AdaptHealth Corp. (NASDAQ:AHCO) Receives $10.29 Consensus PT from Brokerages

AdaptHealth Corp. (NASDAQ:AHCO) has been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $10.2857.

A number of brokerages have recently weighed in on AHCO. Wall Street Zen lowered AdaptHealth from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. Robert W. Baird set a $10.00 target price on AdaptHealth in a report on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AdaptHealth in a research note on Wednesday. Canaccord Genuity Group set a $10.00 price target on AdaptHealth in a research note on Wednesday, August 5th. Finally, Jefferies Financial Group upgraded 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 report on Tuesday, July 21st.

AdaptHealth Stock Performance

AdaptHealth stock opened at $5.63 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.98 and a debt-to-equity ratio of 1.37. The firm has a market cap of $767.62 million, a P/E ratio of -3.29, a P/E/G ratio of 0.29 and a beta of 1.47. AdaptHealth has a 1-year low of $5.21 and a 1-year high of $13.43. The firm has a 50-day moving average of $9.12 and a 200-day moving average of $10.24.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($1.16). The business had revenue of $740.31 million for the quarter, compared to analysts’ expectations of $846.77 million. AdaptHealth had a negative net margin of 7.07% and a positive return on equity of 3.36%. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 EPS. Sell-side analysts expect that AdaptHealth will post 0.44 EPS for the current year.

Insider Activity

In related news, insider Russell E. Schuster III sold 11,275 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $10.06, for a total transaction of $113,426.50. Following the transaction, the insider owned 136,538 shares in the company, valued at $1,373,572.28. The trade was a 7.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth A. Samet purchased 23,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was bought at an average cost of $6.38 per share, with a total value of $149,930.00. Following the completion of the purchase, the director owned 48,569 shares of the company’s stock, valued at $309,870.22. This represents a 93.74% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.95% of the company’s stock.

Institutional Trading of AdaptHealth

Several large investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. raised its position in shares of AdaptHealth by 433.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company’s stock worth $26,000 after acquiring an additional 2,100 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of AdaptHealth in the 2nd quarter valued at approximately $56,000. PNC Financial Services Group Inc. boosted its position in shares of 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 in the last quarter. Assetmark Inc. boosted its position in shares of 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 in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in AdaptHealth by 318.0% in the second quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock worth $90,000 after purchasing an additional 7,297 shares during the period. 82.67% of the stock is owned by 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.