AdaptHealth Corp. (NASDAQ:AHCO) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• AdaptHealth has a consensus analyst rating of “Moderate Buy”, based on eight covering firms, with five buy ratings, two holds, and one sell. The average 1-year price target is $14.00.
• The company’s latest quarterly results showed revenue of $819.8 million, which beat expectations and rose 5.4% year over year, but EPS of -$0.12 missed analyst estimates.
• There was notable insider support, with major shareholder Richard M. Cashin, Jr. buying 820,528 shares in March. Insiders have purchased 2.49 million shares over the last three months, while institutional investors own 82.67% of the stock.

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eight ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $14.00.

AHCO has been the subject of a number of research reports. Royal Bank Of Canada reissued an "outperform" rating and issued a $13.00 price target on shares of AdaptHealth in a research note on Wednesday, February 25th. Jefferies Financial Group reissued a "hold" rating and issued a $11.00 price target on shares of AdaptHealth in a research note on Monday, April 20th. Truist Financial boosted their price target on shares of AdaptHealth from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Monday, April 13th. Leerink Partners cut their price target on shares of AdaptHealth from $13.00 to $12.00 and set an "outperform" rating for the company in a research note on Thursday, February 26th. Finally, Wall Street Zen raised shares of AdaptHealth from a "hold" rating to a "buy" rating in a research note on Saturday.

Insider Buying and Selling

In related news, major shareholder Richard M. Cashin, Jr. purchased 820,528 shares of the business's stock in a transaction on Tuesday, March 10th. The stock was acquired at an average price of $9.73 per share, with a total value of $7,983,737.44. Following the purchase, the insider directly owned 14,638,708 shares in the company, valued at approximately $142,434,628.84. This represents a 5.94% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have purchased 2,494,518 shares of company stock valued at $24,352,291. 1.95% of the stock is owned by insiders.

Institutional Investors Weigh In On AdaptHealth

A number of institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted 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 valued at $70,000 after purchasing an additional 1,279 shares in the last quarter. MetLife Investment Management LLC boosted its stake 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 valued at $571,000 after purchasing an additional 1,749 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of AdaptHealth by 8.6% in the 4th 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 in the last quarter. CWM LLC boosted its stake in shares of AdaptHealth by 17.5% in the 3rd quarter. CWM LLC now owns 12,306 shares of the company's stock valued at $110,000 after purchasing an additional 1,835 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of AdaptHealth by 433.0% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 82.67% of the company's stock.

AdaptHealth Stock Performance

AdaptHealth stock opened at $11.30 on Monday. The firm's 50 day simple moving average is $11.31 and its 200 day simple moving average is $10.41. The company has a current ratio of 0.92, a quick ratio of 0.71 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $1.54 billion, a PE ratio of -18.23, a price-to-earnings-growth ratio of 0.51 and a beta of 1.57. AdaptHealth has a 1-year low of $8.06 and a 1-year high of $13.43.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $819.80 million during the quarter, compared to analysts' expectations of $796.63 million. During the same period in the prior year, the firm earned ($0.05) EPS. AdaptHealth's quarterly revenue was up 5.4% on a year-over-year basis. As a group, analysts expect that AdaptHealth will post 0.79 earnings per share for the current fiscal year.

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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