AdaptHealth (NASDAQ:AHCO) Reaches New 12-Month Low at $10.21

Posted by on May 11th, 2023

AdaptHealth Corp. (NASDAQ:AHCO – Get Rating) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $10.21 and last traded at $11.59, with a volume of 1179744 shares trading hands. The stock had previously closed at $12.07.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. SVB Securities cut their price target on shares of AdaptHealth from $30.00 to $23.00 in a research report on Wednesday, March 1st. Stifel Nicolaus lowered shares of AdaptHealth from a “buy” rating to a “hold” rating and dropped their target price for the stock from $18.00 to $11.00 in a report on Tuesday. Truist Financial dropped their target price on shares of AdaptHealth from $20.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, April 13th. Robert W. Baird dropped their target price on shares of AdaptHealth from $23.00 to $20.00 in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lowered shares of AdaptHealth from a “buy” rating to a “hold” rating and dropped their target price for the stock from $28.00 to $11.30 in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.04.

AdaptHealth Stock Down 2.1 %

The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.00. The company’s fifty day simple moving average is $12.77 and its 200 day simple moving average is $18.16. The firm has a market capitalization of $1.49 billion, a PE ratio of 42.54, a price-to-earnings-growth ratio of 0.64 and a beta of 0.66.

AdaptHealth (NASDAQ:AHCO – Get Rating) last issued its quarterly earnings data on Monday, February 27th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.30). AdaptHealth had a return on equity of 3.34% and a net margin of 2.33%. The company had revenue of $780.28 million during the quarter, compared to analysts’ expectations of $787.96 million. Analysts anticipate that AdaptHealth Corp. will post 0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AdaptHealth

A number of institutional investors and hedge funds have recently made changes to their positions in AHCO. BlackRock Inc. increased its stake in shares of AdaptHealth by 122.7% during the third quarter. BlackRock Inc. now owns 11,922,007 shares of the company’s stock valued at $223,897,000 after purchasing an additional 6,568,394 shares in the last quarter. Truist Financial Corp increased its stake in shares of AdaptHealth by 834.2% during the fourth quarter. Truist Financial Corp now owns 3,940,239 shares of the company’s stock valued at $75,731,000 after purchasing an additional 3,518,459 shares in the last quarter. State Street Corp increased its stake in shares of AdaptHealth by 70.2% during the third quarter. State Street Corp now owns 2,738,342 shares of the company’s stock valued at $51,426,000 after purchasing an additional 1,129,895 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of AdaptHealth by 15.6% during the third quarter. Vanguard Group Inc. now owns 7,795,250 shares of the company’s stock valued at $146,396,000 after purchasing an additional 1,053,942 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of AdaptHealth by 208.0% during the fourth quarter. Bank of America Corp DE now owns 1,316,346 shares of the company’s stock valued at $25,300,000 after purchasing an additional 888,995 shares in the last quarter. Institutional investors own 86.33% of the company’s stock.

About AdaptHealth

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AdaptHealth Corp. engages in the provision of home healthcare equipment, supplies and related services. It focuses on sleep therapy equipment to individuals suffering from obstructive sleep apnea (OSA), home medical equipment to patients discharged from acute care and other facilities, oxygen and related chronic therapy services in the home, and HME medical devices and supplies on behalf of chronically ill patients with diabetes care, wound care, urological, ostomy, and nutritional supply needs.

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