AdaptHealth (NASDAQ:AHCO) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of AdaptHealth (NASDAQ:AHCO) from a hold rating to a sell rating in a research note published on Sunday morning.

Other equities analysts have also recently issued reports about the company. Weiss Ratings reiterated a “sell (d)” rating on shares of AdaptHealth in a report on Friday, May 22nd. Royal Bank Of Canada dropped their price objective on shares of AdaptHealth from $15.00 to $8.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Jefferies Financial Group upgraded shares of AdaptHealth from a “hold” rating to a “buy” rating and upped their target price for the stock from $11.00 to $13.00 in a report on Tuesday, July 21st. Robert W. Baird set a $10.00 price target on AdaptHealth in a research note on Wednesday, August 5th. Finally, UBS Group lowered their price objective on AdaptHealth from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.29.

AdaptHealth Stock Up 0.2%

Shares of NASDAQ AHCO opened at $5.82 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.12 and a debt-to-equity ratio of 1.37. The firm has a market cap of $793.50 million, a PE ratio of -3.40, a P/E/G ratio of 0.30 and a beta of 1.47. The company’s fifty day simple moving average is $9.39 and its 200 day simple moving average is $10.33. AdaptHealth has a 12-month low of $5.21 and a 12-month high of $13.43.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($1.16). The company had revenue of $740.31 million during the quarter, compared to the consensus estimate of $846.77 million. AdaptHealth had a negative net margin of 7.07% and a positive return on equity of 3.36%. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period last year, the firm posted $0.10 earnings per share. As a group, sell-side analysts forecast that AdaptHealth will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at AdaptHealth

In other AdaptHealth news, insider Russell E. Schuster III sold 11,275 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $10.06, for a total value of $113,426.50. Following the completion of the transaction, the insider owned 136,538 shares in the company, valued at $1,373,572.28. This represents a 7.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth A. Samet bought 23,500 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were acquired at an average cost of $6.38 per share, with a total value of $149,930.00. Following the completion of the transaction, the director owned 48,569 shares in the company, valued at approximately $309,870.22. The trade was a 93.74% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.95% of the stock is currently owned by insiders.

Institutional Trading of AdaptHealth

Several hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its stake in AdaptHealth by 22.3% during the fourth 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% during the 4th quarter. MetLife Investment Management LLC now owns 57,364 shares of the company’s stock valued at $571,000 after buying an additional 1,749 shares in the last quarter. Corient Private Wealth LLC lifted its position in AdaptHealth by 8.6% in the 4th quarter. Corient Private Wealth LLC now owns 22,562 shares of the company’s stock worth $227,000 after buying an additional 1,794 shares during the last quarter. Rockefeller Capital Management L.P. boosted 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 worth $26,000 after buying an additional 2,100 shares in the last quarter. Finally, Assetmark Inc. grew its position in AdaptHealth by 54.8% during the first quarter. Assetmark Inc. now owns 6,952 shares of the company’s stock valued at $83,000 after acquiring an additional 2,460 shares during the last quarter. 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.