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

Key Points

• Wall Street Zen upgraded AdaptHealth from hold to buy, adding to a mixed but generally favorable analyst backdrop. MarketBeat says the stock now carries a consensus rating of Moderate Buy with an average target price of $14.00.
• AdaptHealth shares were down 3.7% to open at $11.30, leaving the company with a market cap of about $1.54 billion. The stock has traded between $8.06 and $13.43 over the past year.
• The company recently reported better-than-expected revenue of $819.8 million for the quarter, but earnings came in at -$0.12 per share, missing estimates. Insiders and institutional investors have also been active buyers, including a major shareholder purchase and increased holdings by several large funds.

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

Several other analysts also recently weighed in on the stock. Leerink Partners dropped their target price on shares of AdaptHealth from $13.00 to $12.00 and set an "outperform" rating on the stock in a research report on Thursday, February 26th. Canaccord Genuity Group boosted their target price on shares of AdaptHealth from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Wednesday. Robert W. Baird set a $18.00 target price on shares of AdaptHealth in a research report on Wednesday. UBS Group dropped their target price on shares of AdaptHealth from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Weiss Ratings downgraded shares of AdaptHealth from a "hold (c-)" rating to a "sell (d)" rating in a research report on Wednesday, February 25th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $14.00.

AdaptHealth Stock Down 3.7%

NASDAQ:AHCO opened at $11.30 on Friday. The company has a market cap of $1.54 billion, a PE ratio of -18.23, a P/E/G ratio of 0.53 and a beta of 1.57. AdaptHealth has a twelve month low of $8.06 and a twelve month high of $13.43. The company has a current ratio of 0.92, a quick ratio of 0.81 and a debt-to-equity ratio of 1.21. The company's 50 day moving average is $11.31 and its two-hundred day moving average is $10.41.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.13). The company had revenue of $819.80 million for the quarter, compared to analysts' expectations of $796.63 million. AdaptHealth had a positive return on equity of 2.76% and a negative net margin of 2.42%.The firm's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.05) EPS. Analysts anticipate that AdaptHealth will post 0.79 EPS for the current year.

Insider Activity at AdaptHealth

In other AdaptHealth news, major shareholder Richard M. Cashin, Jr. acquired 447,100 shares of the company's stock in a transaction dated Friday, March 20th. The shares were acquired at an average cost of $9.91 per share, with a total value of $4,430,761.00. Following the acquisition, the insider directly owned 16,312,698 shares of the company's stock, valued at approximately $161,658,837.18. The trade was a 2.82% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Over the last quarter, insiders have acquired 2,494,518 shares of company stock valued at $24,352,291. 1.55% of the stock is owned by corporate insiders.

Institutional Trading of AdaptHealth

Several large investors have recently made changes to their positions in AHCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of AdaptHealth by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,495 shares of the company's stock valued at $656,000 after acquiring an additional 2,564 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of AdaptHealth by 32.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 571,232 shares of the company's stock valued at $6,192,000 after acquiring an additional 139,828 shares during the last quarter. Woodline Partners LP purchased a new stake in shares of AdaptHealth in the 1st quarter valued at $2,851,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of AdaptHealth by 18.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,780 shares of the company's stock valued at $2,534,000 after acquiring an additional 35,879 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of AdaptHealth by 1.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 211,769 shares of the company's stock valued at $1,997,000 after acquiring an additional 2,718 shares during the last quarter. 82.67% of the stock is owned by hedge funds and other institutional investors.

About AdaptHealth

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.