AdaptHealth Corp. (NASDAQ:AHCO) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• AdaptHealth Corp. (NASDAQ:AHCO) received a consensus analyst rating of “Moderate Buy” from nine brokerages, with seven buy ratings, one hold, and one sell. The average 1-year price target is about $14.14.
• Recent analyst actions were mostly positive, including Jefferies upgrading the stock to buy and raising its target to $13, while other firms such as Canaccord Genuity and Truist also lifted price targets.
• Insider and institutional activity was notable: insider Russell E. Schuster III sold shares in a pre-arranged trading plan, while hedge funds and other institutional investors continue to hold a large majority of the stock, at 82.67%.

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) has been assigned an average rating of "Moderate Buy" from the nine brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $14.1429.

Several research analysts have issued reports on AHCO shares. Jefferies Financial Group raised AdaptHealth from a "hold" rating to a "buy" rating and upped their price objective for the stock from $11.00 to $13.00 in a report on Tuesday. Robert W. Baird dropped their target price on AdaptHealth from $18.00 to $15.00 and set an "outperform" rating for the company in a research report on Monday, July 6th. Canaccord Genuity Group upped their price target on AdaptHealth from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Wall Street Zen upgraded AdaptHealth from a "hold" rating to a "buy" rating in a report on Sunday, June 14th. Finally, Truist Financial raised their price target on AdaptHealth from $13.00 to $14.00 and gave the company a "buy" rating in a report on Monday, April 13th.

Insider Activity

In other news, insider Russell E. Schuster III sold 11,275 shares of AdaptHealth stock in a transaction that occurred on 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 $1,373,572.28. The trade was a 7.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.95% of the company's stock.

Hedge Funds Weigh In On AdaptHealth

Several large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its holdings in AdaptHealth by 22.3% during the 4th 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 period. MetLife Investment Management LLC raised its position 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 acquiring an additional 1,749 shares during the last quarter. Corient Private Wealth LLC lifted 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 during the period. Rockefeller Capital Management L.P. lifted 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 during the period. Finally, Assetmark Inc. boosted its position in shares of AdaptHealth by 54.8% in the 1st quarter. Assetmark Inc. now owns 6,952 shares of the company's stock worth $83,000 after purchasing an additional 2,460 shares during the last quarter. 82.67% of the stock is currently owned by institutional investors and hedge funds.

AdaptHealth Price Performance

AHCO opened at $10.76 on Friday. AdaptHealth has a one year low of $8.51 and a one year high of $13.43. 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 company's 50 day simple moving average is $10.24 and its 200-day simple moving average is $10.65. The stock has a market capitalization of $1.46 billion, a P/E ratio of -17.35, a price-to-earnings-growth ratio of 0.53 and a beta of 1.45.

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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