AdaptHealth Corp. (NASDAQ:AHCO) Given Average Rating of “Moderate Buy” by Brokerages

AdaptHealth Corp. (NASDAQ:AHCO) has been given an average recommendation of “Moderate Buy” by the six analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $13.25.

AHCO has been the subject of several analyst reports. Wall Street Zen downgraded shares of AdaptHealth from a “buy” rating to a “hold” rating in a research note on Saturday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $13.00 target price on shares of AdaptHealth in a research report on Wednesday. Zacks Research upgraded AdaptHealth from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Weiss Ratings cut AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a research note on Wednesday. Finally, Leerink Partners cut their price objective on AdaptHealth from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Thursday.

AdaptHealth Price Performance

Shares of AHCO opened at $9.15 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 1.15. The stock has a market cap of $1.24 billion, a PE ratio of -16.64, a PEG ratio of 1.13 and a beta of 1.76. AdaptHealth has a 12-month low of $7.11 and a 12-month high of $11.53. The business has a 50-day simple moving average of $10.17 and a two-hundred day simple moving average of $9.66.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of $0.34 by ($1.10). The firm had revenue of $846.29 million for the quarter, compared to the consensus estimate of $832.51 million. AdaptHealth had a positive return on equity of 3.42% and a negative net margin of 2.18%.The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 earnings per share. Analysts anticipate that AdaptHealth will post 0.88 earnings per share for the current fiscal year.

Insider Activity at AdaptHealth

In other news, Director David Solomon Williams III sold 5,000 shares of the company’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 directly owned 45,045 shares of the company’s stock, valued at approximately $424,774.35. This represents a 9.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.55% of the company’s stock.

Hedge Funds Weigh In On AdaptHealth

Several hedge funds and other institutional investors have recently bought and sold shares of AHCO. PNC Financial Services Group Inc. grew its holdings in AdaptHealth by 22.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock worth $70,000 after acquiring an additional 1,279 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of AdaptHealth by 6.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,095 shares of the company’s stock valued at $256,000 after purchasing an additional 1,671 shares in the last quarter. MetLife Investment Management LLC grew its stake in AdaptHealth by 3.1% during the fourth quarter. MetLife Investment Management LLC now owns 57,364 shares of the company’s stock worth $571,000 after purchasing an additional 1,749 shares during the period. Corient Private Wealth LLC increased its holdings in AdaptHealth by 8.6% in the fourth quarter. Corient Private Wealth LLC now owns 22,562 shares of the company’s stock worth $227,000 after purchasing an additional 1,794 shares in the last quarter. Finally, CWM LLC increased its holdings in AdaptHealth by 17.5% in the third quarter. CWM LLC now owns 12,306 shares of the company’s stock worth $110,000 after purchasing an additional 1,835 shares in the last quarter. Institutional investors and hedge funds own 82.67% of the company’s stock.

About AdaptHealth

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.