AdaptHealth (NASDAQ:AHCO) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

AdaptHealth (NASDAQ:AHCO) had its price target hoisted by equities research analysts at Canaccord Genuity Group from $14.00 to $15.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 57.89% from the stock’s current price.

Several other research firms have also recently commented on AHCO. Weiss Ratings restated a “sell (d+)” rating on shares of AdaptHealth in a report on Wednesday, October 8th. Wall Street Zen raised AdaptHealth from a “buy” rating to a “strong-buy” rating in a research report on Sunday, October 19th. Finally, Zacks Research downgraded AdaptHealth from a “hold” rating to a “strong sell” rating in a research note on Friday, September 19th. Five investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, AdaptHealth currently has a consensus rating of “Hold” and a consensus target price of $13.60.

AdaptHealth Stock Performance

AHCO stock opened at $9.50 on Thursday. The stock has a market cap of $1.29 billion, a P/E ratio of 17.27, a P/E/G ratio of 1.28 and a beta of 1.72. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.82 and a current ratio of 1.08. The firm has a 50 day simple moving average of $9.20 and a 200 day simple moving average of $9.08. AdaptHealth has a 52 week low of $7.11 and a 52 week high of $11.63.

Insider Buying and Selling

In other AdaptHealth news, Director David Solomon Williams III sold 8,200 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $9.73, for a total transaction of $79,786.00. Following the transaction, the director directly owned 50,045 shares in the company, valued at $486,937.85. This trade represents a 14.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. AlphaQuest LLC raised its stake in shares of AdaptHealth by 275.7% in the 2nd quarter. AlphaQuest LLC now owns 3,941 shares of the company’s stock valued at $37,000 after acquiring an additional 2,892 shares in the last quarter. Assetmark Inc. grew its holdings in AdaptHealth by 87.6% during the second quarter. Assetmark Inc. now owns 5,529 shares of the company’s stock valued at $52,000 after purchasing an additional 2,581 shares during the last quarter. Brooklyn Investment Group raised its position in shares of AdaptHealth by 531.8% in the first quarter. Brooklyn Investment Group now owns 7,563 shares of the company’s stock valued at $82,000 after purchasing an additional 6,366 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of AdaptHealth by 318.0% in the second quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock worth $90,000 after buying an additional 7,297 shares during the last quarter. Finally, Tidal Investments LLC acquired a new stake in shares of AdaptHealth in the second quarter worth $96,000. Institutional investors and hedge funds own 82.67% of the company’s stock.

AdaptHealth Company Profile

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.