AdaptHealth (NASDAQ:AHCO) Stock Rating Upgraded by Jefferies Financial Group

Key Points

• Jefferies Financial Group upgraded AdaptHealth from “hold” to “buy” and raised its price target to $13 from $11. The new target implies about 18.4% upside from the stock’s current price.
• Analyst sentiment is generally positive, with seven Buy ratings, one Hold, and one Sell. MarketBeat’s consensus view is a “Moderate Buy” with a $14.14 average price target.
• AdaptHealth shares opened at $10.98, below the new analyst target, while the company’s recent insider and institutional activity has been mixed. An insider sold shares in June, but institutional investors remain the dominant holders at 82.67% ownership.

AdaptHealth (NASDAQ:AHCO - Get Free Report) was upgraded by equities research analysts at Jefferies Financial Group from a "hold" rating to a "buy" rating in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a $13.00 price target on the stock, up from their prior price target of $11.00. Jefferies Financial Group's price target would suggest a potential upside of 18.40% from the stock's current price.

AHCO has been the subject of several other research reports. Robert W. Baird cut their target price on AdaptHealth from $18.00 to $15.00 and set an "outperform" rating for the company in a research note on Monday, July 6th. Royal Bank Of Canada boosted their price target on shares of AdaptHealth from $13.00 to $15.00 and gave the company an "outperform" rating in a research report on Monday, May 11th. Canaccord Genuity Group boosted their target price on AdaptHealth from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. UBS Group cut their price objective on AdaptHealth from $15.00 to $14.00 and set a "buy" rating for the company in a report on Wednesday, May 6th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of AdaptHealth in a research report on Friday, May 22nd. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.14.

AdaptHealth Stock Performance

NASDAQ AHCO opened at $10.98 on Tuesday. The firm has a market cap of $1.49 billion, a P/E ratio of -17.71, a price-to-earnings-growth ratio of 0.56 and a beta of 1.45. The company has a quick ratio of 0.71, a current ratio of 0.92 and a debt-to-equity ratio of 1.21. The company's 50 day moving average is $10.25 and its 200-day moving average is $10.63. AdaptHealth has a 12-month low of $8.51 and a 12-month high of $13.43.

Insiders Place Their Bets

In other AdaptHealth news, insider Russell E. Schuster III sold 11,275 shares of the firm's 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 sale, the insider owned 136,538 shares of the company's stock, valued at $1,373,572.28. This trade represents a 7.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.95% of the stock is owned by insiders.

Hedge Funds Weigh In On AdaptHealth

Hedge funds and other institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. grew its stake in shares of AdaptHealth by 433.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company's stock worth $26,000 after purchasing an additional 2,100 shares during the last quarter. Assetmark Inc. increased its holdings in AdaptHealth by 54.8% during the 1st 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% during the 4th 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 last quarter. Tower Research Capital LLC TRC raised its position in 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 purchasing an additional 7,297 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in AdaptHealth in the 1st quarter worth approximately $120,000. 82.67% of the stock is owned by 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.

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