AdaptHealth (NASDAQ:AHCO) Hits New 52-Week Low – Time to Sell?

Shares of AdaptHealth Corp. (NASDAQ:AHCO) reached a new 52-week low on Tuesday . The stock traded as low as $6.79 and last traded at $6.9060, with a volume of 429979 shares trading hands. The stock had previously closed at $10.83.

Analysts Set New Price Targets

AHCO has been the topic of a number of recent research reports. UBS Group cut their target price on shares of AdaptHealth from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Truist Financial raised their price objective on shares of AdaptHealth from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Jefferies Financial Group raised shares of AdaptHealth from a “hold” rating to a “buy” rating and raised their price objective for the stock from $11.00 to $13.00 in a research report on Tuesday, July 21st. Robert W. Baird reduced their target price on shares of AdaptHealth from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Monday, July 6th. Finally, Canaccord Genuity Group increased their target price on shares of AdaptHealth from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, AdaptHealth has a consensus rating of “Moderate Buy” and a consensus target price of $14.14.

AdaptHealth Trading Down 41.0%

The company has a current ratio of 0.92, a quick ratio of 0.71 and a debt-to-equity ratio of 1.21. The business has a 50 day moving average price of $10.29 and a 200-day moving average price of $10.68. The firm has a market capitalization of $868.19 million, a PE ratio of -10.51, a P/E/G ratio of 0.55 and a beta of 1.47.

Insider Transactions at AdaptHealth

In other news, insider Russell E. Schuster III sold 11,275 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $10.06, for a total transaction of $113,426.50. Following the transaction, the insider directly owned 136,538 shares of the company’s stock, valued at $1,373,572.28. This represents a 7.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.95% of the company’s stock.

Institutional Trading of AdaptHealth

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. boosted its holdings in AdaptHealth by 433.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company’s stock worth $26,000 after buying an additional 2,100 shares in the last quarter. PNC Financial Services Group Inc. grew its position in AdaptHealth by 22.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock worth $70,000 after buying an additional 1,279 shares during the period. Assetmark Inc. increased its holdings in AdaptHealth by 54.8% in the first quarter. Assetmark Inc. now owns 6,952 shares of the company’s stock valued at $83,000 after buying an additional 2,460 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in AdaptHealth by 318.0% in the second quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock valued at $90,000 after buying an additional 7,297 shares in the last quarter. Finally, Tidal Investments LLC acquired a new stake in shares of AdaptHealth during the 2nd quarter valued at approximately $96,000. Institutional investors and hedge funds own 82.67% of the company’s stock.

AdaptHealth Company Profile

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.