AdaptHealth (NASDAQ:AHCO) Raised to Buy at Wall Street Zen

AdaptHealth (NASDAQ:AHCO) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Sunday.

Other research analysts have also issued reports about the company. Leerink Partners cut their price objective on AdaptHealth from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Royal Bank Of Canada lifted their target price on AdaptHealth from $13.00 to $15.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Jefferies Financial Group reaffirmed a “hold” rating and set a $11.00 target price on shares of AdaptHealth in a research report on Monday, April 20th. Truist Financial lifted their target price on AdaptHealth from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Finally, Robert W. Baird set a $18.00 target price on AdaptHealth in a research report on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $14.29.

AdaptHealth Trading Up 0.6%

NASDAQ:AHCO opened at $10.16 on Friday. The business’s 50-day moving average is $11.34 and its two-hundred day moving average is $10.57. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.92 and a quick ratio of 0.71. AdaptHealth has a 12 month low of $8.06 and a 12 month high of $13.43. The firm has a market capitalization of $1.38 billion, a PE ratio of -16.39, a price-to-earnings-growth ratio of 0.52 and a beta of 1.47.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.13). AdaptHealth had a negative net margin of 2.42% and a positive return on equity of 2.76%. The company had revenue of $819.80 million during the quarter, compared to analysts’ expectations of $796.63 million. During the same period last year, the business earned ($0.05) earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts predict that AdaptHealth will post 0.44 earnings per share for the current fiscal year.

Insider Transactions at AdaptHealth

In other news, major shareholder Richard M. Cashin, Jr. purchased 447,100 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average cost of $9.91 per share, for a total transaction of $4,430,761.00. Following the completion of the purchase, the insider owned 16,312,698 shares of the company’s stock, valued at approximately $161,658,837.18. This trade represents a 2.82% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Russell E. Schuster III sold 11,275 shares of AdaptHealth stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $10.06, for a total value of $113,426.50. Following the completion of the transaction, the insider owned 136,538 shares of the company’s stock, valued at $1,373,572.28. This trade represents a 7.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.95% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AdaptHealth

A number of hedge funds have recently bought and sold shares of AHCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in AdaptHealth by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,495 shares of the company’s stock worth $656,000 after purchasing an additional 2,564 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in AdaptHealth by 32.4% in the first quarter. Goldman Sachs Group Inc. now owns 571,232 shares of the company’s stock worth $6,192,000 after purchasing an additional 139,828 shares in the last quarter. Woodline Partners LP acquired a new position in AdaptHealth in the first quarter worth about $2,851,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in AdaptHealth by 18.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,780 shares of the company’s stock worth $2,534,000 after purchasing an additional 35,879 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in AdaptHealth by 1.3% in the second quarter. JPMorgan Chase & Co. now owns 211,769 shares of the company’s stock worth $1,997,000 after purchasing an additional 2,718 shares in the last quarter. 82.67% of the stock is currently owned by institutional investors and hedge funds.

AdaptHealth Company Profile

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.