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

Key Points

• AdaptHealth shares hit a new 52-week low, trading as low as $5.39 and closing around $5.32, down 3.8% from the prior close.
• Analyst views remain mixed: Truist cut its price target to $9 while maintaining a Buy rating, and the consensus target is $10.29 with an overall “Moderate Buy” rating.
• Institutional investors own 82.67% of the company, while an insider recently sold 11,275 shares under a pre-arranged trading plan; the stock has a market capitalization of roughly $744 million.

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) shares reached 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. The stock had previously closed at $5.69.

Analysts Set New Price Targets

Several equities analysts have commented on AHCO shares. Truist Financial lowered their price objective on AdaptHealth from $14.00 to $9.00 and set a "buy" rating for the company in a research report on Wednesday. Wall Street Zen lowered shares of AdaptHealth from a "buy" rating to a "hold" rating in a research note on Saturday. Weiss Ratings reissued a "sell (d)" rating on shares of AdaptHealth in a research report on Friday, May 22nd. Jefferies Financial Group raised shares of AdaptHealth from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $11.00 to $13.00 in a research note on Tuesday, July 21st. Finally, Robert W. Baird set a $10.00 price objective on shares of AdaptHealth in a research note on Wednesday. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, AdaptHealth has an average rating of "Moderate Buy" and a consensus target price of $10.29.

AdaptHealth Stock Down 3.8%

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 stock has a 50 day simple moving average of $9.96 and a 200-day simple moving average of $10.55. The firm has a market cap of $743.84 million, a PE ratio of -3.19, a PEG ratio of 0.29 and a beta of 1.47.

Insider Buying and Selling at AdaptHealth

In other news, insider Russell E. Schuster III sold 11,275 shares of AdaptHealth stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $10.06, for a total value of $113,426.50. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.95% of the stock is owned by insiders.

Institutional Trading of AdaptHealth

Institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of AdaptHealth by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,495 shares of the company's stock valued at $656,000 after buying an additional 2,564 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in AdaptHealth by 32.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 571,232 shares of the company's stock valued at $6,192,000 after acquiring an additional 139,828 shares in the last quarter. Woodline Partners LP purchased a new stake in AdaptHealth during the 1st quarter valued at $2,851,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in AdaptHealth by 18.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,780 shares of the company's stock valued at $2,534,000 after purchasing an additional 35,879 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of AdaptHealth by 1.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 211,769 shares of the company's stock worth $1,997,000 after purchasing an additional 2,718 shares in the last quarter. 82.67% of the stock is owned by hedge funds and other 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.

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