Robert W. Baird Cuts AdaptHealth (NASDAQ:AHCO) Price Target to $9.00

Key Points

• Robert W. Baird lowered AdaptHealth’s price target from $10 to $9 while maintaining an “outperform” rating, implying approximately 52% upside from the stock’s $5.91 price.
• Analyst sentiment remains broadly positive, with seven Buy ratings, one Hold and one Sell; the consensus target is $10.14. However, AdaptHealth recently missed quarterly estimates, reporting a $0.99 loss per share versus expectations for $0.17 earnings and revenue below forecasts.
• Director Kenneth Samet purchased 23,500 shares for about $150,000, while institutional investors own 82.67% of the company’s stock.

AdaptHealth (NASDAQ:AHCO - Get Free Report) had its price objective decreased by equities research analysts at Robert W. Baird from $10.00 to $9.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Robert W. Baird's target price would indicate a potential upside of 52.28% from the stock's current price.

Several other brokerages have also recently issued reports on AHCO. UBS Group decreased their target price on shares of AdaptHealth from $14.00 to $10.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Canaccord Genuity Group set a $10.00 price target on shares of AdaptHealth in a report on Wednesday, August 5th. Royal Bank Of Canada reduced their price target on shares of AdaptHealth from $15.00 to $8.00 and set an "outperform" rating for the company in a research report on Thursday, August 6th. Wall Street Zen cut AdaptHealth from a "hold" rating to a "sell" rating in a research report on Sunday, August 16th. Finally, Jefferies Financial Group upgraded AdaptHealth from a "hold" rating to a "buy" rating and increased their target price for the company from $11.00 to $13.00 in a research note on Tuesday, July 21st. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $10.14.

AdaptHealth Trading Up 1.5%

AdaptHealth stock opened at $5.91 on Thursday. AdaptHealth has a 12 month low of $5.21 and a 12 month high of $13.43. The company has a current ratio of 1.12, a quick ratio of 0.98 and a debt-to-equity ratio of 1.37. The business's fifty day simple moving average is $7.61 and its two-hundred day simple moving average is $9.70. The company has a market capitalization of $805.77 million, a price-to-earnings ratio of -3.46 and a beta of 1.39.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($1.16). The company had revenue of $740.31 million during the quarter, compared to analysts' expectations of $846.77 million. AdaptHealth had a positive return on equity of 3.36% and a negative net margin of 7.07%.AdaptHealth's revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 EPS.

Insider Transactions at AdaptHealth

In related news, Director Kenneth Samet purchased 23,500 shares of AdaptHealth stock in a transaction on Thursday, August 6th. The stock was acquired at an average price of $6.38 per share, for a total transaction of $149,930.00. Following the completion of the transaction, the director directly owned 48,569 shares in the company, valued at $309,870.22. This represents a 93.74% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.95% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in shares of AdaptHealth by 8.1% in the first quarter. Dimensional Fund Advisors LP now owns 6,920,973 shares of the company's stock worth $82,353,000 after purchasing an additional 518,274 shares during the period. Reinhart Partners LLC. boosted its stake in AdaptHealth by 10.6% in the 4th quarter. Reinhart Partners LLC. now owns 8,100,785 shares of the company's stock worth $80,684,000 after purchasing an additional 773,727 shares during the period. Principal Financial Group Inc. grew its holdings in AdaptHealth by 25.1% during the 1st quarter. Principal Financial Group Inc. now owns 2,784,316 shares of the company's stock valued at $33,133,000 after buying an additional 558,357 shares in the last quarter. Kennedy Capital Management LLC raised its position in shares of AdaptHealth by 15.2% during the fourth quarter. Kennedy Capital Management LLC now owns 2,408,038 shares of the company's stock valued at $23,984,000 after buying an additional 317,900 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of AdaptHealth by 35.0% during the first quarter. Lazard Asset Management LLC now owns 1,669,454 shares of the company's stock valued at $19,867,000 after buying an additional 432,664 shares during the last quarter. 82.67% of the stock is currently owned by institutional investors.

About AdaptHealth

AdaptHealth Corp. NASDAQ: AHCO is a provider of home medical equipment, medical supplies and related healthcare services in the United States. The company supports patients who require ongoing care outside of traditional healthcare facilities and works with physicians, hospitals, insurers and other referral sources to coordinate equipment delivery, setup and clinical support.

AdaptHealth's offerings include respiratory equipment such as oxygen systems, ventilators and continuous positive airway pressure (CPAP) devices; diabetes supplies; sleep therapy products; mobility equipment; wheelchairs; wound-care products; and other home medical equipment and disposable supplies.

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