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

Shares of AdaptHealth Corp. (NASDAQ:AHCO) have been given an average rating of “Moderate Buy” by the six research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $13.25.

A number of equities research analysts have recently commented on the company. Weiss Ratings downgraded AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, February 25th. Leerink Partners reduced their target price 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 reissued an “outperform” rating and issued a $13.00 price target on shares of AdaptHealth in a research note on Wednesday, February 25th. Wall Street Zen cut AdaptHealth from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Zacks Research upgraded shares of AdaptHealth from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st.

AdaptHealth Stock Up 0.2%

Shares of NASDAQ AHCO opened at $11.41 on Friday. The firm has a market cap of $1.55 billion, a P/E ratio of -20.75, a price-to-earnings-growth ratio of 1.31 and a beta of 1.76. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.81 and a current ratio of 1.02. AdaptHealth has a 1 year low of $7.11 and a 1 year high of $11.75. The firm’s 50 day moving average price is $10.14 and its 200 day moving average price is $9.76.

AdaptHealth (NASDAQ:AHCO) last issued its quarterly earnings results on Tuesday, February 24th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of $0.34 by ($1.10). AdaptHealth had a negative net margin of 2.18% and a positive return on equity of 3.42%. The business had revenue of $846.29 million during the quarter, compared to analyst estimates of $832.51 million. During the same quarter last year, the firm posted $0.34 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis. As a group, sell-side analysts anticipate that AdaptHealth will post 0.88 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Richard M. Cashin, Jr. purchased 820,528 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were bought at an average price of $9.73 per share, with a total value of $7,983,737.44. Following the completion of the purchase, the insider directly owned 14,638,708 shares in the company, valued at approximately $142,434,628.84. This trade represents a 5.94% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have purchased a total of 2,494,518 shares of company stock worth $24,352,291 over the last ninety days. Corporate insiders own 1.55% of the company’s stock.

Institutional Trading of AdaptHealth

Institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its position in AdaptHealth by 22.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock valued at $70,000 after purchasing an additional 1,279 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of AdaptHealth by 6.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,095 shares of the company’s stock worth $256,000 after buying an additional 1,671 shares during the period. MetLife Investment Management LLC boosted its position in shares of AdaptHealth by 3.1% in the fourth quarter. MetLife Investment Management LLC now owns 57,364 shares of the company’s stock worth $571,000 after buying an additional 1,749 shares during the period. Corient Private Wealth LLC grew its stake in shares of AdaptHealth by 8.6% in the fourth quarter. Corient Private Wealth LLC now owns 22,562 shares of the company’s stock valued at $227,000 after buying an additional 1,794 shares in the last quarter. Finally, CWM LLC grew its stake in shares of AdaptHealth by 17.5% in the third quarter. CWM LLC now owns 12,306 shares of the company’s stock valued at $110,000 after buying an additional 1,835 shares in the last quarter. 82.67% of the stock is owned by hedge funds and other institutional investors.

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.