AdaptHealth (NASDAQ:AHCO) Stock Rating Upgraded by Wall Street Zen

AdaptHealth (NASDAQ:AHCO) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other brokerages also recently commented on AHCO. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AdaptHealth in a research note on Wednesday, August 19th. Robert W. Baird dropped their price target on shares of AdaptHealth from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Thursday, September 17th. Truist Financial cut their price target on shares of AdaptHealth from $14.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Jefferies Financial Group raised shares of AdaptHealth from a “hold” rating to a “buy” rating and lifted their price target for the company from $11.00 to $13.00 in a research report on Tuesday, July 21st. Finally, Leerink Partners upped their price objective on AdaptHealth from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Thursday. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.43.

AdaptHealth Price Performance

Shares of NASDAQ:AHCO opened at $7.33 on Friday. AdaptHealth has a 52-week low of $5.21 and a 52-week high of $13.43. The stock has a market cap of $999.37 million, a P/E ratio of -2.44 and a beta of 1.36. The business has a fifty day moving average of $6.00 and a two-hundred day moving average of $9.07. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.53.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.05) by ($1.08). The company had revenue of $745.65 million for the quarter, compared to analysts’ expectations of $725.87 million. AdaptHealth had a negative return on equity of 0.27% and a negative net margin of 12.90%. The firm’s revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS.

Institutional Trading of AdaptHealth

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AHCO. Dimensional Fund Advisors LP boosted its position in shares of AdaptHealth by 8.1% during the first quarter. Dimensional Fund Advisors LP now owns 6,920,973 shares of the company’s stock worth $82,353,000 after buying an additional 518,274 shares during the period. Principal Financial Group Inc. grew its stake in shares of AdaptHealth by 25.1% in the first quarter. Principal Financial Group Inc. now owns 2,784,316 shares of the company’s stock valued at $33,133,000 after buying an additional 558,357 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of AdaptHealth by 35.0% in the first quarter. Lazard Asset Management LLC now owns 1,669,454 shares of the company’s stock valued at $19,867,000 after buying an additional 432,664 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of AdaptHealth by 87.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 847,085 shares of the company’s stock valued at $10,080,000 after buying an additional 395,668 shares during the period. Finally, Empowered Funds LLC raised its holdings in shares of AdaptHealth by 1.4% in the 1st quarter. Empowered Funds LLC now owns 622,904 shares of the company’s stock valued at $7,413,000 after buying an additional 8,602 shares during the period. Hedge funds and other institutional investors own 82.67% of the company’s stock.

About AdaptHealth

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.