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

AdaptHealth (NASDAQ:AHCO) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Several other research analysts have also recently weighed in on AHCO. Leerink Partners decreased their price target on shares of AdaptHealth from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Thursday. Canaccord Genuity Group upped their target price on AdaptHealth from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Weiss Ratings cut AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday. Zacks Research upgraded AdaptHealth from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $13.00 price objective on shares of AdaptHealth in a research report on Wednesday. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, AdaptHealth has a consensus rating of “Moderate Buy” and a consensus price target of $13.25.

AdaptHealth Stock Up 0.8%

AHCO stock opened at $9.15 on Friday. The stock has a 50-day simple moving average of $10.17 and a two-hundred day simple moving average of $9.66. AdaptHealth has a twelve month low of $7.11 and a twelve month high of $11.53. The firm has a market capitalization of $1.24 billion, a PE ratio of -16.64, a PEG ratio of 1.12 and a beta of 1.72. The company has a quick ratio of 0.86, a current ratio of 1.02 and a debt-to-equity ratio of 1.15.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings data on Tuesday, February 24th. The company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($1.10). The firm had revenue of $846.29 million during the quarter, compared to the consensus estimate of $832.51 million. AdaptHealth had a negative net margin of 2.18% and a positive return on equity of 3.42%. AdaptHealth’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 earnings per share. On average, equities analysts predict that AdaptHealth will post 0.88 EPS for the current fiscal year.

Insider Activity at AdaptHealth

In other AdaptHealth news, Director David Solomon Williams III sold 5,000 shares of AdaptHealth stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $9.43, for a total transaction of $47,150.00. Following the transaction, the director directly owned 45,045 shares of the company’s stock, 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 legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its stake in shares of AdaptHealth by 22.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock valued at $70,000 after acquiring an additional 1,279 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in AdaptHealth by 6.6% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,095 shares of the company’s stock worth $256,000 after buying an additional 1,671 shares during the period. MetLife Investment Management LLC grew its position in shares of AdaptHealth by 3.1% in the 4th quarter. MetLife Investment Management LLC now owns 57,364 shares of the company’s stock worth $571,000 after buying an additional 1,749 shares during the last quarter. Corient Private Wealth LLC increased its stake in shares of AdaptHealth by 8.6% during the fourth quarter. Corient Private Wealth LLC now owns 22,562 shares of the company’s stock valued at $227,000 after buying an additional 1,794 shares during the period. Finally, CWM LLC raised its holdings in AdaptHealth by 17.5% in the 3rd quarter. CWM LLC now owns 12,306 shares of the company’s stock worth $110,000 after purchasing an additional 1,835 shares in the last quarter. 82.67% of the stock is owned by institutional investors.

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.