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

AdaptHealth Corp. (NASDAQ:AHCO) has received a consensus rating of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $11.67.

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

AdaptHealth Trading Up 1.7 %

AHCO opened at $9.52 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. The stock’s fifty day moving average is $9.96 and its two-hundred day moving average is $10.38. The company has a market capitalization of $1.28 billion, a P/E ratio of -5.77, a PEG ratio of 1.36 and a beta of 1.10. AdaptHealth has a 52 week low of $6.46 and a 52 week high of $11.90.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings results 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 firm had revenue of $805.90 million for the quarter, compared to analysts’ expectations of $809.32 million. During the same quarter in the prior year, the business posted $0.19 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. Analysts forecast that AdaptHealth will post 0.88 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board acquired a new stake in AdaptHealth in the second quarter worth about $58,000. Quarry LP boosted its stake in AdaptHealth by 4,596.9% in the 3rd quarter. Quarry LP now owns 5,965 shares of the company’s stock worth $67,000 after purchasing an additional 5,838 shares in the last quarter. Innealta Capital LLC purchased a new stake in AdaptHealth during the 2nd quarter worth approximately $101,000. Quest Partners LLC increased its stake in AdaptHealth by 11,522.7% during the 2nd quarter. Quest Partners LLC now owns 10,228 shares of the company’s stock valued at $102,000 after purchasing an additional 10,140 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new position in AdaptHealth during the third quarter worth $122,000. 82.67% of the stock is owned by institutional investors and hedge funds.

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.