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

Key Points

• Analysts maintain a “Moderate Buy” consensus on AdaptHealth, with seven buys, one hold and one sell among nine analysts. The average 12-month price target is $10.29, though recent targets have varied significantly.
• AdaptHealth reported a substantial quarterly miss, posting an adjusted loss of $0.99 per share versus expectations for $0.17 in earnings, while revenue of $740.3 million fell 7.5% year over year and missed estimates.
• The stock opened at $5.82, near its 52-week low of $5.21 and well below its 50-day and 200-day moving averages. A company director purchased 23,500 shares, while institutional investors own 82.67% of the stock.

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) has earned an average rating of "Moderate Buy" from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $10.2857.

AHCO has been the topic of several research analyst reports. Wall Street Zen lowered shares of AdaptHealth from a "hold" rating to a "sell" rating in a research report on Sunday. Robert W. Baird set a $10.00 target price on shares of AdaptHealth in a research note on Wednesday, August 5th. Jefferies Financial Group raised AdaptHealth from a "hold" rating to a "buy" rating and lifted their target price for the stock from $11.00 to $13.00 in a research report on Tuesday, July 21st. Weiss Ratings restated a "sell (d)" rating on shares of AdaptHealth in a research note on Friday, May 22nd. Finally, Truist Financial cut their price target on AdaptHealth from $14.00 to $9.00 and set a "buy" rating for the company in a report on Wednesday, August 5th.

Insider Activity at AdaptHealth

In other news, Director Kenneth A. Samet acquired 23,500 shares of the stock in a transaction dated Thursday, August 6th. The shares were acquired at an average cost of $6.38 per share, for a total transaction 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. This trade represents a 93.74% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Russell E. Schuster III sold 11,275 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $10.06, for a total value of $113,426.50. Following the sale, the insider owned 136,538 shares in the company, valued at approximately $1,373,572.28. This represents a 7.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.95% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AdaptHealth

A number of hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of AdaptHealth by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,495 shares of the company's stock valued at $656,000 after acquiring an additional 2,564 shares in the last quarter. Goldman Sachs Group Inc. raised its position in AdaptHealth by 32.4% in the first quarter. Goldman Sachs Group Inc. now owns 571,232 shares of the company's stock worth $6,192,000 after purchasing an additional 139,828 shares in the last quarter. Woodline Partners LP acquired a new position in AdaptHealth in the first quarter worth about $2,851,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in AdaptHealth by 18.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,780 shares of the company's stock worth $2,534,000 after purchasing an additional 35,879 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in AdaptHealth by 1.3% during the second quarter. JPMorgan Chase & Co. now owns 211,769 shares of the company's stock worth $1,997,000 after purchasing an additional 2,718 shares during the period. Institutional investors and hedge funds own 82.67% of the company's stock.

AdaptHealth Stock Up 0.2%

AHCO opened at $5.82 on Wednesday. The business has a 50 day moving average of $9.39 and a 200-day moving average of $10.33. The stock has a market capitalization of $793.50 million, a price-to-earnings ratio of -3.40, a P/E/G ratio of 0.30 and a beta of 1.47. The company has a current ratio of 1.12, a quick ratio of 0.98 and a debt-to-equity ratio of 1.37. AdaptHealth has a 1-year low of $5.21 and a 1-year high of $13.43.

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