AdaptHealth (NASDAQ:AHCO) Hits New 1-Year High – Still a Buy?

AdaptHealth Corp. (NASDAQ:AHCO) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $11.85 and last traded at $11.7040, with a volume of 777761 shares. The stock had previously closed at $11.29.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AHCO shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $13.00 target price on shares of AdaptHealth in a research note on Wednesday, February 25th. Wall Street Zen cut AdaptHealth from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Zacks Research raised AdaptHealth from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Weiss Ratings downgraded shares of AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday, February 25th. Finally, Leerink Partners decreased their target price on shares of AdaptHealth from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.25.

AdaptHealth Price Performance

The business has a 50-day simple moving average of $10.17 and a two-hundred day simple moving average of $9.79. 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 capitalization of $1.61 billion, a price-to-earnings ratio of -21.58, a P/E/G ratio of 1.29 and a beta of 1.76.

AdaptHealth (NASDAQ:AHCO) last issued its quarterly earnings results on Tuesday, February 24th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($1.10). AdaptHealth had a negative net margin of 2.18% and a positive return on equity of 3.42%. The firm had revenue of $846.29 million for the quarter, compared to the consensus estimate of $832.51 million. During the same period in the previous year, the business posted $0.34 earnings per share. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, research analysts predict that AdaptHealth Corp. will post 0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Richard M. Cashin, Jr. bought 820,528 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were purchased at an average cost of $9.73 per share, with a total value of $7,983,737.44. Following the completion of the acquisition, the insider directly owned 14,638,708 shares in the company, valued at approximately $142,434,628.84. The trade was a 5.94% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought a total of 2,494,518 shares of company stock worth $24,352,291 over the last ninety days. Company insiders own 1.55% of the company’s stock.

Hedge Funds Weigh In On AdaptHealth

Several large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of AdaptHealth by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,495 shares of the company’s stock worth $656,000 after purchasing an additional 2,564 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in AdaptHealth by 32.4% during the first quarter. Goldman Sachs Group Inc. now owns 571,232 shares of the company’s stock worth $6,192,000 after buying an additional 139,828 shares in the last quarter. Woodline Partners LP acquired a new position in AdaptHealth in the first quarter worth approximately $2,851,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of AdaptHealth by 18.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,780 shares of the company’s stock valued at $2,534,000 after buying an additional 35,879 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of AdaptHealth by 1.3% in the second quarter. JPMorgan Chase & Co. now owns 211,769 shares of the company’s stock valued at $1,997,000 after buying an additional 2,718 shares in the last quarter. Institutional investors 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.