Royal Bank of Canada Has Lowered Expectations for AdaptHealth (NASDAQ:AHCO) Stock Price

AdaptHealth (NASDAQ:AHCO) had its price objective trimmed by Royal Bank of Canada from $13.00 to $11.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other research analysts have also recently issued research reports about the company. Canaccord Genuity Group cut their price objective on AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Robert W. Baird cut their price objective on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Truist Financial cut their price objective on AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Finally, UBS Group cut 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. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, AdaptHealth presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.67.

AdaptHealth Price Performance

AdaptHealth stock opened at $9.86 on Tuesday. AdaptHealth has a 12 month low of $6.43 and a 12 month high of $11.90. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.00. The business has a 50 day simple moving average of $10.49 and a 200-day simple moving average of $10.44. The stock has a market capitalization of $1.33 billion, a PE ratio of -5.97, a price-to-earnings-growth ratio of 1.37 and a beta of 1.11.

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

Insider Activity

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

Institutional Trading of AdaptHealth

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd grew its holdings in AdaptHealth by 279.6% in the 1st quarter. Covestor Ltd now owns 3,109 shares of the company’s stock valued at $36,000 after buying an additional 2,290 shares during the period. Canada Pension Plan Investment Board purchased a new stake in AdaptHealth in the 2nd quarter valued at about $58,000. Quarry LP grew its holdings 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 during the period. Blue Trust Inc. purchased a new stake in AdaptHealth in the 2nd quarter valued at about $85,000. Finally, Innealta Capital LLC acquired a new position in shares of AdaptHealth in the 2nd quarter valued at about $101,000. 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.