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

Key Points

• AdaptHealth has a consensus analyst rating of “Moderate Buy” from eight covering analysts, with an average 12-month price target of about $14.29.
• The company recently reported Q1 earnings of -$0.12 per share, missing estimates, though revenue of $819.8 million beat expectations and rose 5.4% year over year.
• Insider activity was mixed: major shareholder Richard M. Cashin, Jr. bought shares, while insider Russell E. Schuster III sold shares in a pre-arranged trading plan; institutional investors still hold 82.67% of the stock.

Shares of AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the eight analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $14.2857.

A number of research analysts have weighed in on the stock. Royal Bank Of Canada lifted their price objective on shares of AdaptHealth from $13.00 to $15.00 and gave the company an "outperform" rating in a report on Monday, May 11th. UBS Group cut their price objective on shares of AdaptHealth from $15.00 to $14.00 and set a "buy" rating for the company in a report on Wednesday, May 6th. Truist Financial lifted their price objective on shares of AdaptHealth from $13.00 to $14.00 and gave the company a "buy" rating in a report on Monday, April 13th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of AdaptHealth in a report on Friday, May 22nd. Finally, Leerink Partners cut their price objective on shares of AdaptHealth from $13.00 to $12.00 and set an "outperform" rating for the company in a report on Thursday, February 26th.

AdaptHealth Trading Up 0.1%

Shares of AdaptHealth stock opened at $9.73 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.92 and a quick ratio of 0.71. The firm has a fifty day moving average price of $11.53 and a 200 day moving average price of $10.55. AdaptHealth has a 1 year low of $8.06 and a 1 year high of $13.43. The stock has a market cap of $1.32 billion, a PE ratio of -15.69, a price-to-earnings-growth ratio of 0.55 and a beta of 1.47.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.13). AdaptHealth had a positive return on equity of 2.76% and a negative net margin of 2.42%.The business had revenue of $819.80 million for the quarter, compared to analysts' expectations of $796.63 million. During the same period last year, the business earned ($0.05) EPS. The company's revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts predict that AdaptHealth will post 0.63 earnings per share for the current year.

Insider Activity

In related news, major shareholder Richard M. Cashin, Jr. bought 447,100 shares of the company's stock in a transaction dated Friday, March 20th. The shares were acquired at an average price of $9.91 per share, for a total transaction of $4,430,761.00. Following the completion of the transaction, the insider directly owned 16,312,698 shares in the company, valued at $161,658,837.18. This trade represents a 2.82% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Russell E. Schuster III sold 11,275 shares of AdaptHealth stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $10.06, for a total transaction of $113,426.50. Following the completion of the sale, the insider owned 136,538 shares in the company, valued at approximately $1,373,572.28. This trade represents a 7.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders bought 2,494,518 shares of company stock worth $24,352,291. Company insiders own 1.95% of the company's stock.

Institutional Trading of AdaptHealth

Several institutional investors have recently modified their holdings of AHCO. PNC Financial Services Group Inc. boosted its position 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 acquiring an additional 1,279 shares during the last quarter. MetLife Investment Management LLC boosted its position in AdaptHealth by 3.1% during the fourth quarter. MetLife Investment Management LLC now owns 57,364 shares of the company's stock worth $571,000 after acquiring an additional 1,749 shares during the last quarter. Corient Private Wealth LLC boosted its position in AdaptHealth by 8.6% during the fourth quarter. Corient Private Wealth LLC now owns 22,562 shares of the company's stock worth $227,000 after acquiring an additional 1,794 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in AdaptHealth by 433.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company's stock worth $26,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in AdaptHealth by 9.3% during the third quarter. Arizona State Retirement System now owns 27,937 shares of the company's stock worth $250,000 after acquiring an additional 2,367 shares during the last quarter. Institutional investors and hedge funds 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.

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