AdaptHealth (NASDAQ:AHCO) Stock Price Down 6.1% – Should You Sell?

AdaptHealth Corp. (NASDAQ:AHCO) shares were down 6.1% on Monday . The company traded as low as $10.16 and last traded at $10.16. Approximately 1,330,353 shares changed hands during mid-day trading, an increase of 56% from the average daily volume of 851,935 shares. The stock had previously closed at $10.82.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Truist Financial reduced their price target on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Robert W. Baird reduced their price target on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Canaccord Genuity Group dropped their target price on shares of AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Royal Bank of Canada lowered their price target on AdaptHealth from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Finally, UBS Group decreased their target price on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $12.40.

AdaptHealth Stock Performance

The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -6.21, a PEG ratio of 1.38 and a beta of 1.09. The firm has a 50 day moving average price of $10.02 and a 200-day moving average price of $10.37. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.00.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The company had revenue of $805.90 million for the quarter, compared to analyst estimates of $809.32 million. AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 earnings per share. As a group, sell-side analysts expect that AdaptHealth Corp. will post 0.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AdaptHealth

Several hedge funds have recently made changes to their positions in AHCO. Blue Trust Inc. grew its stake in AdaptHealth by 24.1% during the 4th quarter. Blue Trust Inc. now owns 5,746 shares of the company’s stock worth $55,000 after buying an additional 1,115 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of AdaptHealth by 15.4% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,663 shares of the company’s stock worth $121,000 after buying an additional 1,690 shares during the period. Rhumbline Advisers increased its position in AdaptHealth by 0.5% in the 4th quarter. Rhumbline Advisers now owns 313,110 shares of the company’s stock valued at $2,981,000 after acquiring an additional 1,691 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of AdaptHealth by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,440 shares of the company’s stock valued at $394,000 after purchasing an additional 2,959 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its holdings in shares of AdaptHealth by 23.8% during the third quarter. Mutual of America Capital Management LLC now owns 15,893 shares of the company’s stock worth $178,000 after purchasing an additional 3,052 shares during the period. Hedge funds and other institutional investors 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.