AdaptHealth (NASDAQ:AHCO) Cut to “Hold” at Wall Street Zen

AdaptHealth (NASDAQ:AHCO) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other brokerages have also commented on AHCO. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AdaptHealth in a research report on Friday, May 22nd. Leerink Partners cut their price objective on shares of AdaptHealth from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Robert W. Baird set a $18.00 price objective on shares of AdaptHealth in a research report on Wednesday, May 6th. UBS Group cut their price objective on shares of AdaptHealth from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada upped their price objective on shares of AdaptHealth from $13.00 to $15.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.29.

AdaptHealth Stock Up 1.6%

AdaptHealth stock opened at $9.89 on Friday. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -15.95, a P/E/G ratio of 0.49 and a beta of 1.47. 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 fifty-two week low of $8.06 and a fifty-two week high of $13.43. The firm has a fifty day moving average price of $11.50 and a two-hundred day moving average price of $10.55.

AdaptHealth (NASDAQ:AHCO) last released its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.13). The firm had revenue of $819.80 million for the quarter, compared to analyst estimates of $796.63 million. AdaptHealth had a positive return on equity of 2.76% and a negative net margin of 2.42%.The firm’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.05) EPS. As a group, analysts forecast that AdaptHealth will post 0.44 earnings per share for the current year.

Insider Transactions at AdaptHealth

In related news, insider Russell E. Schuster III sold 11,275 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $10.06, for a total value of $113,426.50. Following the sale, the insider owned 136,538 shares of the company’s stock, valued at $1,373,572.28. The trade was a 7.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Richard M. Cashin, Jr. bought 447,100 shares of the 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 purchase, the insider owned 16,312,698 shares of the company’s stock, valued at $161,658,837.18. This trade represents a 2.82% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 2,494,518 shares of company stock worth $24,352,291. 1.95% of the stock is currently owned by insiders.

Institutional Trading of AdaptHealth

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its stake in AdaptHealth by 386.3% in the fourth quarter. SG Americas Securities LLC now owns 78,141 shares of the company’s stock valued at $778,000 after acquiring an additional 62,073 shares during the period. Hudson Edge Investment Partners Inc. bought a new stake in AdaptHealth during the fourth quarter worth about $614,000. Reinhart Partners LLC. grew its stake in AdaptHealth by 10.6% during the fourth quarter. Reinhart Partners LLC. now owns 8,100,785 shares of the company’s stock worth $80,684,000 after buying an additional 773,727 shares during the last quarter. Kennedy Capital Management LLC grew its stake in AdaptHealth by 48.8% during the third quarter. Kennedy Capital Management LLC now owns 2,090,138 shares of the company’s stock worth $18,707,000 after buying an additional 685,554 shares during the last quarter. Finally, Bastion Asset Management Inc. bought a new stake in AdaptHealth during the third quarter worth about $4,199,000. Institutional investors own 82.67% of the company’s stock.

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.