AdaptHealth Corp. (NASDAQ:AHCO) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analyst consensus: Six analysts give AdaptHealth a consensus rating of "Moderate Buy" (breakdown: 4 buys, 1 hold, 1 sell) with an average 12‑month price target of $13.50.
• Insider buying and institutional ownership: Major shareholder Richard M. Cashin, Jr. purchased 447,100 shares at $9.91 ($4.43M), insiders acquired 2,494,518 shares (~$24.35M) in the last three months, and institutions/hedge funds own ~82.7% of the stock.
• Recent results: AdaptHealth reported a sharp EPS miss of ($0.76) versus a $0.34 estimate while revenue of $846.3M slightly beat expectations but was down 1.2% year‑over‑year and the company posted a negative net margin.

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) has received a consensus rating of "Moderate Buy" from the six analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $13.50.

Several equities analysts have issued reports on AHCO shares. Weiss Ratings lowered AdaptHealth from a "hold (c-)" rating to a "sell (d)" rating in a research note on Wednesday, February 25th. Truist Financial increased their target price on shares of AdaptHealth from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Monday. Leerink Partners cut their price target on shares of AdaptHealth from $13.00 to $12.00 and set an "outperform" rating on the stock in a report on Thursday, February 26th. Zacks Research raised AdaptHealth from a "strong sell" rating to a "hold" rating in a research report on Thursday, January 1st. Finally, Wall Street Zen cut AdaptHealth from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th.

Insider Activity at AdaptHealth

In other news, major shareholder Richard M. Cashin, Jr. bought 447,100 shares of the business's stock in a transaction that occurred on Friday, March 20th. The shares were purchased at an average cost of $9.91 per share, with a total value of $4,430,761.00. Following the transaction, the insider directly owned 16,312,698 shares in the company, valued at approximately $161,658,837.18. The trade was a 2.82% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired 2,494,518 shares of company stock worth $24,352,291 in the last three months. Insiders own 1.55% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of AdaptHealth by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 11,768,599 shares of the company's stock worth $117,215,000 after acquiring an additional 491,106 shares during the period. Deerfield Management Company L.P. boosted its holdings in AdaptHealth by 15.9% in the third quarter. Deerfield Management Company L.P. now owns 11,477,730 shares of the company's stock valued at $102,726,000 after purchasing an additional 1,572,835 shares during the last quarter. Reinhart Partners LLC. grew its position in AdaptHealth by 10.6% during the 4th quarter. Reinhart Partners LLC. now owns 8,100,785 shares of the company's stock worth $80,684,000 after purchasing an additional 773,727 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of AdaptHealth by 7.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,402,699 shares of the company's stock valued at $63,773,000 after buying an additional 420,629 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of AdaptHealth by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 2,627,306 shares of the company's stock valued at $26,173,000 after buying an additional 19,998 shares during the last quarter. 82.67% of the stock is currently owned by hedge funds and other institutional investors.

AdaptHealth Stock Down 0.9%

Shares of NASDAQ AHCO opened at $12.65 on Thursday. AdaptHealth has a 52-week low of $7.11 and a 52-week high of $12.87. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -23.00, a PEG ratio of 1.47 and a beta of 1.50. The stock has a 50 day moving average price of $10.66 and a 200 day moving average price of $10.05. 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 (NASDAQ:AHCO - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($1.10). AdaptHealth had a positive return on equity of 3.42% and a negative net margin of 2.18%.The firm had revenue of $846.29 million for the quarter, compared to the consensus estimate of $832.51 million. During the same period in the previous year, the company posted $0.34 EPS. AdaptHealth's quarterly revenue was down 1.2% compared to the same quarter last year. Sell-side analysts expect that AdaptHealth will post 0.88 earnings per share for the current year.

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.

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