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

AdaptHealth Corp. (NASDAQ:AHCO) has received a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $10.1429.

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

Insider Buying and Selling

In other news, Director Kenneth Samet acquired 23,500 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was purchased at an average price of $6.38 per share, for a total transaction of $149,930.00. Following the purchase, the director owned 48,569 shares in the company, valued at approximately $309,870.22. This represents a 93.74% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.95% of the company’s stock.

Hedge Funds Weigh In On AdaptHealth

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. increased its position 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 during the last quarter. Public Employees Retirement System of Ohio purchased a new position in AdaptHealth in the second quarter worth $56,000. Assetmark Inc. boosted its position in AdaptHealth by 54.8% in the first 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 valued at $120,000. Finally, OLD National Bancorp IN bought a new position in AdaptHealth in the 1st quarter valued at $138,000. Hedge funds and other institutional investors own 82.67% of the company’s stock.

AdaptHealth Trading Down 0.9%

AHCO opened at $5.71 on Friday. AdaptHealth has a fifty-two week low of $5.21 and a fifty-two week high of $13.43. The firm has a market capitalization of $778.50 million, a PE ratio of -3.34 and a beta of 1.39. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.12 and a quick ratio of 0.98. The company’s 50-day moving average is $7.43 and its 200 day moving average is $9.65.

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

AdaptHealth Company Profile

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.