AdaptHealth (NASDAQ:AHCO) Reaches New 1-Year High – Should You Buy?

Shares of AdaptHealth Corp. (NASDAQ:AHCO) hit a new 52-week high during trading on Thursday . The company traded as high as $13.40 and last traded at $13.08, with a volume of 1183010 shares traded. The stock had previously closed at $13.38.

Analysts Set New Price Targets

AHCO has been the subject of a number of research analyst reports. Wall Street Zen lowered AdaptHealth from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Leerink Partners cut their price target on AdaptHealth from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Jefferies Financial Group reiterated a “hold” rating and set a $11.00 price target on shares of AdaptHealth in a report on Monday, April 20th. Royal Bank Of Canada reiterated an “outperform” rating and set a $13.00 price target on shares of AdaptHealth in a report on Wednesday, February 25th. Finally, Truist Financial upped their price target on AdaptHealth from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, AdaptHealth presently has an average rating of “Hold” and a consensus target price of $13.00.

AdaptHealth Stock Up 0.5%

The business has a 50 day moving average of $11.20 and a 200 day moving average of $10.34. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.02 and a quick ratio of 0.81. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -23.95, a price-to-earnings-growth ratio of 1.51 and a beta of 1.57.

AdaptHealth (NASDAQ:AHCO) last issued its earnings results on Tuesday, February 24th. The company reported ($0.76) EPS 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%. The business’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 company posted $0.34 earnings per share. On average, equities analysts anticipate that AdaptHealth Corp. will post 0.79 EPS for the current year.

Insider Activity at AdaptHealth

In other news, major shareholder Richard M. Cashin, Jr. bought 820,528 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was acquired at an average cost of $9.73 per share, for a total transaction of $7,983,737.44. Following the completion of the purchase, the insider owned 14,638,708 shares of the company’s stock, valued at $142,434,628.84. This trade represents a 5.94% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders acquired 2,494,518 shares of company stock valued at $24,352,291 in the last three months. Corporate insiders own 1.55% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. raised its stake in shares of 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 in the last quarter. FNY Investment Advisers LLC bought a new stake in AdaptHealth in the third quarter valued at $35,000. PNC Financial Services Group Inc. grew 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 acquiring an additional 1,279 shares during the period. Tower Research Capital LLC TRC grew its position in AdaptHealth by 318.0% in the second quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock valued at $90,000 after acquiring an additional 7,297 shares during the period. Finally, Tidal Investments LLC bought a new stake in AdaptHealth in the second quarter valued at $96,000. 82.67% of the stock is currently owned by institutional investors and hedge funds.

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.