AdaptHealth (NASDAQ:AHCO) Shares Down 5% – Here’s What Happened

AdaptHealth Corp. (NASDAQ:AHCO)’s stock price fell 5% during mid-day trading on Tuesday . The company traded as low as $9.54 and last traded at $9.54. 166,630 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 1,053,112 shares. The stock had previously closed at $10.04.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AHCO shares. Royal Bank of Canada lowered their target price on AdaptHealth from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Robert W. Baird dropped their price objective on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. UBS Group decreased their target price on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Canaccord Genuity Group dropped their price target on AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Truist Financial decreased their price objective on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, AdaptHealth currently has an average rating of “Moderate Buy” and an average target price of $11.67.

AdaptHealth Stock Down 6.0 %

The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. The stock’s 50 day moving average is $10.36 and its two-hundred day moving average is $10.47.

AdaptHealth (NASDAQ:AHCO) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.02). The business had revenue of $805.90 million for the quarter, compared to analysts’ expectations of $809.32 million. AdaptHealth had a negative net margin of 6.57% and a positive return on equity of 9.62%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 earnings per share. Analysts predict that AdaptHealth Corp. will post 0.88 earnings per share for the current fiscal year.

Insider Transactions at AdaptHealth

In other AdaptHealth news, COO Shaw Rietkerk sold 25,000 shares of AdaptHealth stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.24, for a total value of $281,000.00. Following the transaction, the chief operating officer now directly owns 212,611 shares of the company’s stock, valued at approximately $2,389,747.64. The trade was a 10.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.43% of the company’s stock.

Hedge Funds Weigh In On AdaptHealth

Hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its holdings in shares of AdaptHealth by 8.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 57,874 shares of the company’s stock valued at $667,000 after buying an additional 4,575 shares during the last quarter. Boston Partners purchased a new stake in AdaptHealth in the first quarter valued at $693,000. Harbor Capital Advisors Inc. grew its position in AdaptHealth by 289.9% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 185,230 shares of the company’s stock worth $1,852,000 after purchasing an additional 137,727 shares during the period. Reinhart Partners LLC. raised its stake in shares of AdaptHealth by 1.4% during the 2nd quarter. Reinhart Partners LLC. now owns 4,269,303 shares of the company’s stock valued at $42,693,000 after buying an additional 59,092 shares during the last quarter. Finally, Blue Trust Inc. acquired a new position in shares of AdaptHealth in the 2nd quarter valued at about $85,000. 82.67% of the stock is 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.