Royal Bank of Canada Issues Pessimistic Forecast for AdaptHealth (NASDAQ:AHCO) Stock Price

AdaptHealth (NASDAQ:AHCO - Get Free Report) had its target price reduced by stock analysts at Royal Bank of Canada from $13.00 to $11.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank of Canada's price objective points to a potential upside of 12.94% from the stock's previous close.

A number of other equities research analysts also recently issued reports on the stock. UBS Group reduced their price objective on shares of AdaptHealth from $13.00 to $12.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Robert W. Baird reduced their target price on AdaptHealth from $16.00 to $14.00 and set an "outperform" rating for the company in a report on Wednesday, November 6th. Truist Financial dropped their price target on AdaptHealth from $13.00 to $12.00 and set a "buy" rating on the stock in a report on Friday. Finally, Canaccord Genuity Group cut their price objective on AdaptHealth from $14.00 to $13.00 and set a "buy" rating on the stock 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $11.67.

AdaptHealth Stock Up 1.8 %

NASDAQ AHCO traded up $0.17 during trading hours on Tuesday, hitting $9.74. The company's stock had a trading volume of 672,029 shares, compared to its average volume of 1,068,419. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 1.34. The company's 50-day simple moving average is $10.56 and its two-hundred day simple moving average is $10.45. The company has a market capitalization of $1.31 billion, a PE ratio of -5.90, a price-to-earnings-growth ratio of 1.34 and a beta of 1.11. AdaptHealth has a 52 week low of $6.43 and a 52 week high of $11.90.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share 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 negative net margin of 6.57% and a positive return on equity of 9.62%. The firm's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 EPS. Research analysts anticipate that AdaptHealth will post 0.89 EPS for the current fiscal year.

Insider Buying and Selling at AdaptHealth

In other AdaptHealth news, COO Shaw Rietkerk sold 25,000 shares of the business's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.24, for a total transaction of $281,000.00. Following the sale, the chief operating officer now owns 212,611 shares of the company's stock, valued at $2,389,747.64. The trade was a 10.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David Solomon Williams III sold 4,000 shares of the 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 sale, the director now owns 36,899 shares in the company, valued at approximately $415,482.74. This represents a 9.78 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.43% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd boosted its position in shares of AdaptHealth by 279.6% in 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 purchased a new position in shares of AdaptHealth during the 2nd quarter valued at $58,000. Quarry LP increased its holdings in shares of AdaptHealth by 4,596.9% in the third quarter. Quarry LP now owns 5,965 shares of the company's stock worth $67,000 after purchasing an additional 5,838 shares during the period. Blue Trust Inc. purchased a new stake in shares of AdaptHealth in the second quarter worth $85,000. Finally, Innealta Capital LLC bought a new stake in AdaptHealth during the second quarter valued at $101,000. Hedge funds and other institutional investors 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.