AdaptHealth (NASDAQ:AHCO) Trading Down 5.8% – Here’s What Happened

AdaptHealth Corp. (NASDAQ:AHCO) shares were down 5.8% during mid-day trading on Wednesday . The company traded as low as $9.60 and last traded at $9.53. Approximately 378,448 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 1,109,735 shares. The stock had previously closed at $10.12.

Wall Street Analyst Weigh In

Several analysts recently commented on AHCO shares. UBS Group reduced their price objective on shares of AdaptHealth from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Robert W. Baird lifted their price target on shares of AdaptHealth from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Truist Financial upped their price target on AdaptHealth from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Canaccord Genuity Group raised their price objective on AdaptHealth from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada boosted their target price on AdaptHealth from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $13.80.

AdaptHealth Stock Down 6.4 %

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 price is $10.02 and its 200 day moving average price is $10.25. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -5.74, a price-to-earnings-growth ratio of 1.08 and a beta of 1.30.

Institutional Trading of AdaptHealth

Institutional investors and hedge funds have recently made changes to their positions in the stock. Assetmark Inc. acquired a new position in AdaptHealth in the 4th quarter valued at about $28,000. Blue Trust Inc. increased its holdings in shares of AdaptHealth by 24.1% during the 4th 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 increased its stake in AdaptHealth by 4,596.9% during the third quarter. Quarry LP now owns 5,965 shares of the company’s stock worth $67,000 after acquiring an additional 5,838 shares during the last quarter. CIBC Asset Management Inc purchased a new position in AdaptHealth in the third quarter valued at approximately $122,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of AdaptHealth by 15.4% in the 4th 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 acquiring an additional 1,690 shares during the period. 82.67% of the stock is currently owned by hedge funds and other institutional investors.

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.