AdaptHealth (NASDAQ:AHCO) Trading Down 4.2% - What's Next?

Shares of AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) traded down 4.2% during mid-day trading on Thursday . The stock traded as low as $9.18 and last traded at $8.98. 800,430 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 1,319,694 shares. The stock had previously closed at $9.37.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AHCO shares. Truist Financial lowered their price objective on shares of AdaptHealth from $14.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Royal Bank Of Canada reduced their price objective on shares of AdaptHealth from $14.00 to $13.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AdaptHealth presently has an average rating of "Buy" and a consensus target price of $13.40.

AdaptHealth Stock Performance

The company has a market capitalization of $1.21 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 1.09 and a beta of 1.63. The firm's fifty day simple moving average is $8.81 and its 200 day simple moving average is $9.45. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.29 and a quick ratio of 1.07.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. raised its stake in AdaptHealth by 6.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 32,797 shares of the company's stock worth $356,000 after purchasing an additional 2,081 shares during the period. Janus Henderson Group PLC grew its holdings in AdaptHealth by 42.9% during the 4th quarter. Janus Henderson Group PLC now owns 38,298 shares of the company's stock worth $364,000 after acquiring an additional 11,500 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in AdaptHealth in the fourth quarter valued at $229,000. Proficio Capital Partners LLC acquired a new stake in shares of AdaptHealth during the 4th quarter worth about $181,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of AdaptHealth in the 1st quarter valued at $854,000. Institutional investors and hedge funds 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.

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