AdaptHealth (NASDAQ:AHCO) Hits New 52-Week High - Here's Why

Key Points

• 52-week high: AdaptHealth (NASDAQ:AHCO) traded as high as $12.55 on Monday (last $12.378) with about 117,019 shares changing hands.
• Earnings miss but revenue beat: The company reported a surprise loss of ($0.76) EPS vs. $0.34 expected while revenue of $846.3M topped estimates, and it still shows a negative net margin and a negative P/E.
• Insider buying and analyst stance: Major shareholder Richard M. Cashin Jr. bought 447,100 shares at roughly $9.91, insiders have been net buyers recently, and analysts hold a consensus Moderate Buy with a $13.25 price target.

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $12.55 and last traded at $12.3780, with a volume of 117019 shares. The stock had previously closed at $12.17.

Wall Street Analyst Weigh In

Several brokerages recently commented on AHCO. Leerink Partners decreased their target price on shares of AdaptHealth from $13.00 to $12.00 and set an "outperform" rating on the stock in a research note on Thursday, February 26th. Weiss Ratings downgraded shares of AdaptHealth from a "hold (c-)" rating to a "sell (d)" rating in a research note on Wednesday, February 25th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $13.00 target price on shares of AdaptHealth in a research note on Wednesday, February 25th. Zacks Research raised shares of AdaptHealth from a "strong sell" rating to a "hold" rating in a research note on Thursday, January 1st. Finally, Wall Street Zen downgraded shares of AdaptHealth from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $13.25.

AdaptHealth Trading Down 0.2%

The firm has a market cap of $1.65 billion, a P/E ratio of -22.09, a PEG ratio of 1.40 and a beta of 1.50. The firm's fifty day moving average is $10.51 and its two-hundred day moving average is $9.98. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 1.15.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of $0.34 by ($1.10). The company had revenue of $846.29 million during the quarter, compared to the consensus estimate of $832.51 million. AdaptHealth had a negative net margin of 2.18% and a positive return on equity of 3.42%. The business's revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 EPS. Analysts predict that AdaptHealth Corp. will post 0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Richard M. Cashin, Jr. purchased 447,100 shares of the business's stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average price of $9.91 per share, for a total transaction of $4,430,761.00. Following the completion of the acquisition, the insider directly owned 16,312,698 shares in the company, valued at approximately $161,658,837.18. The trade was a 2.82% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired a total of 2,494,518 shares of company stock valued at $24,352,291 in the last quarter. Insiders own 1.55% of the company's stock.

Institutional Trading of AdaptHealth

Hedge funds have recently modified their holdings of the business. Rockefeller Capital Management L.P. boosted its holdings in shares of AdaptHealth by 433.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company's stock valued at $26,000 after buying an additional 2,100 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of AdaptHealth during the 3rd quarter valued at $35,000. PNC Financial Services Group Inc. boosted its holdings in shares of AdaptHealth by 22.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company's stock valued at $70,000 after buying an additional 1,279 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of AdaptHealth by 318.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company's stock valued at $90,000 after buying an additional 7,297 shares in the last quarter. Finally, Tidal Investments LLC bought a new stake in shares of AdaptHealth during the 2nd quarter valued at $96,000. Institutional investors 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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