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

AdaptHealth Corp. (NASDAQ:AHCO) has received an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $10.1429.

Several research analysts recently issued reports on AHCO shares. Weiss Ratings reiterated a “sell (d)” rating on shares of AdaptHealth in a research note on Wednesday, August 19th. Canaccord Genuity Group set a $10.00 price objective on shares of AdaptHealth in a research note on Wednesday, August 5th. UBS Group cut their price objective on shares of AdaptHealth from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Royal Bank Of Canada decreased their target price on shares of AdaptHealth from $15.00 to $8.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Finally, Truist Financial lowered their target price 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.

Insider Buying and Selling at AdaptHealth

In related news, Director Kenneth Samet acquired 23,500 shares of AdaptHealth stock in a transaction that occurred on Thursday, August 6th. The stock was bought at an average price of $6.38 per share, with a total value of $149,930.00. Following the transaction, the director directly owned 48,569 shares in the company, valued at approximately $309,870.22. This represents a 93.74% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AHCO. Rockefeller Capital Management L.P. increased its holdings in shares of AdaptHealth by 433.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company’s stock valued at $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 worth about $56,000. Assetmark Inc. raised its position in shares of AdaptHealth by 54.8% in the 1st quarter. Assetmark Inc. now owns 6,952 shares of the company’s stock worth $83,000 after purchasing an additional 2,460 shares during the last quarter. Sanctuary Advisors LLC bought a new position in AdaptHealth in the 1st quarter worth about $120,000. Finally, OLD National Bancorp IN bought a new position in AdaptHealth in the 1st quarter worth about $138,000. Hedge funds and other institutional investors own 82.67% of the company’s stock.

AdaptHealth Price Performance

AHCO opened at $5.76 on Friday. The stock has a fifty day simple moving average of $7.52 and a two-hundred day simple moving average of $9.68. 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 company has a market cap of $785.32 million, a price-to-earnings ratio of -3.37 and a beta of 1.39. AdaptHealth has a 12-month low of $5.21 and a 12-month high of $13.43.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of $0.17 by ($1.16). AdaptHealth had a negative net margin of 7.07% and a positive return on equity of 3.36%. The firm had revenue of $740.31 million for the quarter, compared to analysts’ expectations of $846.77 million. During the same period in the prior year, the business posted $0.10 EPS. The business’s quarterly revenue was down 7.5% compared to the same quarter last year.

About AdaptHealth

AdaptHealth Corp. (NASDAQ: AHCO) is a provider of home medical equipment, medical supplies and related healthcare services in the United States. The company supports patients who require ongoing care outside of traditional healthcare facilities and works with physicians, hospitals, insurers and other referral sources to coordinate equipment delivery, setup and clinical support.

AdaptHealth’s offerings include respiratory equipment such as oxygen systems, ventilators and continuous positive airway pressure (CPAP) devices; diabetes supplies; sleep therapy products; mobility equipment; wheelchairs; wound-care products; and other home medical equipment and disposable supplies.