AdaptHealth (NASDAQ:AHCO) Stock Rating Upgraded by Zacks Research

AdaptHealth (NASDAQ:AHCO) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

AHCO has been the topic of a number of other reports. Wall Street Zen lowered shares of AdaptHealth from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Canaccord Genuity Group boosted their price objective on shares of AdaptHealth from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings upgraded AdaptHealth from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $13.60.

AdaptHealth Trading Down 2.9%

Shares of AHCO stock opened at $9.67 on Thursday. AdaptHealth has a twelve month low of $7.11 and a twelve month high of $11.63. The stock’s fifty day simple moving average is $9.72 and its 200 day simple moving average is $9.37. The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $1.31 billion, a P/E ratio of 17.58, a P/E/G ratio of 1.13 and a beta of 1.77.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.05). AdaptHealth had a net margin of 2.53% and a return on equity of 4.85%. The firm had revenue of $820.31 million for the quarter, compared to analyst estimates of $799.62 million. During the same period in the previous year, the business posted $0.15 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, sell-side analysts predict that AdaptHealth will post 0.88 EPS for the current fiscal year.

Insider Buying and Selling at AdaptHealth

In other news, Director David Solomon Williams III sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $9.43, for a total value of $47,150.00. Following the transaction, the director directly owned 45,045 shares of the company’s stock, valued at $424,774.35. The trade was a 9.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.55% of the company’s stock.

Hedge Funds Weigh In On AdaptHealth

Institutional investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC boosted its position in shares of AdaptHealth by 88.8% during the 1st quarter. Intech Investment Management LLC now owns 225,452 shares of the company’s stock worth $2,444,000 after purchasing an additional 106,035 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in AdaptHealth during the 3rd quarter worth approximately $1,171,000. GAMMA Investing LLC boosted its holdings in AdaptHealth by 38.7% in the second quarter. GAMMA Investing LLC now owns 10,365 shares of the company’s stock worth $98,000 after acquiring an additional 2,892 shares in the last quarter. Allianz Asset Management GmbH grew its stake in AdaptHealth by 127.6% in the second quarter. Allianz Asset Management GmbH now owns 167,279 shares of the company’s stock valued at $1,577,000 after acquiring an additional 93,779 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in AdaptHealth by 1.9% in the second quarter. Janney Montgomery Scott LLC now owns 80,301 shares of the company’s stock valued at $757,000 after acquiring an additional 1,511 shares during the period. 82.67% of the stock is owned by institutional investors and hedge funds.

About AdaptHealth

AdaptHealth, Inc operates as a leading provider of home medical equipment (HME) and related services in the United States. The company focuses on delivering respiratory care, mobility solutions and bathroom safety products to patients with chronic and acute medical needs. Through its comprehensive service offerings, AdaptHealth aims to enhance quality of life and clinical outcomes for patients who require long-term support outside of a hospital setting.

The company’s respiratory portfolio includes products such as continuous positive airway pressure (CPAP) devices, oxygen concentrators, ventilators, and associated supplies for patients with sleep apnea, COPD and other pulmonary conditions.