AdaptHealth (NASDAQ:AHCO) Shares Down 11.2%

AdaptHealth Corp. (NASDAQ:AHCO) shares dropped 11.2% on Tuesday . The company traded as low as $9.74 and last traded at $9.74. Approximately 170,877 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 1,036,001 shares. The stock had previously closed at $10.97.

Wall Street Analysts Forecast Growth

Separately, Truist Financial reiterated a “buy” rating and set a $13.00 price objective on shares of AdaptHealth in a research report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $10.70.

AdaptHealth Trading Down 20.4 %

The company has a quick ratio of 1.11, a current ratio of 1.33 and a debt-to-equity ratio of 1.48. The business’s fifty day moving average is $10.60 and its 200 day moving average is $9.80. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -1.74, a price-to-earnings-growth ratio of 0.76 and a beta of 1.10.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). The business had revenue of $792.50 million during the quarter, compared to the consensus estimate of $771.08 million. AdaptHealth had a negative net margin of 21.45% and a positive return on equity of 8.47%. Equities analysts predict that AdaptHealth Corp. will post 0.82 earnings per share for the current year.

Hedge Funds Weigh In On AdaptHealth

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in shares of AdaptHealth by 197.1% in the 1st quarter. GAMMA Investing LLC now owns 2,537 shares of the company’s stock valued at $29,000 after purchasing an additional 1,683 shares during the last quarter. Covestor Ltd raised its holdings 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 purchasing an additional 2,290 shares during the last quarter. Blue Trust Inc. purchased a new stake in shares of AdaptHealth in the second quarter valued at about $85,000. Innealta Capital LLC bought a new position in shares of AdaptHealth during the 2nd quarter valued at approximately $101,000. Finally, Everence Capital Management Inc. purchased a new stake in AdaptHealth in the fourth quarter worth $102,000. 82.67% of the stock is currently owned by institutional investors and hedge funds.

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.