AdaptHealth (NASDAQ:AHCO) Downgraded by Wall Street Zen to "Buy"

Key Points

• AdaptHealth was downgraded by Wall Street Zen from a "strong-buy" to a "buy" rating, reflecting cautious market sentiment regarding the stock.
• The consensus rating for AdaptHealth currently stands at "Hold," with a target price of $13.40, as indicated by multiple brokerages' analyses.
• Institutional investors own 82.67% of AdaptHealth's stock, showcasing significant institutional interest in the company.

AdaptHealth (NASDAQ:AHCO - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Saturday.

A number of other brokerages have also recently commented on AHCO. Weiss Ratings restated a "sell (d+)" rating on shares of AdaptHealth in a report on Wednesday. Zacks Research cut shares of AdaptHealth from a "hold" rating to a "strong sell" rating in a report on Friday, September 19th. Five investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $13.40.

AdaptHealth Stock Performance

Shares of AHCO stock opened at $8.70 on Friday. AdaptHealth has a 12 month low of $7.11 and a 12 month high of $11.63. The stock has a market cap of $1.18 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 1.10 and a beta of 1.61. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.14. The company's fifty day moving average price is $9.23 and its 200-day moving average price is $9.08.

Insider Transactions at AdaptHealth

In related news, Director David Solomon Williams III sold 8,200 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $9.73, for a total value of $79,786.00. Following the transaction, the director owned 50,045 shares in the company, valued at $486,937.85. The trade was a 14.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AdaptHealth

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC lifted its stake in AdaptHealth by 1.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 80,301 shares of the company's stock valued at $757,000 after acquiring an additional 1,511 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of AdaptHealth by 6.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,095 shares of the company's stock valued at $256,000 after purchasing an additional 1,671 shares during the last quarter. SummerHaven Investment Management LLC increased its position in shares of AdaptHealth by 2.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 81,771 shares of the company's stock valued at $771,000 after purchasing an additional 1,888 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of AdaptHealth by 6.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 32,797 shares of the company's stock valued at $356,000 after purchasing an additional 2,081 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of AdaptHealth by 4.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 62,807 shares of the company's stock valued at $592,000 after purchasing an additional 2,418 shares during the last quarter. Institutional investors own 82.67% of the company's stock.

AdaptHealth Company Profile

AdaptHealth Corp., together with its subsidiaries, sells home medical equipment (HME), medical supplies, and home and related services in the United States. The company provides sleep therapy equipment, supplies, and related services, such as CPAP and bi-PAP services to individuals suffering from obstructive sleep apnea; medical devices and supplies, including continuous glucose monitors and insulin pumps for the treatment of diabetes; HME to patients discharged from acute care and other facilities; oxygen and related chronic therapy services in the home; and other HME devices and supplies on behalf of chronically ill patients with wound care, urological, incontinence, ostomy, and nutritional supply needs.

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