AdaptHealth (NASDAQ:AHCO) Announces Earnings Results

AdaptHealth (NASDAQ:AHCO) announced its earnings results on Tuesday. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($1.10), FiscalAI reports. AdaptHealth had a return on equity of 4.85% and a net margin of 2.53%.The company had revenue of $846.29 million during the quarter, compared to analysts’ expectations of $832.51 million. During the same quarter last year, the firm posted $0.34 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis.

AdaptHealth Stock Down 0.5%

Shares of NASDAQ AHCO opened at $10.29 on Tuesday. The firm’s fifty day moving average is $10.27 and its 200 day moving average is $9.67. AdaptHealth has a 52 week low of $7.11 and a 52 week high of $11.63. The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 1.09. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 1.18 and a beta of 1.72.

Insiders Place Their Bets

In other AdaptHealth news, Director David Solomon Williams III sold 5,000 shares of the firm’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $9.43, for a total value of $47,150.00. Following the sale, the director owned 45,045 shares of the company’s stock, valued at $424,774.35. This trade represents a 9.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.55% of the stock is owned by insiders.

Institutional Investors Weigh In On AdaptHealth

Large investors have recently made changes to their positions in the business. Deerfield Management Company L.P. raised its holdings in AdaptHealth by 15.9% in the 3rd quarter. Deerfield Management Company L.P. now owns 11,477,730 shares of the company’s stock worth $102,726,000 after purchasing an additional 1,572,835 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of AdaptHealth by 15.6% during the third quarter. Dimensional Fund Advisors LP now owns 5,982,070 shares of the company’s stock valued at $53,537,000 after buying an additional 809,459 shares during the period. Iron Triangle Partners LP increased its position in shares of AdaptHealth by 35.6% during the fourth quarter. Iron Triangle Partners LP now owns 2,609,003 shares of the company’s stock valued at $25,986,000 after buying an additional 684,871 shares during the period. Lazard Asset Management LLC raised its stake in AdaptHealth by 1,246.3% in the second quarter. Lazard Asset Management LLC now owns 686,720 shares of the company’s stock worth $6,474,000 after buying an additional 635,713 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in AdaptHealth by 50.0% in the second quarter. Invesco Ltd. now owns 1,906,074 shares of the company’s stock worth $17,974,000 after buying an additional 634,973 shares during the period. 82.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Weiss Ratings upgraded AdaptHealth from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 30th. Canaccord Genuity Group increased their price target on shares of AdaptHealth from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Wall Street Zen downgraded shares of AdaptHealth from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Finally, Zacks Research raised shares of AdaptHealth from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 1st. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.25.

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.