AdaptHealth (NASDAQ:AHCO) Shares Gap Up – Should You Buy?

AdaptHealth Corp. (NASDAQ:AHCO)’s share price gapped up before the market opened on Tuesday. The stock had previously closed at $5.91, but opened at $6.24. AdaptHealth shares last traded at $6.0150, with a volume of 1,351,901 shares.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Weiss Ratings restated a “sell (d)” rating on shares of AdaptHealth in a research report on Wednesday, August 19th. Jefferies Financial Group upgraded shares of AdaptHealth from a “hold” rating to a “buy” rating and boosted their price objective for the company from $11.00 to $13.00 in a research report on Tuesday, July 21st. Truist Financial cut their target price on AdaptHealth from $14.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Robert W. Baird reduced their target price on AdaptHealth from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, September 17th. Finally, Wall Street Zen downgraded AdaptHealth from a “hold” rating to a “sell” rating in a report on Sunday, August 16th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $10.14.

AdaptHealth Stock Performance

The stock has a market cap of $828.27 million, a price-to-earnings ratio of -3.55 and a beta of 1.42. The company has a quick ratio of 0.98, a current ratio of 1.12 and a debt-to-equity ratio of 1.37. The company has a 50 day simple moving average of $5.89 and a 200 day simple moving average of $9.14.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported ($1.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($1.08). The company had revenue of $745.65 million during the quarter, compared to analyst estimates of $725.87 million. AdaptHealth had a negative net margin of 7.07% and a positive return on equity of 3.36%. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.16 earnings per share.

Insider Buying and Selling

In related news, Director Kenneth Samet acquired 23,500 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average price of $6.38 per share, with a total value of $149,930.00. Following the purchase, the director directly owned 48,569 shares in the company, valued at approximately $309,870.22. This trade represents a 93.74% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.95% of the stock is currently owned by insiders.

Institutional Trading of AdaptHealth

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its holdings in shares of AdaptHealth by 25.1% during the first quarter. Principal Financial Group Inc. now owns 2,784,316 shares of the company’s stock worth $33,133,000 after buying an additional 558,357 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 in the last quarter. Lazard Asset Management LLC boosted its holdings 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 in the last quarter. Arrowstreet Capital Limited Partnership grew its position in AdaptHealth by 87.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 847,085 shares of the company’s stock worth $10,080,000 after acquiring an additional 395,668 shares during the last quarter. Finally, Corient Private Wealth LP grew its position in AdaptHealth by 259.0% during the 2nd quarter. Corient Private Wealth LP now owns 224,099 shares of the company’s stock worth $2,335,000 after acquiring an additional 161,677 shares during the last quarter. Institutional investors own 82.67% of the company’s stock.

AdaptHealth Company Profile

AdaptHealth Corp. (NASDAQ: AHCO) is a provider of home medical equipment, supplies and related healthcare services in the United States. The company helps patients manage chronic conditions and recover from illness or injury outside of traditional healthcare facilities, working with individuals, caregivers, physicians and payers.

Its products and services include respiratory equipment and supplies, oxygen therapy, sleep therapy devices such as continuous positive airway pressure systems, diabetes management products, mobility and accessibility equipment, and other durable medical equipment.