AdaptHealth Corp. (AHCO) – What Are Brokerages Thinking About This Stock?

AdaptHealth Corp. (NASDAQ:AHCO) has been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $10.14.

AHCO has been the topic of several research reports. Truist Financial cut their price target on shares of AdaptHealth from $14.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Jefferies Financial Group upgraded shares of AdaptHealth from a “hold” rating to a “buy” rating and lifted their price objective for the company from $11.00 to $13.00 in a research note on Tuesday, July 21st. UBS Group decreased their price objective on shares of AdaptHealth from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Royal Bank Of Canada dropped their price objective on shares of AdaptHealth from $15.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Finally, Robert W. Baird cut their price objective on shares of AdaptHealth from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, September 17th.

Insider Transactions at AdaptHealth

In other AdaptHealth news, Director Kenneth Samet purchased 23,500 shares of the stock in a transaction on Thursday, August 6th. The shares were bought at an average cost of $6.38 per share, with a total value of $149,930.00. Following the completion of the acquisition, the director owned 48,569 shares in the company, valued at $309,870.22. This trade represents a 93.74% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AdaptHealth

A number of institutional investors have recently modified their holdings of AHCO. Kennedy Capital Management LLC boosted its holdings in AdaptHealth by 15.2% during the fourth quarter. Kennedy Capital Management LLC now owns 2,408,038 shares of the company’s stock worth $23,984,000 after buying an additional 317,900 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in AdaptHealth by 87.7% in the first 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 in the last quarter. Principal Financial Group Inc. increased its holdings in 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 increased its holdings in 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. Finally, Corient Private Wealth LP raised its position in shares of AdaptHealth by 259.0% in the second quarter. Corient Private Wealth LP now owns 224,099 shares of the company’s stock worth $2,335,000 after acquiring an additional 161,677 shares during the period. Hedge funds and other institutional investors own 82.67% of the company’s stock.

AdaptHealth Stock Performance

Shares of AHCO opened at $6.25 on Thursday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.98 and a current ratio of 1.12. The stock has a 50-day moving average of $5.82 and a two-hundred day moving average of $9.10. The stock has a market cap of $852.15 million, a P/E ratio of -3.65 and a beta of 1.42. AdaptHealth has a one year low of $5.21 and a one year high of $13.43.

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

About AdaptHealth

AdaptHealth Corp. is a provider of home healthcare equipment, medical supplies and related services in the United States. The company helps patients manage medical conditions outside traditional healthcare settings by delivering equipment to their homes and providing education, setup and ongoing support.

Its offerings include respiratory equipment such as oxygen systems and ventilators, sleep therapy products including continuous positive airway pressure (CPAP) devices, diabetes supplies, mobility and assistive equipment, and other durable medical equipment.