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

AdaptHealth (NASDAQ:AHCO) had its target price lifted by investment analysts at Royal Bank Of Canada from $13.00 to $15.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 31.27% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. Leerink Partners lowered their price objective on shares of AdaptHealth from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Jefferies Financial Group restated a “hold” rating and set a $11.00 price objective on shares of AdaptHealth in a research report on Monday, April 20th. Truist Financial raised their price objective on shares of AdaptHealth from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, April 13th. UBS Group lowered their price objective on shares of AdaptHealth from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Finally, Weiss Ratings cut shares of AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, February 25th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, AdaptHealth currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.29.

AdaptHealth Price Performance

NASDAQ:AHCO traded up $0.13 during trading hours on Monday, hitting $11.43. The stock had a trading volume of 214,542 shares, compared to its average volume of 1,325,268. The company has a 50 day simple moving average of $11.31 and a two-hundred day simple moving average of $10.41. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.92 and a quick ratio of 0.71. AdaptHealth has a one year low of $8.06 and a one year high of $13.43. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -18.45, a P/E/G ratio of 0.51 and a beta of 1.57.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.13). AdaptHealth had a negative net margin of 2.42% and a positive return on equity of 2.76%. The firm had revenue of $819.80 million during the quarter, compared to the consensus estimate of $796.63 million. During the same period in the previous year, the business earned ($0.05) earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Research analysts forecast that AdaptHealth will post 0.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AdaptHealth news, major shareholder Richard M. Cashin, Jr. bought 820,528 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were bought at an average price of $9.73 per share, for a total transaction of $7,983,737.44. Following the transaction, the insider directly owned 14,638,708 shares in the company, valued at $142,434,628.84. This trade represents a 5.94% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have acquired 2,494,518 shares of company stock valued at $24,352,291. 1.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On AdaptHealth

Large investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. raised its position in AdaptHealth by 433.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company’s stock worth $26,000 after purchasing an additional 2,100 shares during the period. FNY Investment Advisers LLC purchased a new position in AdaptHealth in the 3rd quarter worth $35,000. PNC Financial Services Group Inc. raised its position in AdaptHealth by 22.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock worth $70,000 after purchasing an additional 1,279 shares during the period. Assetmark Inc. raised its position in AdaptHealth by 54.8% in the 1st quarter. Assetmark Inc. now owns 6,952 shares of the company’s stock worth $83,000 after purchasing an additional 2,460 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in AdaptHealth by 318.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock worth $90,000 after acquiring an additional 7,297 shares during the last quarter. Hedge funds and other institutional investors own 82.67% of the company’s stock.

About AdaptHealth

AdaptHealth, Inc operates as a leading provider of home medical equipment (HME) and related services in the United States. The company focuses on delivering respiratory care, mobility solutions and bathroom safety products to patients with chronic and acute medical needs. Through its comprehensive service offerings, AdaptHealth aims to enhance quality of life and clinical outcomes for patients who require long-term support outside of a hospital setting.

The company’s respiratory portfolio includes products such as continuous positive airway pressure (CPAP) devices, oxygen concentrators, ventilators, and associated supplies for patients with sleep apnea, COPD and other pulmonary conditions.