Leerink Partners Issues Positive Forecast for AdaptHealth (NASDAQ:AHCO) Stock Price

Key Points

• Leerink Partners raised AdaptHealth’s price target from $7 to $8 and maintained an “outperform” rating, implying 7.96% upside from the prior close.
• Analyst views are mixed, but the overall consensus is “Moderate Buy,” with an average price target of $9.43.
• AdaptHealth reported a quarterly loss of $1.13 per share, missing estimates, while revenue of $745.65 million topped expectations but fell 9.1% year over year.

AdaptHealth (NASDAQ:AHCO - Get Free Report) had its price target lifted by equities researchers at Leerink Partners from $7.00 to $8.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Leerink Partners's price objective indicates a potential upside of 7.96% from the company's previous close.

Several other equities research analysts also recently issued reports on the company. Truist Financial dropped their target price on AdaptHealth from $14.00 to $9.00 and set a "buy" rating on the stock in a research report on Wednesday, August 5th. Robert W. Baird reduced their price target on AdaptHealth from $10.00 to $9.00 and set an "outperform" rating for the company in a research report on Thursday, September 17th. Weiss Ratings reiterated a "sell (d)" rating on shares of AdaptHealth in a research note on Wednesday, August 19th. Wall Street Zen lowered AdaptHealth from a "hold" rating to a "sell" rating in a research note on Sunday, August 16th. Finally, Royal Bank Of Canada dropped their price objective on AdaptHealth from $15.00 to $8.00 and set an "outperform" rating on the stock in a report on Thursday, August 6th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $9.43.

AdaptHealth Stock Performance

Shares of AHCO stock traded up $0.10 during trading on Thursday, hitting $7.41. The company's stock had a trading volume of 4,622,133 shares, compared to its average volume of 1,952,923. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.53. The company has a market cap of $1.01 billion, a PE ratio of -2.47 and a beta of 1.36. The business has a fifty day moving average of $5.94 and a 200-day moving average of $9.10. AdaptHealth has a 52 week low of $5.21 and a 52 week high of $13.43.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported ($1.13) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($1.08). The business had revenue of $745.65 million for the quarter, compared to the consensus estimate of $725.87 million. AdaptHealth had a negative return on equity of 0.27% and a negative net margin of 12.90%. The business's revenue was down 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 earnings per share.

Institutional Investors Weigh In On AdaptHealth

A number of large investors have recently added to or reduced their stakes in AHCO. Dimensional Fund Advisors LP grew its position in shares of AdaptHealth by 8.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,920,973 shares of the company's stock valued at $82,353,000 after acquiring an additional 518,274 shares during the period. Principal Financial Group Inc. increased its stake in shares of AdaptHealth by 25.1% in the 1st quarter. Principal Financial Group Inc. now owns 2,784,316 shares of the company's stock worth $33,133,000 after purchasing an additional 558,357 shares in the last quarter. Lazard Asset Management LLC raised its holdings in AdaptHealth by 35.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,669,454 shares of the company's stock worth $19,867,000 after purchasing an additional 432,664 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in AdaptHealth by 87.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 847,085 shares of the company's stock worth $10,080,000 after purchasing an additional 395,668 shares during the period. Finally, Empowered Funds LLC lifted its position in AdaptHealth by 1.4% during the first quarter. Empowered Funds LLC now owns 622,904 shares of the company's stock valued at $7,413,000 after purchasing an additional 8,602 shares in the last quarter. Institutional investors own 82.67% of the company's stock.

About AdaptHealth

AdaptHealth Corp. NASDAQ: AHCO is a provider of home medical equipment, supplies and related healthcare services in the United States. The company helps patients manage chronic conditions and recover from illness or injury outside of traditional healthcare facilities, working with individuals, caregivers, physicians and payers.

Its products and services include respiratory equipment and supplies, oxygen therapy, sleep therapy devices such as continuous positive airway pressure systems, diabetes management products, mobility and accessibility equipment, and other durable medical equipment.

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