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

AdaptHealth (NASDAQ:AHCO) had its target price reduced by Robert W. Baird from $10.00 to $9.00 in a report issued on Thursday morning, Marketbeat reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other research firms also recently issued reports on AHCO. UBS Group decreased their price target on shares of AdaptHealth from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Royal Bank Of Canada reduced their target price on AdaptHealth from $15.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Wall Street Zen lowered AdaptHealth from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. Canaccord Genuity Group set a $10.00 target price on AdaptHealth in a research note on Wednesday, August 5th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of AdaptHealth in a research report on Wednesday, August 19th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.14.

AdaptHealth Stock Down 0.9%

AHCO opened at $5.71 on Thursday. The company has a market cap of $778.50 million, a P/E ratio of -3.34 and a beta of 1.39. The business’s 50-day moving average price is $7.43 and its 200-day moving average price is $9.65. The company has a current ratio of 1.12, a quick ratio of 0.98 and a debt-to-equity ratio of 1.37. AdaptHealth has a 12 month low of $5.21 and a 12 month high of $13.43.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly 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 negative net margin of 7.07% and a positive return on equity of 3.36%. The firm had revenue of $740.31 million for the quarter, compared to the consensus estimate of $846.77 million. During the same quarter in the prior year, the company earned $0.10 earnings per share. The company’s quarterly revenue was down 7.5% compared to the same quarter last year.

Insider Transactions at AdaptHealth

In other news, Director Kenneth Samet acquired 23,500 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 48,569 shares of the company’s stock, valued at $309,870.22. This trade represents a 93.74% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AdaptHealth

Hedge funds have recently added to or reduced their stakes in the stock. Reinhart Partners LLC. increased its holdings in AdaptHealth by 10.6% during the fourth quarter. Reinhart Partners LLC. now owns 8,100,785 shares of the company’s stock valued at $80,684,000 after buying an additional 773,727 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of AdaptHealth by 25.1% during the 1st quarter. Principal Financial Group Inc. now owns 2,784,316 shares of the company’s stock worth $33,133,000 after acquiring an additional 558,357 shares during the last quarter. 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. Lazard Asset Management LLC grew its position in shares of AdaptHealth by 35.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,669,454 shares of the company’s stock valued at $19,867,000 after acquiring an additional 432,664 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of 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 in the last quarter. 82.67% of the stock is currently owned by hedge funds and other 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.