Canaccord Genuity Group Raises AdaptHealth (NASDAQ:AHCO) Price Target to $14.00

AdaptHealth (NASDAQ:AHCO) had its target price increased by Canaccord Genuity Group from $13.00 to $14.00 in a report published on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the company. 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. Truist Financial raised their price objective on AdaptHealth from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday. Robert W. Baird dropped their price objective on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, UBS Group dropped their price objective on AdaptHealth from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, AdaptHealth currently has a consensus rating of “Buy” and an average target price of $13.80.

AdaptHealth Stock Performance

Shares of AdaptHealth stock opened at $11.38 on Wednesday. The firm has a market cap of $1.53 billion, a P/E ratio of -6.90, a P/E/G ratio of 1.08 and a beta of 1.12. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 1.34. AdaptHealth has a 12 month low of $8.35 and a 12 month high of $11.90. The stock’s fifty day moving average price is $9.92 and its 200-day moving average price is $10.23.

Institutional Investors Weigh In On AdaptHealth

Several institutional investors have recently added to or reduced their stakes in AHCO. Louisiana State Employees Retirement System boosted its holdings in AdaptHealth by 30.0% in the third quarter. Louisiana State Employees Retirement System now owns 51,100 shares of the company’s stock worth $574,000 after acquiring an additional 11,800 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of AdaptHealth by 31.5% in the third quarter. State of Alaska Department of Revenue now owns 60,304 shares of the company’s stock worth $677,000 after purchasing an additional 14,438 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of AdaptHealth by 142.9% in the third quarter. Harbor Capital Advisors Inc. now owns 449,840 shares of the company’s stock worth $5,052,000 after purchasing an additional 264,610 shares during the last quarter. Amalgamated Bank raised its stake in shares of AdaptHealth by 26.7% in the third quarter. Amalgamated Bank now owns 30,916 shares of the company’s stock worth $347,000 after purchasing an additional 6,524 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of AdaptHealth by 39.7% in the third quarter. Principal Financial Group Inc. now owns 543,744 shares of the company’s stock worth $6,106,000 after purchasing an additional 154,434 shares during 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.