AdaptHealth (NASDAQ:AHCO) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen downgraded shares of AdaptHealth (NASDAQ:AHCO) from a strong-buy rating to a buy rating in a research note released on Saturday.

Several other research analysts also recently issued reports on the stock. Canaccord Genuity Group upped their target price 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. Zacks Research raised AdaptHealth from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Weiss Ratings upgraded AdaptHealth from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, January 30th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, AdaptHealth currently has an average rating of “Moderate Buy” and an average price target of $14.25.

AdaptHealth Trading Up 1.1%

NASDAQ:AHCO opened at $10.20 on Friday. AdaptHealth has a one year low of $7.11 and a one year high of $11.63. The company’s 50-day simple moving average is $10.24 and its 200 day simple moving average is $9.62. The firm has a market capitalization of $1.38 billion, a P/E ratio of 18.55, a PEG ratio of 1.16 and a beta of 1.72. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.08 and a quick ratio of 0.86.

Insiders Place Their Bets

In related news, Director David Solomon Williams III sold 5,000 shares of the stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $9.43, for a total transaction of $47,150.00. Following the completion of the sale, the director owned 45,045 shares in the company, valued at approximately $424,774.35. This trade represents a 9.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.55% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AHCO. PNC Financial Services Group Inc. boosted its stake in AdaptHealth by 22.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock valued at $70,000 after buying an additional 1,279 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of AdaptHealth by 6.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,095 shares of the company’s stock valued at $256,000 after acquiring an additional 1,671 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of AdaptHealth by 3.1% in the fourth quarter. MetLife Investment Management LLC now owns 57,364 shares of the company’s stock valued at $571,000 after purchasing an additional 1,749 shares in the last quarter. CWM LLC increased its position in AdaptHealth by 17.5% in the third quarter. CWM LLC now owns 12,306 shares of the company’s stock worth $110,000 after purchasing an additional 1,835 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in AdaptHealth by 9.3% during the third quarter. Arizona State Retirement System now owns 27,937 shares of the company’s stock valued at $250,000 after purchasing an additional 2,367 shares in the last quarter. Institutional investors own 82.67% of the company’s stock.

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.