AdaptHealth Corp. (NASDAQ:AHCO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

AdaptHealth Corp. (NASDAQ:AHCO) has received a consensus rating of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $13.25.

AHCO has been the topic of a number of research analyst reports. Royal Bank Of Canada restated an “outperform” rating and set a $13.00 price target on shares of AdaptHealth in a research report on Wednesday, February 25th. Wall Street Zen lowered AdaptHealth from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings downgraded shares of AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, February 25th. Zacks Research raised shares of AdaptHealth from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Finally, Leerink Partners dropped their target price on shares of AdaptHealth from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th.

AdaptHealth Stock Down 1.7%

Shares of NASDAQ AHCO opened at $9.91 on Friday. AdaptHealth has a 52-week low of $7.11 and a 52-week high of $11.17. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.81 and a current ratio of 1.02. The business has a fifty day moving average of $10.10 and a two-hundred day moving average of $9.71. The stock has a market cap of $1.35 billion, a PE ratio of -18.02, a PEG ratio of 1.14 and a beta of 1.76.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings results on Tuesday, February 24th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($1.10). The firm had revenue of $846.29 million for 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%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.34 earnings per share. As a group, equities research analysts expect that AdaptHealth will post 0.88 earnings per share for the current fiscal year.

Insider Activity at AdaptHealth

In other news, major shareholder Richard M. Cashin, Jr. bought 689,336 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was bought at an average price of $9.73 per share, for a total transaction of $6,707,239.28. Following the completion of the transaction, the insider directly owned 15,864,871 shares in the company, valued at $154,365,194.83. The trade was a 4.54% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders acquired 2,046,691 shares of company stock valued at $19,914,303. 1.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. boosted its stake in shares of AdaptHealth by 433.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company’s stock valued at $26,000 after purchasing an additional 2,100 shares during the last quarter. FNY Investment Advisers LLC bought a new position in AdaptHealth in the third quarter valued at approximately $35,000. PNC Financial Services Group Inc. raised its position in shares of AdaptHealth by 22.3% during 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. Tower Research Capital LLC TRC lifted its stake in shares of AdaptHealth by 318.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock valued at $90,000 after purchasing an additional 7,297 shares during the period. Finally, Tidal Investments LLC acquired a new position in shares of AdaptHealth in the 2nd quarter valued at $96,000. 82.67% of the stock is currently 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.