AdaptHealth (NASDAQ:AHCO) Stock Price Down 6.1%

AdaptHealth Corp. (NASDAQ:AHCO) was down 6.1% during trading on Tuesday . The stock traded as low as $9.97 and last traded at $9.98. Approximately 341,562 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 1,067,606 shares. The stock had previously closed at $10.63.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of AdaptHealth in a research note on Monday, August 12th. Truist Financial reaffirmed a “buy” rating and issued a $13.00 price target on shares of AdaptHealth in a research note on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $10.70.

AdaptHealth Stock Performance

The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -1.91, a P/E/G ratio of 0.76 and a beta of 1.10. The company has a 50-day moving average price of $10.42 and a 200-day moving average price of $10.00. The company has a quick ratio of 1.11, a current ratio of 1.33 and a debt-to-equity ratio of 1.48.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). AdaptHealth had a negative net margin of 21.45% and a positive return on equity of 8.47%. The company had revenue of $805.98 million for the quarter, compared to analysts’ expectations of $802.62 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. As a group, equities research analysts forecast that AdaptHealth Corp. will post 0.82 earnings per share for the current year.

Institutional Investors Weigh In On AdaptHealth

Several institutional investors and hedge funds have recently added to or reduced their stakes in AHCO. Raymond James & Associates lifted its holdings in shares of AdaptHealth by 42.9% during the 4th quarter. Raymond James & Associates now owns 15,785 shares of the company’s stock worth $115,000 after acquiring an additional 4,740 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in AdaptHealth by 30.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 43,065 shares of the company’s stock valued at $314,000 after acquiring an additional 10,162 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in AdaptHealth during the fourth quarter valued at approximately $298,000. Strs Ohio lifted its holdings in shares of AdaptHealth by 19.2% in the 4th quarter. Strs Ohio now owns 79,400 shares of the company’s stock worth $578,000 after acquiring an additional 12,800 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in AdaptHealth by 11.1% during the 4th quarter. Mackenzie Financial Corp now owns 23,760 shares of the company’s stock valued at $173,000 after buying an additional 2,376 shares during the last quarter. 82.67% of the stock is owned by 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.