Royal Bank of Canada Issues Positive Forecast for AdaptHealth (NASDAQ:AHCO) Stock Price

AdaptHealth (NASDAQ:AHCO) had its target price increased by Royal Bank of Canada from $11.00 to $14.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also issued reports on AHCO. Canaccord Genuity Group decreased their target price on AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. UBS Group lowered their price objective on shares of AdaptHealth from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Truist Financial boosted their target price on shares of AdaptHealth from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Robert W. Baird decreased their price target on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $13.40.

AdaptHealth Stock Performance

Shares of AHCO opened at $11.10 on Wednesday. The stock has a 50 day moving average of $9.87 and a 200 day moving average of $10.21. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -6.73, a PEG ratio of 1.08 and a beta of 1.12. AdaptHealth has a 12 month low of $8.35 and a 12 month high of $11.90. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 1.34.

Hedge Funds Weigh In On AdaptHealth

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AHCO. Pacer Advisors Inc. purchased a new stake in shares of AdaptHealth during the 4th quarter valued at approximately $76,271,000. FMR LLC raised its holdings in AdaptHealth by 9.3% during the 3rd quarter. FMR LLC now owns 7,350,549 shares of the company’s stock valued at $82,547,000 after acquiring an additional 624,645 shares during the period. Reinhart Partners LLC. lifted its position in shares of AdaptHealth by 1.1% during the fourth quarter. Reinhart Partners LLC. now owns 6,266,854 shares of the company’s stock worth $59,660,000 after acquiring an additional 68,212 shares in the last quarter. Segall Bryant & Hamill LLC boosted its holdings in shares of AdaptHealth by 29.8% in the fourth quarter. Segall Bryant & Hamill LLC now owns 4,803,981 shares of the company’s stock worth $45,734,000 after acquiring an additional 1,102,173 shares during the period. Finally, State Street Corp grew its position in shares of AdaptHealth by 19.8% in the third quarter. State Street Corp now owns 4,124,284 shares of the company’s stock valued at $46,316,000 after purchasing an additional 681,816 shares in the last quarter. Institutional investors 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.