Royal Bank Of Canada Issues Positive Forecast for AdaptHealth (NASDAQ:AHCO) Stock Price

Key Points

• Royal Bank of Canada raised its price target on AdaptHealth to $15 from $13 and kept an outperform rating, implying about 31% upside from the prior close.
• Analyst sentiment is mixed but generally constructive: AdaptHealth has a Moderate Buy consensus with a consensus target price of $14.29, though some firms recently maintained hold or sell views.
• The company reported better-than-expected revenue of $819.8 million for its latest quarter but missed EPS estimates, posting a loss of $0.12 per share; shares were up 1.1% to $11.43 in Monday trading.

AdaptHealth (NASDAQ:AHCO - Get Free Report) had its price objective hoisted by investment analysts at Royal Bank Of Canada from $13.00 to $15.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target suggests a potential upside of 31.27% from the company's previous close.

A number of other research analysts also recently weighed in on the stock. Jefferies Financial Group reissued a "hold" rating and set a $11.00 target price on shares of AdaptHealth in a research report on Monday, April 20th. UBS Group reduced their target price on shares of AdaptHealth from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, May 6th. Weiss Ratings downgraded shares of AdaptHealth from a "hold (c-)" rating to a "sell (d)" rating in a research report on Wednesday, February 25th. Truist Financial increased their target price on shares of AdaptHealth from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Monday, April 13th. Finally, Robert W. Baird set a $18.00 target price on shares of AdaptHealth in a research report on Wednesday. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, AdaptHealth has a consensus rating of "Moderate Buy" and a consensus target price of $14.29.

AdaptHealth Stock Up 1.1%

Shares of AHCO traded up $0.13 on Monday, reaching $11.43. The company's stock had a trading volume of 214,542 shares, compared to its average volume of 1,325,268. The company has a current ratio of 0.92, a quick ratio of 0.71 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $1.55 billion, a PE ratio of -18.45, a PEG ratio of 0.51 and a beta of 1.57. AdaptHealth has a twelve month low of $8.06 and a twelve month high of $13.43. The firm has a fifty day moving average of $11.31 and a 200-day moving average of $10.41.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.13). AdaptHealth had a negative net margin of 2.42% and a positive return on equity of 2.76%. The firm had revenue of $819.80 million during the quarter, compared to analysts' expectations of $796.63 million. During the same quarter last year, the business posted ($0.05) EPS. The company's quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts predict that AdaptHealth will post 0.79 EPS for the current year.

Insider Buying and Selling

In other AdaptHealth news, major shareholder Richard M. Cashin, Jr. acquired 820,528 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average cost of $9.73 per share, with a total value of $7,983,737.44. Following the acquisition, the insider owned 14,638,708 shares in the company, valued at approximately $142,434,628.84. This represents a 5.94% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have purchased 2,494,518 shares of company stock valued at $24,352,291. 1.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its holdings in AdaptHealth by 8.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,920,973 shares of the company's stock worth $82,353,000 after buying an additional 518,274 shares during the period. Assetmark Inc. boosted its holdings in AdaptHealth by 54.8% in the 1st quarter. Assetmark Inc. now owns 6,952 shares of the company's stock valued at $83,000 after purchasing an additional 2,460 shares during the period. Bessemer Group Inc. boosted its holdings in AdaptHealth by 47.8% in the 1st quarter. Bessemer Group Inc. now owns 482,937 shares of the company's stock valued at $5,746,000 after purchasing an additional 156,095 shares during the period. Bastion Asset Management Inc. boosted its holdings in AdaptHealth by 4.9% in the 1st quarter. Bastion Asset Management Inc. now owns 555,764 shares of the company's stock valued at $6,157,000 after purchasing an additional 25,751 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in AdaptHealth in the 1st quarter valued at $120,000. 82.67% of the stock is owned by 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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