AdaptHealth (NASDAQ:AHCO) Shares Down 5.8% – Time to Sell?

Shares of AdaptHealth Corp. (NASDAQ:AHCO) were down 5.8% on Wednesday . The stock traded as low as $9.60 and last traded at $9.53. Approximately 378,448 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 1,109,735 shares. The stock had previously closed at $10.12.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AHCO shares. Royal Bank of Canada lifted their price objective on AdaptHealth from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Truist Financial lifted their price objective on AdaptHealth from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Robert W. Baird lifted their price objective on AdaptHealth from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. UBS Group lowered their price objective on AdaptHealth from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Canaccord Genuity Group raised their target price on AdaptHealth from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $13.80.

AdaptHealth Price Performance

The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -5.82, a P/E/G ratio of 1.08 and a beta of 1.30. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.00 and a current ratio of 1.24. The business has a 50 day simple moving average of $10.02 and a 200-day simple moving average of $10.24.

Hedge Funds Weigh In On AdaptHealth

A number of hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in AdaptHealth by 24.1% during the 4th quarter. Blue Trust Inc. now owns 5,746 shares of the company’s stock valued at $55,000 after purchasing an additional 1,115 shares during the last quarter. Guggenheim Capital LLC lifted its position in shares of AdaptHealth by 10.1% during the 4th quarter. Guggenheim Capital LLC now owns 16,613 shares of the company’s stock worth $158,000 after buying an additional 1,525 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of AdaptHealth by 5.2% during the 4th quarter. Sterling Capital Management LLC now owns 33,558 shares of the company’s stock worth $319,000 after buying an additional 1,644 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of AdaptHealth by 15.4% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,663 shares of the company’s stock worth $121,000 after buying an additional 1,690 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of AdaptHealth by 0.5% during the 4th quarter. Rhumbline Advisers now owns 313,110 shares of the company’s stock worth $2,981,000 after buying an additional 1,691 shares in the last quarter. Institutional investors and hedge funds own 82.67% of the company’s stock.

About AdaptHealth

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.