of 1.11. AdaptHealth has a 52-week low of $6.43 and a 52-week high of $11.90.

AdaptHealth (NASDAQ:AHCO) last posted its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.02). AdaptHealth had a negative net margin of 6.57% and a positive return on equity of 9.62%. The company had revenue of $805.90 million during the quarter, compared to analyst estimates of $809.32 million. During the same quarter last year, the business posted $0.19 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Analysts expect that AdaptHealth will post 0.89 EPS for the current fiscal year.

Insider Activity

In other AdaptHealth news, Director David Solomon Williams III sold 4,000 shares of AdaptHealth stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $11.26, for a total value of $45,040.00. Following the transaction, the director now directly owns 36,899 shares in the company, valued at approximately $415,482.74. This trade represents a 9.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Shaw Rietkerk sold 25,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.24, for a total transaction of $281,000.00. Following the completion of the sale, the chief operating officer now owns 212,611 shares of the company’s stock, valued at $2,389,747.64. This trade represents a 10.52 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.43% of the company’s stock.

Institutional Investors Weigh In On AdaptHealth

A number of institutional investors have recently added to or reduced their stakes in the business. Boston Partners purchased a new stake in shares of AdaptHealth in the first quarter valued at approximately $693,000. Russell Investments Group Ltd. purchased a new stake in shares of AdaptHealth during the 1st quarter worth $2,242,000. Royce & Associates LP grew its stake in shares of AdaptHealth by 13.5% during the 3rd quarter. Royce & Associates LP now owns 777,405 shares of the company’s stock worth $8,730,000 after purchasing an additional 92,740 shares during the period. Vanguard Group Inc. increased its holdings in shares of AdaptHealth by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock valued at $115,304,000 after purchasing an additional 818,241 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of AdaptHealth by 142.9% in the third quarter. Harbor Capital Advisors Inc. now owns 449,840 shares of the company’s stock valued at $5,052,000 after purchasing an additional 264,610 shares during the period. Hedge funds and other institutional investors own 82.67% of the company’s stock.

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.