AdaptHealth (NASDAQ:AHCO) Trading Down 2.8% - What's Next?

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report)'s share price traded down 2.8% during mid-day trading on Monday . The stock traded as low as $8.49 and last traded at $8.42. 70,784 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 1,210,940 shares. The stock had previously closed at $8.66.

Wall Street Analysts Forecast Growth

AHCO has been the subject of a number of analyst reports. Truist Financial increased their price objective on shares of AdaptHealth from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Royal Bank of Canada raised their price objective on AdaptHealth from $11.00 to $14.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Robert W. Baird boosted their target price on AdaptHealth from $14.00 to $16.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Canaccord Genuity Group raised their price target on AdaptHealth from $13.00 to $14.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Finally, UBS Group decreased their price objective on AdaptHealth from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $13.80.

AdaptHealth Trading Down 0.4 %

The company's 50 day simple moving average is $9.70 and its 200-day simple moving average is $9.97. The firm has a market cap of $1.05 billion, a P/E ratio of -4.72, a P/E/G ratio of 1.08 and a beta of 1.44. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 1.34.

Institutional Trading of AdaptHealth

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC increased its holdings in AdaptHealth by 361.3% during the 3rd quarter. Barclays PLC now owns 181,240 shares of the company's stock worth $2,034,000 after purchasing an additional 141,949 shares during the period. Principal Financial Group Inc. increased its stake in shares of AdaptHealth by 39.7% during the third quarter. Principal Financial Group Inc. now owns 543,744 shares of the company's stock valued at $6,106,000 after buying an additional 154,434 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of AdaptHealth by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 191,833 shares of the company's stock valued at $2,154,000 after acquiring an additional 81,097 shares in the last quarter. Reinhart Partners LLC. grew its holdings in AdaptHealth by 1.1% during the 4th quarter. Reinhart Partners LLC. now owns 6,266,854 shares of the company's stock worth $59,660,000 after acquiring an additional 68,212 shares in the last quarter. Finally, State Street Corp increased its position in AdaptHealth by 19.8% during the 3rd quarter. State Street Corp now owns 4,124,284 shares of the company's stock valued at $46,316,000 after purchasing an additional 681,816 shares during the period. 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.