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AdaptHealth (NASDAQ:AHCO) Trading Up 8.7% - Here's What Happened

AdaptHealth logo with Medical background

Key Points

  • AdaptHealth (NASDAQ: AHCO) shares surged 8.7%, reaching a last trading price of $9.91, despite a significant decline in trading volume compared to its average.
  • Recent analyst reports show Truist Financial and Royal Bank of Canada both lowered their price targets to $13.00, maintaining "buy" and "outperform" ratings, respectively.
  • Approximately 82.67% of AdaptHealth's stock is owned by institutional investors, highlighting strong interest from major investment entities.
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AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report)'s share price was up 8.7% during mid-day trading on Tuesday . The company traded as high as $9.89 and last traded at $9.91. Approximately 796,754 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 1,444,356 shares. The stock had previously closed at $9.11.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AHCO shares. Royal Bank Of Canada cut their target price on shares of AdaptHealth from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Truist Financial dropped their price objective on shares of AdaptHealth from $14.00 to $13.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Finally, Wall Street Zen upgraded shares of AdaptHealth from a "hold" rating to a "buy" rating in a research note on Saturday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $13.40.

View Our Latest Report on AdaptHealth

AdaptHealth Trading Down 1.0%

The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 0.89 and a beta of 1.58. The firm's 50 day moving average is $9.09 and its two-hundred day moving average is $9.31. The company has a quick ratio of 1.07, a current ratio of 1.06 and a debt-to-equity ratio of 1.14.

Institutional Investors Weigh In On AdaptHealth

Several large investors have recently made changes to their positions in the company. Reinhart Partners LLC. increased its stake in shares of AdaptHealth by 1.1% in the second quarter. Reinhart Partners LLC. now owns 7,312,626 shares of the company's stock valued at $68,958,000 after purchasing an additional 76,364 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of AdaptHealth by 17.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,379,715 shares of the company's stock valued at $32,174,000 after purchasing an additional 505,180 shares during the period. Palisade Capital Management LP increased its stake in shares of AdaptHealth by 12.3% in the first quarter. Palisade Capital Management LP now owns 2,711,142 shares of the company's stock valued at $29,389,000 after purchasing an additional 297,268 shares during the period. Geode Capital Management LLC increased its stake in shares of AdaptHealth by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,467,769 shares of the company's stock valued at $23,499,000 after purchasing an additional 16,596 shares during the period. Finally, Iron Triangle Partners LP acquired a new stake in shares of AdaptHealth in the first quarter valued at approximately $17,496,000. Institutional investors and hedge funds own 82.67% of the company's stock.

About AdaptHealth

(Get Free Report)

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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