Wall Street Zen Downgrades AdaptHealth (NASDAQ:AHCO) to Hold

AdaptHealth (NASDAQ:AHCO) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

A number of other research firms have also recently commented on AHCO. Robert W. Baird set a $10.00 target price on shares of AdaptHealth in a research report on Wednesday. Canaccord Genuity Group set a $10.00 price objective on shares of AdaptHealth in a research report on Wednesday. Weiss Ratings reiterated a “sell (d)” rating on shares of AdaptHealth in a report on Friday, May 22nd. Jefferies Financial Group raised AdaptHealth from a “hold” rating to a “buy” rating and upped their price target for the company from $11.00 to $13.00 in a report on Tuesday, July 21st. Finally, Truist Financial dropped their price target on shares of AdaptHealth from $14.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.29.

AdaptHealth Stock Performance

AHCO opened at $5.69 on Friday. AdaptHealth has a one year low of $5.66 and a one year high of $13.43. The stock has a market capitalization of $773.33 million, a PE ratio of -3.33, a P/E/G ratio of 0.29 and a beta of 1.47. The business’s 50 day moving average price is $9.96 and its 200 day moving average price is $10.55. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.98 and a current ratio of 1.12.

Insider Activity

In other AdaptHealth news, insider Russell E. Schuster III sold 11,275 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $10.06, for a total transaction of $113,426.50. Following the completion of the sale, the insider directly owned 136,538 shares of the company’s stock, valued at approximately $1,373,572.28. This trade represents a 7.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.95% of the stock is currently owned by corporate insiders.

Institutional Trading of AdaptHealth

Several hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in shares of AdaptHealth by 22.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock worth $70,000 after purchasing an additional 1,279 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of AdaptHealth by 3.1% in the 4th quarter. MetLife Investment Management LLC now owns 57,364 shares of the company’s stock worth $571,000 after purchasing an additional 1,749 shares in the last quarter. Corient Private Wealth LLC lifted its stake in AdaptHealth by 8.6% during the fourth quarter. Corient Private Wealth LLC now owns 22,562 shares of the company’s stock valued at $227,000 after purchasing an additional 1,794 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in AdaptHealth by 433.0% during 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. Finally, Assetmark Inc. boosted its holdings in AdaptHealth by 54.8% during the first quarter. Assetmark Inc. now owns 6,952 shares of the company’s stock worth $83,000 after buying an additional 2,460 shares in the last quarter. Hedge funds and other institutional investors own 82.67% of the company’s stock.

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.