Truist Financial Issues Pessimistic Forecast for AdaptHealth (NASDAQ:AHCO) Stock Price

AdaptHealth (NASDAQ:AHCO) had its price target decreased by Truist Financial from $13.00 to $12.00 in a report published on Friday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

AHCO has been the subject of a number of other research reports. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 target price on shares of AdaptHealth in a research note on Monday, August 12th. UBS Group lowered their price objective on AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Canaccord Genuity Group dropped their target price on shares of AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. 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. One 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 has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

AdaptHealth Stock Down 4.0 %

Shares of AdaptHealth stock opened at $9.64 on Friday. 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 has a 12-month low of $6.43 and a 12-month high of $11.90. The company has a market cap of $1.30 billion, a P/E ratio of -5.84, a PEG ratio of 1.34 and a beta of 1.11. The company’s fifty day simple moving average is $10.61 and its two-hundred day simple moving average is $10.46.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $809.32 million. During the same quarter in the prior year, the firm earned $0.19 EPS. AdaptHealth’s quarterly revenue was up .2% compared to the same quarter last year. Research analysts anticipate that AdaptHealth will post 0.89 EPS for the current year.

Insider Transactions at AdaptHealth

In other AdaptHealth news, Director David Solomon Williams III sold 4,000 shares of AdaptHealth stock in a transaction 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 completion of the sale, the director now owns 36,899 shares of the company’s stock, valued at approximately $415,482.74. This trade represents a 9.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Shaw Rietkerk sold 25,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.24, for a total value of $281,000.00. Following the completion of the transaction, the chief operating officer now owns 212,611 shares of the company’s stock, valued at $2,389,747.64. This represents a 10.52 % decrease in their position. The disclosure for this sale can be found here. 4.43% of the stock is owned by insiders.

Institutional Investors Weigh In On AdaptHealth

Large investors have recently bought and sold shares of the business. Texas Permanent School Fund Corp boosted its holdings in shares of AdaptHealth by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 71,201 shares of the company’s stock valued at $820,000 after acquiring an additional 979 shares during the last quarter. Cornercap Investment Counsel Inc. boosted its holdings in AdaptHealth by 2.8% in the second quarter. Cornercap Investment Counsel Inc. now owns 46,706 shares of the company’s stock worth $467,000 after purchasing an additional 1,254 shares during the last quarter. ProShare Advisors LLC grew its position in AdaptHealth by 7.6% in the 1st quarter. ProShare Advisors LLC now owns 18,994 shares of the company’s stock worth $219,000 after purchasing an additional 1,338 shares during the period. SummerHaven Investment Management LLC raised its stake in AdaptHealth by 2.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 57,645 shares of the company’s stock valued at $576,000 after buying an additional 1,503 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in shares of AdaptHealth by 1.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 171,877 shares of the company’s stock valued at $1,719,000 after buying an additional 2,060 shares during the period. 82.67% of the stock is currently owned by institutional investors.

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.