AdaptHealth (NASDAQ:AHCO) Earns Sell (D+) Rating from Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed AdaptHealth's stock rating as "sell (D+)", indicating potential investor concerns regarding its performance.
• Despite varying analyst ratings, the average target price for AdaptHealth is currently set at $13.40, with a consensus rating of "Hold".
• Major hedge funds have recently increased their holdings in AdaptHealth, suggesting a significant institutional interest in the company despite its current stock challenges.

AdaptHealth (NASDAQ:AHCO - Get Free Report)'s stock had its "sell (d+)" rating reaffirmed by investment analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

AHCO has been the topic of a number of other reports. Wall Street Zen upgraded AdaptHealth from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 3rd. Zacks Research cut AdaptHealth from a "hold" rating to a "strong sell" rating in a research report on Friday, September 19th. Five analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, AdaptHealth presently has an average rating of "Hold" and an average target price of $13.40.

AdaptHealth Stock Performance

NASDAQ:AHCO traded down $0.11 during trading hours on Wednesday, reaching $8.91. 154,752 shares of the stock were exchanged, compared to its average volume of 1,353,277. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 1.14. The firm has a 50 day simple moving average of $9.23 and a 200-day simple moving average of $9.10. AdaptHealth has a 52 week low of $7.11 and a 52 week high of $11.63. The stock has a market capitalization of $1.21 billion, a P/E ratio of 16.48, a P/E/G ratio of 1.00 and a beta of 1.61.

Insider Buying and Selling

In related news, Director David Solomon Williams III sold 8,200 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $9.73, for a total value of $79,786.00. Following the sale, the director directly owned 50,045 shares in the company, valued at $486,937.85. This trade represents a 14.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AdaptHealth

Several hedge funds have recently modified their holdings of AHCO. GAMMA Investing LLC increased its position in shares of AdaptHealth by 2,883.7% during the 1st quarter. GAMMA Investing LLC now owns 81,007 shares of the company's stock valued at $878,000 after purchasing an additional 78,292 shares during the period. Harbor Capital Advisors Inc. increased its position in shares of AdaptHealth by 23.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 586,443 shares of the company's stock valued at $6,357,000 after purchasing an additional 111,721 shares during the period. SummerHaven Investment Management LLC increased its position in shares of AdaptHealth by 1.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 79,883 shares of the company's stock valued at $866,000 after purchasing an additional 1,329 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of AdaptHealth during the 1st quarter valued at $854,000. Finally, 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 period. 82.67% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.