AdaptHealth (NASDAQ:AHCO) Shares Down 6.1% - What's Next?

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report)'s stock price dropped 6.1% on Monday . The stock traded as low as $10.16 and last traded at $10.16. Approximately 1,330,353 shares traded hands during trading, an increase of 56% from the average daily volume of 851,935 shares. The stock had previously closed at $10.82.

Analyst Upgrades and Downgrades

AHCO has been the subject of several recent analyst reports. Truist Financial lowered their price target on AdaptHealth from $13.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, November 15th. Canaccord Genuity Group dropped their target price on shares of AdaptHealth from $14.00 to $13.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Robert W. Baird cut their price target on shares of AdaptHealth from $16.00 to $14.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. UBS Group decreased their price objective on shares of AdaptHealth from $13.00 to $12.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Finally, Royal Bank of Canada cut their target price on AdaptHealth from $13.00 to $11.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 19th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $12.40.

AdaptHealth Price Performance

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's 50 day moving average price is $10.02 and its 200 day moving average price is $10.36. The stock has a market capitalization of $1.26 billion, a P/E ratio of -5.65, a price-to-earnings-growth ratio of 1.38 and a beta of 1.12.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.02). The company had revenue of $805.90 million during the quarter, compared to the consensus estimate of $809.32 million. AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The company's revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the firm posted $0.19 EPS. Sell-side analysts forecast that AdaptHealth Corp. will post 0.88 EPS for the current year.

Institutional Trading of AdaptHealth

A number of hedge funds have recently bought and sold shares of AHCO. Assetmark Inc. bought a new stake in shares of AdaptHealth during the 4th quarter valued at about $28,000. Blue Trust Inc. boosted its holdings in shares of AdaptHealth by 24.1% in the fourth quarter. Blue Trust Inc. now owns 5,746 shares of the company's stock worth $55,000 after buying an additional 1,115 shares during the last quarter. Quarry LP grew its position in AdaptHealth by 4,596.9% during the third 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. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in AdaptHealth by 15.4% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,663 shares of the company's stock valued at $121,000 after buying an additional 1,690 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in AdaptHealth in the third quarter worth approximately $122,000. 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.