AdaptHealth (NASDAQ:AHCO) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded AdaptHealth from “buy” to “hold,” adding to a mixed analyst picture on the stock. Overall, MarketBeat data shows a Moderate Buy consensus with a $14.29 average price target.
• AdaptHealth reported better-than-expected revenue of $819.8 million in its latest quarter, but missed EPS estimates with a loss of $0.12 per share versus expectations for a small profit. The company’s revenue still rose 5.4% year over year.
• Shares were up 1.6% to $9.89, while insider activity showed both buying and selling, including a recent sale by an executive and a larger purchase by a major shareholder. Institutional ownership remains high at 82.67%.

AdaptHealth (NASDAQ:AHCO - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Several other equities analysts have also recently commented on AHCO. Leerink Partners lowered 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. Jefferies Financial Group restated a "hold" rating and set a $11.00 price target on shares of AdaptHealth in a report on Monday, April 20th. Canaccord Genuity Group boosted their price target on shares of AdaptHealth from $14.00 to $16.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. UBS Group reduced their price objective on shares of AdaptHealth from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Wednesday, May 6th. Finally, 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 research note on Monday, April 13th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $14.29.

AdaptHealth Trading Up 1.6%

AdaptHealth stock opened at $9.89 on Friday. The company's fifty day simple moving average is $11.50 and its 200-day simple moving average is $10.55. The company has a quick ratio of 0.71, a current ratio of 0.92 and a debt-to-equity ratio of 1.21. AdaptHealth has a 12 month low of $8.06 and a 12 month high of $13.43. The stock has a market cap of $1.34 billion, a P/E ratio of -15.95, a P/E/G ratio of 0.49 and a beta of 1.47.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.13). AdaptHealth had a negative net margin of 2.42% and a positive return on equity of 2.76%. The company had revenue of $819.80 million for the quarter, compared to analysts' expectations of $796.63 million. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. The company's revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts forecast that AdaptHealth will post 0.44 EPS for the current fiscal year.

Insider Buying and Selling at AdaptHealth

In related news, insider Russell E. Schuster III sold 11,275 shares of AdaptHealth stock in a transaction 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 completion of the sale, the insider owned 136,538 shares of the company's stock, valued at approximately $1,373,572.28. The trade was a 7.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Richard M. Cashin, Jr. acquired 447,100 shares of AdaptHealth stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average cost of $9.91 per share, with a total value of $4,430,761.00. Following the purchase, the insider owned 16,312,698 shares in the company, valued at $161,658,837.18. The trade was a 2.82% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 2,494,518 shares of company stock valued at $24,352,291. 1.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AHCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in AdaptHealth by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,495 shares of the company's stock worth $656,000 after acquiring an additional 2,564 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in AdaptHealth by 32.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 571,232 shares of the company's stock worth $6,192,000 after acquiring an additional 139,828 shares during the last quarter. Woodline Partners LP acquired a new position in AdaptHealth during the 1st quarter worth $2,851,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in AdaptHealth by 18.1% during the 1st 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 acquiring an additional 35,879 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in AdaptHealth by 1.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 211,769 shares of the company's stock worth $1,997,000 after acquiring an additional 2,718 shares during the last quarter. Institutional investors and hedge funds own 82.67% of the company's stock.

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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