AdaptHealth (NASDAQ:AHCO) Shares Down 2.8% – What’s Next?

Shares of AdaptHealth Corp. (NASDAQ:AHCO) fell 2.8% on Monday . The stock traded as low as $8.49 and last traded at $8.42. 70,784 shares were traded during mid-day trading, a decline of 94% from the average session volume of 1,210,940 shares. The stock had previously closed at $8.66.

Wall Street Analysts Forecast Growth

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

AdaptHealth Stock Down 5.1 %

The firm has a market cap of $1.11 billion, a P/E ratio of -4.98, a P/E/G ratio of 1.08 and a beta of 1.44. The firm’s fifty day moving average is $9.86 and its 200 day moving average is $10.07. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.00 and a current ratio of 1.24.

Hedge Funds Weigh In On AdaptHealth

Institutional investors and hedge funds have recently made changes to their positions in the company. Reinhart Partners LLC. boosted its stake in AdaptHealth by 15.5% in the 1st quarter. Reinhart Partners LLC. now owns 7,236,262 shares of the company’s stock valued at $78,441,000 after purchasing an additional 969,408 shares during the period. GAMMA Investing LLC boosted its position in shares of AdaptHealth by 2,883.7% in the first quarter. GAMMA Investing LLC now owns 81,007 shares of the company’s stock valued at $878,000 after acquiring an additional 78,292 shares during the period. Moody National Bank Trust Division grew its stake in shares of AdaptHealth by 6.3% in the first quarter. Moody National Bank Trust Division now owns 160,759 shares of the company’s stock valued at $1,743,000 after acquiring an additional 9,589 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of AdaptHealth by 111.8% in the fourth quarter. Mackenzie Financial Corp now owns 81,583 shares of the company’s stock valued at $777,000 after acquiring an additional 43,059 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in AdaptHealth by 21.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 197,901 shares of the company’s stock worth $1,884,000 after acquiring an additional 35,431 shares during the period. Institutional investors and hedge funds own 82.67% of the company’s stock.

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.