AdaptHealth (NASDAQ:AHCO) Stock Rating Upgraded by Wall Street Zen

Key Points

• AdaptHealth's stock rating was upgraded by Wall Street Zen from a "buy" to a "strong-buy," indicating positive analyst sentiment.
• Despite the upgrade, Weiss Ratings reiterated a "sell" rating, while Zacks Research downgraded the stock to "strong sell," reflecting mixed views among analysts.
• AdaptHealth's stock price currently sits at $9.09, with a consensus rating of "Hold" and an average target price of $13.40.

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

A number of other research firms have also issued reports on AHCO. Weiss Ratings reiterated a "sell (d+)" rating on shares of AdaptHealth in a research note on Saturday, September 27th. Zacks Research downgraded shares of AdaptHealth from a "hold" rating to a "strong sell" rating in a report on Friday, September 19th. Five research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, AdaptHealth presently has a consensus rating of "Hold" and an average target price of $13.40.

AdaptHealth Stock Performance

NASDAQ:AHCO traded down $0.35 during midday trading on Friday, reaching $9.09. The stock had a trading volume of 1,374,173 shares, compared to its average volume of 1,040,425. AdaptHealth has a 1-year low of $7.11 and a 1-year high of $11.63. The firm's fifty day simple moving average is $9.25 and its 200-day simple moving average is $9.12. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.06 and a quick ratio of 0.82. The stock has a market capitalization of $1.23 billion, a P/E ratio of 16.83, a PEG ratio of 1.05 and a beta of 1.61.

Insider Activity at AdaptHealth

In other news, Director David Solomon Williams III sold 8,200 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $9.73, for a total transaction of $79,786.00. Following the completion of the transaction, the director directly owned 50,045 shares of the company's stock, valued at approximately $486,937.85. This trade represents a 14.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.55% of the company's stock.

Institutional Investors Weigh In On AdaptHealth

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of AdaptHealth by 21.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 197,901 shares of the company's stock worth $1,884,000 after buying an additional 35,431 shares during the period. GAMMA Investing LLC grew its position in shares of AdaptHealth by 2,883.7% during the 1st quarter. GAMMA Investing LLC now owns 81,007 shares of the company's stock worth $878,000 after buying an additional 78,292 shares during the period. Reinhart Partners LLC. grew its position in shares of AdaptHealth by 15.5% during the 1st quarter. Reinhart Partners LLC. now owns 7,236,262 shares of the company's stock worth $78,441,000 after buying an additional 969,408 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of AdaptHealth by 23.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 586,443 shares of the company's stock worth $6,357,000 after buying an additional 111,721 shares during the period. Finally, SummerHaven Investment Management LLC grew its position in shares of AdaptHealth by 1.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 79,883 shares of the company's stock worth $866,000 after buying an additional 1,329 shares during the period. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.