AdaptHealth (NASDAQ:AHCO) Hits New 1-Year High – Still a Buy?

AdaptHealth Corp. (NASDAQ:AHCO) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $12.10 and last traded at $12.1510, with a volume of 59181 shares changing hands. The stock had previously closed at $12.03.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AHCO shares. Leerink Partners lowered their price target on AdaptHealth from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Weiss Ratings lowered AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a research note on Wednesday, February 25th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $13.00 target price on shares of AdaptHealth in a research report on Wednesday, February 25th. Zacks Research upgraded shares of AdaptHealth from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 1st. Finally, Wall Street Zen cut shares of AdaptHealth from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $13.25.

AdaptHealth Stock Up 1.8%

The firm’s fifty day simple moving average is $10.29 and its 200 day simple moving average is $9.87. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 1.15. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -22.29, a PEG ratio of 1.38 and a beta of 1.50.

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

Insider Transactions at AdaptHealth

In other AdaptHealth news, major shareholder Richard M. Cashin, Jr. acquired 447,100 shares of the stock in a transaction dated Friday, March 20th. The stock was acquired at an average cost of $9.91 per share, with a total value of $4,430,761.00. Following the transaction, the insider owned 16,312,698 shares in the company, valued at $161,658,837.18. The trade was a 2.82% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders bought 2,494,518 shares of company stock worth $24,352,291. 1.55% of the stock is owned by insiders.

Institutional Investors Weigh In On AdaptHealth

Several institutional investors have recently added to or reduced their stakes in AHCO. Rockefeller Capital Management L.P. increased its stake in AdaptHealth by 433.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company’s stock valued at $26,000 after purchasing an additional 2,100 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in AdaptHealth during the third quarter worth approximately $35,000. PNC Financial Services Group Inc. lifted its position in shares of AdaptHealth by 22.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock worth $70,000 after buying an additional 1,279 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of AdaptHealth by 318.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock worth $90,000 after buying an additional 7,297 shares during the last quarter. Finally, Tidal Investments LLC acquired a new position in shares of AdaptHealth in the 2nd quarter valued at $96,000. Hedge funds and other institutional investors own 82.67% of the company’s stock.

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.