AdaptHealth (NASDAQ:AHCO) Shares Down 5.8% – Time to Sell?

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

Analyst Upgrades and Downgrades

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

AdaptHealth Stock Down 0.1 %

The firm has a 50 day simple moving average of $10.02 and a 200-day simple moving average of $10.24. 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 has a market cap of $1.29 billion, a P/E ratio of -5.82, a price-to-earnings-growth ratio of 1.08 and a beta of 1.30.

Hedge Funds Weigh In On AdaptHealth

Several institutional investors and hedge funds have recently made changes to their positions in AHCO. Amalgamated Bank grew its position in shares of AdaptHealth by 26.7% in the third quarter. Amalgamated Bank now owns 30,916 shares of the company’s stock valued at $347,000 after purchasing an additional 6,524 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of AdaptHealth by 39.7% in the third quarter. Principal Financial Group Inc. now owns 543,744 shares of the company’s stock valued at $6,106,000 after purchasing an additional 154,434 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of AdaptHealth by 727.4% in the third quarter. Victory Capital Management Inc. now owns 141,507 shares of the company’s stock valued at $1,589,000 after purchasing an additional 124,404 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of AdaptHealth by 33.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 27,814 shares of the company’s stock valued at $312,000 after purchasing an additional 7,031 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new position in shares of AdaptHealth in the third quarter valued at approximately $122,000. Institutional investors and hedge funds own 82.67% of the company’s stock.

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.