Equities research analysts forecast that AdaptHealth Corp. (NASDAQ:AHCO) will report $326.10 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for AdaptHealth’s earnings, with the highest sales estimate coming in at $331.89 million and the lowest estimate coming in at $314.00 million. AdaptHealth reported sales of $149.54 million during the same quarter last year, which would suggest a positive year over year growth rate of 118.1%. The firm is scheduled to announce its next earnings report before the market opens on Thursday, March 4th.
According to Zacks, analysts expect that AdaptHealth will report full year sales of $1.03 billion for the current fiscal year, with estimates ranging from $1.02 billion to $1.04 billion. For the next financial year, analysts expect that the business will post sales of $2.18 billion, with estimates ranging from $2.11 billion to $2.30 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow AdaptHealth.
A number of equities analysts have issued reports on AHCO shares. SVB Leerink boosted their price objective on shares of AdaptHealth from $32.50 to $39.50 and gave the company an “outperform” rating in a research report on Wednesday, December 2nd. Zacks Investment Research cut shares of AdaptHealth from a “strong-buy” rating to a “sell” rating in a research report on Tuesday, February 2nd. UBS Group began coverage on shares of AdaptHealth in a research report on Thursday, December 10th. They set a “buy” rating and a $49.00 price target on the stock. Robert W. Baird began coverage on shares of AdaptHealth in a research report on Monday, November 16th. They set an “outperform” rating and a $35.00 price target on the stock. Finally, Royal Bank of Canada boosted their price target on shares of AdaptHealth from $36.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, December 2nd. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $41.94.
Several hedge funds and other institutional investors have recently modified their holdings of AHCO. Nuveen Asset Management LLC bought a new position in shares of AdaptHealth in the second quarter worth approximately $201,000. Envestnet Asset Management Inc. purchased a new position in shares of AdaptHealth during the third quarter valued at approximately $492,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of AdaptHealth during the third quarter valued at approximately $3,902,000. Emerald Advisers LLC purchased a new position in shares of AdaptHealth during the third quarter valued at approximately $78,000. Finally, Kovack Advisors Inc. purchased a new position in shares of AdaptHealth during the third quarter valued at approximately $103,000. Hedge funds and other institutional investors own 28.37% of the company’s stock.
Shares of NASDAQ AHCO traded down $0.89 during mid-day trading on Thursday, reaching $30.32. 24,224 shares of the company were exchanged, compared to its average volume of 1,100,604. The company’s 50 day moving average price is $36.21 and its 200 day moving average price is $29.91. AdaptHealth has a 52 week low of $10.29 and a 52 week high of $41.58. The stock has a market capitalization of $2.90 billion and a PE ratio of -520.08. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 1.64.
AdaptHealth Corp., together with its subsidiaries, provides home healthcare equipment, medical supplies, and home and related services in the United States. The company provides sleep therapy equipment, supplies, and related services, including CPAP and bi-PAP services to individuals suffering from obstructive sleep apnea; home medical equipment (HME) to patients discharged from acute care and other facilities; oxygen and related chronic therapy services in the home; and other HME medical devices and supplies on behalf of chronically ill patients with diabetes care, wound care, urological, ostomy, and nutritional supply needs.
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