AdaptHealth (NASDAQ:AHCO) Shares Gap Up – Time to Buy?

Shares of AdaptHealth Corp. (NASDAQ:AHCO) gapped up prior to trading on Tuesday . The stock had previously closed at $8.55, but opened at $9.70. AdaptHealth shares last traded at $10.84, with a volume of 1,773,668 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities 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 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 on the stock in a report on Wednesday, November 6th. Truist Financial decreased their price objective on AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a report on Friday, November 15th. Canaccord Genuity Group cut their target price on AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, UBS Group lowered their target price on shares of AdaptHealth from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, AdaptHealth presently has an average rating of “Buy” and an average target price of $12.20.

AdaptHealth Trading Up 24.2 %

The firm has a market capitalization of $1.43 billion, a P/E ratio of -6.48, a price-to-earnings-growth ratio of 1.08 and a beta of 1.12. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.00 and a current ratio of 1.24. The firm has a 50 day moving average price of $9.83 and a two-hundred day moving average price of $10.19.

Institutional Trading of AdaptHealth

Several large investors have recently added to or reduced their stakes in the company. Assetmark Inc. purchased a new stake in shares of AdaptHealth during the fourth quarter worth $28,000. Blue Trust Inc. lifted its holdings in shares of AdaptHealth by 24.1% during the 4th quarter. Blue Trust Inc. now owns 5,746 shares of the company’s stock valued at $55,000 after buying an additional 1,115 shares during the last quarter. Quarry LP grew its stake in shares of AdaptHealth by 4,596.9% in the 3rd quarter. Quarry LP now owns 5,965 shares of the company’s stock valued at $67,000 after buying an additional 5,838 shares in the last quarter. CIBC Asset Management Inc bought a new position in AdaptHealth during the third quarter valued at approximately $122,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in AdaptHealth by 15.4% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,663 shares of the company’s stock valued at $121,000 after acquiring an additional 1,690 shares during the last quarter. 82.67% of the stock is owned by institutional investors and hedge funds.

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.