AdaptHealth (NASDAQ:AHCO) Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded AdaptHealth from hold to buy, adding to a generally positive analyst backdrop for the stock.
• Analyst opinion is mixed but constructive overall: five analysts rate AHCO a Buy, two a Hold, and one a Sell, with a consensus rating of Moderate Buy and an average price target of $14.29.
• AdaptHealth recently reported Q1 revenue of $819.8 million, topping estimates, but EPS of -$0.12 missed expectations; the stock opened at $10.16 and remains well below its 52-week high of $13.43.

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

Several other equities research analysts have also recently issued reports on AHCO. Robert W. Baird set a $18.00 price objective on AdaptHealth in a report on Wednesday, May 6th. Weiss Ratings restated a "sell (d)" rating on shares of AdaptHealth in a report on Friday, May 22nd. Royal Bank Of Canada raised their price objective on AdaptHealth from $13.00 to $15.00 and gave the stock an "outperform" rating in a report on Monday, May 11th. Truist Financial raised their price objective on AdaptHealth from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Monday, April 13th. Finally, Jefferies Financial Group restated a "hold" rating and set a $11.00 price objective on shares of AdaptHealth in a report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $14.29.

AdaptHealth Price Performance

Shares of NASDAQ:AHCO opened at $10.16 on Friday. AdaptHealth has a one year low of $8.06 and a one year high of $13.43. The business's fifty day moving average price is $11.34 and its two-hundred day moving average price is $10.57. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.71 and a current ratio of 0.92. The stock has a market cap of $1.38 billion, a PE ratio of -16.39, a price-to-earnings-growth ratio of 0.52 and a beta of 1.47.

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

Insiders Place Their Bets

In other news, major shareholder Richard M. Cashin, Jr. bought 447,100 shares of AdaptHealth stock in a transaction that occurred on Friday, March 20th. The shares were purchased 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 owned 16,312,698 shares of the company's stock, valued at $161,658,837.18. The trade was a 2.82% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the insider owned 136,538 shares in the company, valued at $1,373,572.28. The trade was a 7.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its holdings in AdaptHealth by 433.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company's stock valued at $26,000 after acquiring an additional 2,100 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in AdaptHealth in the third quarter valued at about $35,000. Assetmark Inc. raised its position in AdaptHealth by 54.8% in the first quarter. Assetmark Inc. now owns 6,952 shares of the company's stock valued at $83,000 after purchasing an additional 2,460 shares during the period. PNC Financial Services Group Inc. raised its position in AdaptHealth by 22.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company's stock valued at $70,000 after purchasing an additional 1,279 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in AdaptHealth by 318.0% in the second quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company's stock valued at $90,000 after purchasing an additional 7,297 shares during the period. 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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