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

AdaptHealth (NASDAQ:AHCO) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other research analysts also recently weighed in on the company. Leerink Partners lowered their target price on AdaptHealth from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Thursday. Zacks Research raised AdaptHealth from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Canaccord Genuity Group boosted their price objective on shares of AdaptHealth from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Royal Bank Of Canada restated an “outperform” rating and set a $13.00 price objective on shares of AdaptHealth in a research report on Wednesday. Finally, Weiss Ratings downgraded shares of AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, AdaptHealth presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.25.

AdaptHealth Stock Performance

Shares of AHCO opened at $9.15 on Friday. The company’s 50 day simple moving average is $10.17 and its 200-day simple moving average is $9.66. The firm has a market cap of $1.24 billion, a PE ratio of -16.64, a price-to-earnings-growth 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 company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 1.15.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate 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 business had revenue of $846.29 million during the quarter, compared to analysts’ expectations of $832.51 million. During the same quarter last year, the company earned $0.34 EPS. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, equities analysts predict that AdaptHealth will post 0.88 EPS for the current year.

Insider Activity at AdaptHealth

In related news, Director David Solomon Williams III sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was 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 in the company, valued at $424,774.35. This represents a 9.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.55% of the stock is owned by company insiders.

Institutional Trading of AdaptHealth

Institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC purchased a new position in AdaptHealth during the 3rd quarter valued at about $35,000. AlphaQuest LLC increased its position in AdaptHealth by 275.7% during the second quarter. AlphaQuest LLC now owns 3,941 shares of the company’s stock worth $37,000 after buying an additional 2,892 shares in the last quarter. Assetmark Inc. raised its holdings in shares of AdaptHealth by 87.6% in the second quarter. Assetmark Inc. now owns 5,529 shares of the company’s stock worth $52,000 after acquiring an additional 2,581 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of AdaptHealth by 22.3% in the fourth 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 last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of AdaptHealth by 318.0% in the second quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock valued at $90,000 after acquiring an additional 7,297 shares in the last quarter. 82.67% of the stock is currently owned by hedge funds and other institutional investors.

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.