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

Key Points

• AdaptHealth's rating was upgraded from "hold" to "buy" by analysts at Wall Street Zen, reflecting increased investor confidence.
• Equity analysts have adjusted their price targets, with Royal Bank of Canada and Truist Financial both lowering their targets to $13.00, while the average consensus target price remains at $13.40.
• Significant increases in institutional ownership have been reported, with firms like AlphaQuest LLC raising their stakes by over 275%, indicating strong interest from large investors.

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

Several other research firms also recently commented on AHCO. Royal Bank Of Canada cut their target price on shares of AdaptHealth from $14.00 to $13.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Truist Financial cut their target price on shares of AdaptHealth from $14.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, AdaptHealth currently has an average rating of "Buy" and a consensus target price of $13.40.

AdaptHealth Trading Up 1.8%

NASDAQ:AHCO traded up $0.17 during mid-day trading on Friday, hitting $9.50. 605,788 shares of the company's stock were exchanged, compared to its average volume of 1,451,880. The company has a 50 day simple moving average of $9.10 and a 200-day simple moving average of $9.30. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 1.14. AdaptHealth has a fifty-two week low of $7.11 and a fifty-two week high of $11.70. The firm has a market capitalization of $1.28 billion, a P/E ratio of 17.64, a PEG ratio of 0.89 and a beta of 1.58.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in AdaptHealth by 175.2% during the 1st quarter. GAMMA Investing LLC now owns 7,473 shares of the company's stock worth $81,000 after purchasing an additional 4,758 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of AdaptHealth by 6.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 32,797 shares of the company's stock valued at $356,000 after acquiring an additional 2,081 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of AdaptHealth by 3.3% in the 1st quarter. New York State Teachers Retirement System now owns 80,455 shares of the company's stock valued at $872,000 after acquiring an additional 2,600 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of AdaptHealth by 42.9% in the 4th quarter. Janus Henderson Group PLC now owns 38,298 shares of the company's stock valued at $364,000 after acquiring an additional 11,500 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in shares of AdaptHealth in the 1st quarter valued at $854,000. Institutional investors own 82.67% of the company's stock.

About AdaptHealth

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.