AdaptHealth Corp. (NASDAQ:AHCO) Given Consensus Rating of “Moderate Buy” by Analysts

AdaptHealth Corp. (NASDAQ:AHCO) has earned an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $11.67.

A number of brokerages have recently commented on AHCO. Truist Financial reduced their price target on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, November 15th. UBS Group cut their target price on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Canaccord Genuity Group lowered their price target on AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Royal Bank of Canada dropped their price target on AdaptHealth from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Finally, Robert W. Baird reduced their price objective on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th.

AdaptHealth Stock Performance

Shares of AHCO opened at $10.03 on Friday. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -6.08, a P/E/G ratio of 1.40 and a beta of 1.11. The business’s fifty day simple moving average is $10.36 and its two-hundred day simple moving average is $10.46. AdaptHealth has a 12 month low of $6.43 and a 12 month high of $11.90. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 1.34.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.02). AdaptHealth had a negative net margin of 6.57% and a positive return on equity of 9.62%. The business had revenue of $805.90 million for the quarter, compared to analysts’ expectations of $809.32 million. During the same period last year, the business earned $0.19 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. Research analysts anticipate that AdaptHealth will post 0.88 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Shaw Rietkerk sold 25,000 shares of AdaptHealth stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.24, for a total transaction of $281,000.00. Following the transaction, the chief operating officer now directly owns 212,611 shares of the company’s stock, valued at $2,389,747.64. The trade was a 10.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.43% of the company’s stock.

Institutional Investors Weigh In On AdaptHealth

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AHCO. Reinhart Partners LLC. boosted its position in shares of AdaptHealth by 45.2% in the third quarter. Reinhart Partners LLC. now owns 6,198,642 shares of the company’s stock worth $69,611,000 after purchasing an additional 1,929,339 shares during the period. Vanguard Group Inc. lifted its stake in shares of AdaptHealth by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock valued at $115,304,000 after buying an additional 818,241 shares in the last quarter. Divisadero Street Capital Management LP boosted its holdings in AdaptHealth by 179.7% in the 2nd quarter. Divisadero Street Capital Management LP now owns 1,161,592 shares of the company’s stock worth $11,616,000 after buying an additional 746,340 shares during the period. Dimensional Fund Advisors LP boosted its holdings in AdaptHealth by 43.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,327,738 shares of the company’s stock worth $23,277,000 after buying an additional 710,131 shares during the period. Finally, State Street Corp increased its stake in AdaptHealth by 19.8% in the 3rd quarter. State Street Corp now owns 4,124,284 shares of the company’s stock worth $46,316,000 after buying an additional 681,816 shares in the last quarter. 82.67% of the stock is owned by hedge funds and other institutional investors.

About AdaptHealth

AdaptHealth Corp., together with its subsidiaries, sells home medical equipment (HME), medical supplies, and home and related services in the United States. The company provides sleep therapy equipment, supplies, and related services, such as CPAP and bi-PAP services to individuals suffering from obstructive sleep apnea; medical devices and supplies, including continuous glucose monitors and insulin pumps for the treatment of diabetes; HME to patients discharged from acute care and other facilities; oxygen and related chronic therapy services in the home; and other HME devices and supplies on behalf of chronically ill patients with wound care, urological, incontinence, ostomy, and nutritional supply needs.