AdaptHealth (NASDAQ:AHCO) Shares Gap Up - Here's What Happened

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $8.55, but opened at $9.70. AdaptHealth shares last traded at $10.84, with a volume of 1,773,668 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AHCO. Canaccord Genuity Group boosted 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 Wednesday. Robert W. Baird boosted their price objective on shares of AdaptHealth from $14.00 to $16.00 and gave the company an "outperform" rating in a research report on Thursday. Royal Bank of Canada boosted their price objective on shares of AdaptHealth from $11.00 to $14.00 and gave the company an "outperform" rating in a research report on Wednesday. UBS Group dropped their price target on shares of AdaptHealth from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Finally, Truist Financial upped their price target on shares of AdaptHealth from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Wednesday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $13.80.

AdaptHealth Stock Up 2.6 %

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 firm's 50-day moving average is $9.92 and its 200 day moving average is $10.23. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -6.90, a price-to-earnings-growth ratio of 1.08 and a beta of 1.12.

Hedge Funds Weigh In On AdaptHealth

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. increased its position 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 acquiring an additional 1,115 shares in the last quarter. Guggenheim Capital LLC increased its position in shares of AdaptHealth by 10.1% in the fourth quarter. Guggenheim Capital LLC now owns 16,613 shares of the company's stock worth $158,000 after acquiring an additional 1,525 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of AdaptHealth by 5.2% in the fourth quarter. Sterling Capital Management LLC now owns 33,558 shares of the company's stock worth $319,000 after acquiring an additional 1,644 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of AdaptHealth by 15.4% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,663 shares of the company's stock worth $121,000 after acquiring an additional 1,690 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of AdaptHealth by 0.5% in the fourth quarter. Rhumbline Advisers now owns 313,110 shares of the company's stock worth $2,981,000 after acquiring an additional 1,691 shares in the last quarter. Institutional investors and hedge funds own 82.67% of the company's stock.

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.