AdaptHealth Corp. (NASDAQ:AHCO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of AdaptHealth Corp. (NASDAQ:AHCO) have earned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $14.2857.

AHCO has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AdaptHealth in a report on Friday, May 22nd. Leerink Partners lowered their target price on shares of AdaptHealth from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. Canaccord Genuity Group raised their price objective on shares of AdaptHealth from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Truist Financial lifted their target price on shares of AdaptHealth from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Finally, UBS Group decreased their target price on shares of AdaptHealth from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th.

AdaptHealth Trading Up 1.7%

NASDAQ:AHCO opened at $10.10 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.92 and a quick ratio of 0.71. The firm has a 50-day moving average of $11.37 and a 200-day moving average of $10.58. The company has a market cap of $1.37 billion, a PE ratio of -16.29, a PEG ratio of 0.50 and a beta of 1.47. AdaptHealth has a one year low of $8.06 and a one year high of $13.43.

AdaptHealth (NASDAQ:AHCO) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.13). AdaptHealth had a positive return on equity of 2.76% and a negative net margin of 2.42%.The firm had revenue of $819.80 million during the quarter, compared to the consensus estimate of $796.63 million. During the same period in the previous year, the company posted ($0.05) earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities research analysts expect that AdaptHealth will post 0.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other AdaptHealth news, major shareholder Richard M. Cashin, Jr. acquired 447,100 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average price of $9.91 per share, with a total value of $4,430,761.00. Following the completion of the purchase, the insider directly owned 16,312,698 shares of the company’s stock, valued at approximately $161,658,837.18. The trade was a 2.82% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Russell E. Schuster III sold 11,275 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $10.06, for a total value of $113,426.50. Following the transaction, the insider owned 136,538 shares of the company’s stock, valued at $1,373,572.28. The trade was a 7.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AHCO. Rockefeller Capital Management L.P. increased its stake in shares of AdaptHealth by 433.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company’s stock worth $26,000 after purchasing an additional 2,100 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of AdaptHealth during the third quarter worth $35,000. PNC Financial Services Group Inc. lifted its position in AdaptHealth by 22.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock valued at $70,000 after purchasing an additional 1,279 shares during the last quarter. Assetmark Inc. lifted its position in AdaptHealth by 54.8% during the first quarter. Assetmark Inc. now owns 6,952 shares of the company’s stock valued at $83,000 after purchasing an additional 2,460 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in AdaptHealth by 318.0% during the second quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock valued at $90,000 after purchasing an additional 7,297 shares during the last quarter. 82.67% of the stock is owned by hedge funds and other institutional investors.

AdaptHealth Company Profile

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.