Robert W. Baird Has Lowered Expectations for AdaptHealth (NASDAQ:AHCO) Stock Price

AdaptHealth (NASDAQ:AHCO) had its price objective dropped by Robert W. Baird from $10.00 to $9.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 52.28% from the company’s current price.

A number of other research firms also recently issued reports on AHCO. Jefferies Financial Group raised AdaptHealth from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $11.00 to $13.00 in a research note on Tuesday, July 21st. Truist Financial cut their target price on shares of AdaptHealth from $14.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. UBS Group cut 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. Wall Street Zen cut shares of AdaptHealth from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of AdaptHealth in a research note on Wednesday, August 19th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.14.

AdaptHealth Trading Up 1.5%

Shares of AdaptHealth stock opened at $5.91 on Thursday. AdaptHealth has a twelve month low of $5.21 and a twelve month high of $13.43. The company has a quick ratio of 0.98, a current ratio of 1.12 and a debt-to-equity ratio of 1.37. The business has a 50-day moving average price of $7.61 and a 200-day moving average price of $9.70. The firm has a market cap of $805.77 million, a price-to-earnings ratio of -3.46 and a beta of 1.39.

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

Insiders Place Their Bets

In related news, Director Kenneth Samet acquired 23,500 shares of AdaptHealth stock in a transaction on Thursday, August 6th. The shares were bought at an average cost of $6.38 per share, with a total value of $149,930.00. Following the completion of the purchase, the director directly owned 48,569 shares of the company’s stock, valued at $309,870.22. The trade was a 93.74% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.95% of the stock is owned by insiders.

Hedge Funds Weigh In On AdaptHealth

Institutional investors and hedge funds have recently modified their holdings of the stock. Corient Private Wealth LP increased its position in AdaptHealth by 259.0% during the second quarter. Corient Private Wealth LP now owns 224,099 shares of the company’s stock valued at $2,335,000 after acquiring an additional 161,677 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of AdaptHealth in the 2nd quarter worth about $966,000. Readystate Asset Management LP lifted its holdings in shares of AdaptHealth by 37.5% in the 2nd quarter. Readystate Asset Management LP now owns 278,882 shares of the company’s stock worth $2,906,000 after acquiring an additional 76,009 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of AdaptHealth during the 2nd quarter worth about $56,000. Finally, Paradigm Capital Management Inc. NY purchased a new position in shares of AdaptHealth during the 2nd quarter worth about $1,263,000. Hedge funds and other institutional investors own 82.67% of the company’s stock.

AdaptHealth Company Profile

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.