Royal Bank of Canada Has Lowered Expectations for AdaptHealth (NASDAQ:AHCO) Stock Price

AdaptHealth (NASDAQ:AHCO) had its price target decreased by research analysts at Royal Bank of Canada from $14.00 to $13.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 51.69% from the company’s previous close.

A number of other brokerages have also issued reports on AHCO. Canaccord Genuity Group upped their price objective on shares of AdaptHealth from $13.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. UBS Group reduced their price target on shares of AdaptHealth from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Robert W. Baird raised their target price on AdaptHealth from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Finally, Truist Financial upped their price target on AdaptHealth from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $13.60.

AdaptHealth Price Performance

AHCO stock opened at $8.57 on Thursday. AdaptHealth has a 1 year low of $7.11 and a 1 year high of $11.90. The firm has a market capitalization of $1.16 billion, a PE ratio of -5.19, a price-to-earnings-growth ratio of 1.08 and a beta of 1.64. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.00. The business has a 50 day simple moving average of $9.29 and a 200-day simple moving average of $9.74.

Hedge Funds Weigh In On AdaptHealth

A number of hedge funds and other institutional investors have recently bought and sold shares of AHCO. Assetmark Inc. purchased a new position in shares of AdaptHealth in the fourth quarter valued at approximately $28,000. Blue Trust Inc. boosted its holdings in AdaptHealth by 24.1% in the fourth quarter. Blue Trust Inc. now owns 5,746 shares of the company’s stock valued at $55,000 after purchasing an additional 1,115 shares during the period. GAMMA Investing LLC increased its holdings in AdaptHealth by 175.2% during the 1st quarter. GAMMA Investing LLC now owns 7,473 shares of the company’s stock worth $81,000 after purchasing an additional 4,758 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in AdaptHealth in the 1st quarter valued at about $114,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position 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 in the last quarter. 82.67% of the stock is currently owned by hedge funds and other 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.