AdaptHealth (NASDAQ:AHCO) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of AdaptHealth (NASDAQ:AHCO) from a hold rating to a buy rating in a report published on Wednesday, Zacks.com reports. The brokerage currently has $26.00 price target on the stock.

According to Zacks, “AdaptHealth Corp. is a provider of home medical equipment primarily in the United States. It offers medical products for both rental and sale, with a focus on respiratory and/or mobility equipment, including CPAP sleep equipment, oxygen equipment, wheelchairs, walkers and hospital beds. AdaptHealth Corp., formerly known as DFB Healthcare Acquisitions Corp., is based in PLYMOUTH MEETING. “

Several other brokerages also recently issued reports on AHCO. Truist Securities lowered their price objective on shares of AdaptHealth from $40.00 to $30.00 and set a buy rating on the stock in a research note on Wednesday, October 13th. Truist cut their price objective on AdaptHealth from $40.00 to $30.00 and set a buy rating for the company in a report on Wednesday, October 13th. TheStreet cut AdaptHealth from a c- rating to a d rating in a report on Wednesday, December 1st. Finally, SVB Leerink raised their target price on AdaptHealth from $30.00 to $35.00 and gave the company an outperform rating in a research note on Friday, November 5th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Buy and an average price target of $36.63.

AHCO stock opened at $20.49 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.44 and a debt-to-equity ratio of 1.10. AdaptHealth has a one year low of $18.24 and a one year high of $41.58. The firm has a market capitalization of $2.71 billion, a PE ratio of -89.08, a P/E/G ratio of 0.72 and a beta of 0.15. The firm has a 50-day moving average of $22.53 and a two-hundred day moving average of $23.82.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings data on Thursday, November 4th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.08). AdaptHealth had a return on equity of 9.73% and a net margin of 4.86%. The firm had revenue of $653.30 million during the quarter, compared to analyst estimates of $638.74 million. During the same quarter in the prior year, the company posted $0.05 EPS. The company’s quarterly revenue was up 129.7% on a year-over-year basis. On average, equities research analysts anticipate that AdaptHealth will post 1.45 earnings per share for the current year.

In other AdaptHealth news, CEO Stephen P. Griggs bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 30th. The shares were acquired at an average cost of $19.42 per share, with a total value of $971,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jason A. Clemens acquired 1,300 shares of the firm’s stock in a transaction on Wednesday, December 1st. The stock was purchased at an average cost of $19.77 per share, for a total transaction of $25,701.00. The disclosure for this purchase can be found here. Corporate insiders own 17.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tributary Capital Management LLC acquired a new position in AdaptHealth in the 4th quarter valued at $1,331,000. UBS Asset Management Americas Inc. grew its holdings in AdaptHealth by 5.0% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 79,563 shares of the company’s stock valued at $1,853,000 after buying an additional 3,758 shares in the last quarter. Liontrust Investment Partners LLP bought a new stake in shares of AdaptHealth during the 3rd quarter valued at $3,838,000. Bank of New York Mellon Corp lifted its position in shares of AdaptHealth by 2.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 359,087 shares of the company’s stock valued at $8,363,000 after acquiring an additional 8,258 shares during the period. Finally, Schonfeld Strategic Advisors LLC lifted its position in shares of AdaptHealth by 52.2% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 13,700 shares of the company’s stock valued at $319,000 after acquiring an additional 4,700 shares during the period. 53.49% of the stock is currently owned by hedge funds and other institutional investors.

AdaptHealth Company Profile

AdaptHealth Corp. engages in the provision of home healthcare equipment, supplies and related services. It focuses on sleep therapy equipment to individuals suffering from obstructive sleep apnea (OSA), home medical equipment to patients discharged from acute care and other facilities, oxygen and related chronic therapy services in the home, and 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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