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

Key Points

• Wall Street Zen downgraded AdaptHealth to “sell” from “hold,” despite the broader analyst consensus remaining “Moderate Buy” with an average price target of $10.29.
• AdaptHealth shares opened at $5.81, near their 52-week low of $5.21 and well below the 50-day and 200-day moving averages of $9.55 and $10.39, respectively.
• Director Kenneth A. Samet purchased 23,500 shares for approximately $149,930, while institutional investors own a substantial 82.67% of the company’s stock.

AdaptHealth (NASDAQ:AHCO - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Sunday.

A number of other equities analysts also recently commented on the company. Truist Financial decreased their price target on AdaptHealth from $14.00 to $9.00 and set a "buy" rating for the company in a research note on Wednesday, August 5th. UBS Group cut their price objective on AdaptHealth from $14.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of AdaptHealth in a report on Friday, May 22nd. Royal Bank Of Canada decreased their target price on AdaptHealth from $15.00 to $8.00 and set an "outperform" rating for the company in a research report on Thursday, August 6th. Finally, Canaccord Genuity Group set a $10.00 price target on AdaptHealth in a report on Wednesday, August 5th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $10.29.

AdaptHealth Price Performance

AHCO opened at $5.81 on Friday. The company has a 50-day moving average of $9.55 and a 200-day moving average of $10.39. The company has a market capitalization of $792.14 million, a P/E ratio of -3.40, a PEG ratio of 0.30 and a beta of 1.47. AdaptHealth has a 1-year low of $5.21 and a 1-year high of $13.43. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.98 and a current ratio of 1.12.

Insider Transactions at AdaptHealth

In other AdaptHealth news, Director Kenneth A. Samet bought 23,500 shares of the business's stock in a transaction on Thursday, August 6th. The shares were purchased at an average price of $6.38 per share, with a total value of $149,930.00. Following the completion of the acquisition, the director directly owned 48,569 shares of the company's stock, valued at approximately $309,870.22. The trade was a 93.74% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 value of $113,426.50. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.95% of the stock is owned by corporate insiders.

Institutional Trading of AdaptHealth

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Paradigm Capital Management Inc. NY acquired a new position in AdaptHealth during the 2nd quarter valued at approximately $1,263,000. Handelsbanken Fonder AB acquired a new stake in AdaptHealth in the second quarter worth $226,000. Empowered Funds LLC increased its position in AdaptHealth by 1.4% in the first quarter. Empowered Funds LLC now owns 622,904 shares of the company's stock worth $7,413,000 after buying an additional 8,602 shares during the period. Quantinno Capital Management LP lifted its stake in AdaptHealth by 140.0% in the first quarter. Quantinno Capital Management LP now owns 109,694 shares of the company's stock valued at $1,305,000 after buying an additional 63,992 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in AdaptHealth by 35.0% in the first quarter. Lazard Asset Management LLC now owns 1,669,454 shares of the company's stock valued at $19,867,000 after buying an additional 432,664 shares during the last quarter. 82.67% of the stock is currently owned by institutional investors and hedge funds.

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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