AdaptHealth (NASDAQ:AHCO) Shares Up 3.4% - Still a Buy?

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) shares traded up 3.4% during mid-day trading on Wednesday . The company traded as high as $10.43 and last traded at $10.38. 218,281 shares traded hands during trading, a decline of 63% from the average session volume of 583,790 shares. The stock had previously closed at $10.04.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. UBS Group reduced their target price on AdaptHealth from $13.00 to $12.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. Robert W. Baird reduced their price objective on shares of AdaptHealth from $16.00 to $14.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 6th. Royal Bank of Canada lowered their target price on shares of AdaptHealth from $13.00 to $11.00 and set an "outperform" rating for the company in a research note on Tuesday, November 19th. Truist Financial cut their price target on shares of AdaptHealth from $13.00 to $12.00 and set a "buy" rating on the stock in a research report on Friday, November 15th. Finally, Canaccord Genuity Group lowered their price objective on AdaptHealth from $14.00 to $13.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $11.67.

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 firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -6.12, a PEG ratio of 1.36 and a beta of 1.09. The business's fifty day simple moving average is $9.87 and its 200 day simple moving average is $10.33.

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

Hedge Funds Weigh In On AdaptHealth

A number of large investors have recently modified their holdings of AHCO. JPMorgan Chase & Co. increased its stake in AdaptHealth by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 191,833 shares of the company's stock valued at $2,154,000 after purchasing an additional 81,097 shares in the last quarter. Principal Financial Group Inc. grew its holdings 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 last quarter. Franklin Resources Inc. increased its position in shares of AdaptHealth by 20.2% during the third quarter. Franklin Resources Inc. now owns 65,601 shares of the company's stock worth $737,000 after acquiring an additional 11,037 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of AdaptHealth by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,451,173 shares of the company's stock worth $27,532,000 after acquiring an additional 265,712 shares during the last quarter. Finally, Barclays PLC lifted its position in AdaptHealth by 361.3% in the 3rd quarter. Barclays PLC now owns 181,240 shares of the company's stock valued at $2,034,000 after acquiring an additional 141,949 shares in the last quarter. 82.67% of the stock is currently owned by institutional investors.

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.