AdaptHealth (NASDAQ:AHCO) Reaches New 52-Week Low – What’s Next?

AdaptHealth Corp. (NASDAQ:AHCO) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $5.39 and last traded at $5.3150, with a volume of 354138 shares trading hands. The stock had previously closed at $5.69.

Wall Street Analyst Weigh In

A number of research firms have commented on AHCO. Canaccord Genuity Group set a $10.00 target price on shares of AdaptHealth in a research report on Wednesday. UBS Group lowered their price target on AdaptHealth from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday. Robert W. Baird set a $10.00 price objective on AdaptHealth in a report on Wednesday. Wall Street Zen cut AdaptHealth from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Jefferies Financial Group raised AdaptHealth from a “hold” rating to a “buy” rating and increased their target price for the company from $11.00 to $13.00 in a report on Tuesday, July 21st. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $10.29.

AdaptHealth Price Performance

The company has a market capitalization of $743.84 million, a P/E ratio of -3.19, a price-to-earnings-growth ratio of 0.29 and a beta of 1.47. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.12 and a quick ratio of 0.98. The firm’s 50-day moving average is $9.96 and its 200-day moving average is $10.55.

Insider Buying and Selling at AdaptHealth

In other news, insider Russell E. Schuster III sold 11,275 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $10.06, for a total transaction of $113,426.50. Following the completion of the sale, the insider owned 136,538 shares of the company’s stock, valued at $1,373,572.28. The trade was a 7.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AdaptHealth

A number of institutional investors have recently bought and sold shares of the stock. Handelsbanken Fonder AB purchased a new position in AdaptHealth during the second quarter valued at $226,000. Empowered Funds LLC grew its holdings in AdaptHealth by 1.4% during the first quarter. Empowered Funds LLC now owns 622,904 shares of the company’s stock valued at $7,413,000 after purchasing an additional 8,602 shares during the period. Quantinno Capital Management LP increased its position in AdaptHealth by 140.0% in the first quarter. Quantinno Capital Management LP now owns 109,694 shares of the company’s stock worth $1,305,000 after buying an additional 63,992 shares in the last quarter. Lazard Asset Management LLC increased its position in AdaptHealth by 35.0% in the first quarter. Lazard Asset Management LLC now owns 1,669,454 shares of the company’s stock worth $19,867,000 after buying an additional 432,664 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in AdaptHealth by 10.1% in the first quarter. Renaissance Technologies LLC now owns 228,373 shares of the company’s stock worth $2,718,000 after buying an additional 21,000 shares in the last quarter. 82.67% of the stock is owned by institutional investors.

AdaptHealth Company Profile

AdaptHealth, Inc operates as a leading provider of home medical equipment (HME) and related services in the United States. The company focuses on delivering respiratory care, mobility solutions and bathroom safety products to patients with chronic and acute medical needs. Through its comprehensive service offerings, AdaptHealth aims to enhance quality of life and clinical outcomes for patients who require long-term support outside of a hospital setting.

The company’s respiratory portfolio includes products such as continuous positive airway pressure (CPAP) devices, oxygen concentrators, ventilators, and associated supplies for patients with sleep apnea, COPD and other pulmonary conditions.