Truist Financial Has Lowered Expectations for AdaptHealth (NASDAQ:AHCO) Stock Price

AdaptHealth (NASDAQ:AHCO - Free Report) had its target price trimmed by Truist Financial from $13.00 to $12.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the stock. Canaccord Genuity Group cut their price target 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. Robert W. Baird reduced their price target on AdaptHealth from $16.00 to $14.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. UBS Group lowered their price objective on AdaptHealth from $13.00 to $12.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $13.00 target price on shares of AdaptHealth in a report on Monday, August 12th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $12.00.

AdaptHealth Stock Down 4.0 %

Shares of AdaptHealth stock traded down $0.40 on Friday, hitting $9.64. 793,365 shares of the company traded hands, compared to its average volume of 1,071,743. AdaptHealth has a 12-month low of $6.43 and a 12-month high of $11.90. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. The company has a market cap of $1.30 billion, a PE ratio of -5.99, a PEG ratio of 1.47 and a beta of 1.11. The company has a 50-day moving average price of $10.64 and a 200 day moving average price of $10.46.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.02). The firm had revenue of $805.90 million during the quarter, compared to analyst estimates of $809.32 million. AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The business's revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 earnings per share. Sell-side analysts predict that AdaptHealth will post 0.89 earnings per share for the current year.

Insider Activity at AdaptHealth

In other AdaptHealth news, COO Shaw Rietkerk sold 25,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief operating officer now owns 212,611 shares in the company, valued at approximately $2,389,747.64. This trade represents a 10.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Solomon Williams III sold 4,000 shares of the firm's 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 transaction, the director now directly owns 36,899 shares of the company's stock, valued at approximately $415,482.74. This trade represents a 9.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AdaptHealth

A number of institutional investors have recently added to or reduced their stakes in AHCO. Covestor Ltd lifted its holdings in shares of AdaptHealth by 279.6% during the first quarter. Covestor Ltd now owns 3,109 shares of the company's stock valued at $36,000 after acquiring an additional 2,290 shares during the period. Canada Pension Plan Investment Board acquired a new position in AdaptHealth in the second quarter valued at about $58,000. Quarry LP grew its stake in AdaptHealth by 4,596.9% during the third quarter. Quarry LP now owns 5,965 shares of the company's stock worth $67,000 after buying an additional 5,838 shares during the last quarter. Blue Trust Inc. bought a new position in shares of AdaptHealth in the second quarter valued at approximately $85,000. Finally, Innealta Capital LLC acquired a new position in shares of AdaptHealth in the 2nd quarter worth approximately $101,000. 82.67% of the stock is owned by institutional investors and hedge funds.

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.