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

Key Points

• AdaptHealth has been upgraded by Wall Street Zen from a "buy" to a "strong-buy" rating, indicating increased analyst confidence in the company's performance.
• Despite the upgrade, the company has mixed ratings from other analysts, with Weiss Ratings giving a "sell" rating and Zacks lowering their rating to "strong sell."
• Institutional investors are actively engaging with AdaptHealth, with several hedge funds significantly increasing their holdings in the company during recent quarters.

AdaptHealth (NASDAQ:AHCO - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Sunday.

A number of other analysts have also recently weighed in on AHCO. Weiss Ratings reissued a "sell (d+)" rating on shares of AdaptHealth in a report on Wednesday, October 8th. Zacks Research lowered shares of AdaptHealth from a "hold" rating to a "strong sell" rating in a research report on Friday, September 19th. Five analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $13.40.

AdaptHealth Stock Up 0.1%

AHCO stock opened at $9.14 on Friday. 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 twelve month low of $7.11 and a twelve month high of $11.63. The company's 50 day moving average is $9.18 and its two-hundred day moving average is $9.01. The stock has a market cap of $1.24 billion, a P/E ratio of 16.93, a PEG ratio of 1.13 and a beta of 1.61.

Insiders Place Their Bets

In related news, Director David Solomon Williams III sold 8,200 shares of AdaptHealth stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $9.73, for a total value of $79,786.00. Following the transaction, the director directly owned 50,045 shares in the company, valued at $486,937.85. This trade represents a 14.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AdaptHealth

Hedge funds and other institutional investors have recently bought and sold shares of the company. AlphaQuest LLC grew its position in AdaptHealth by 275.7% in the 2nd quarter. AlphaQuest LLC now owns 3,941 shares of the company's stock valued at $37,000 after buying an additional 2,892 shares during the last quarter. Assetmark Inc. lifted its holdings in AdaptHealth by 87.6% in the second quarter. Assetmark Inc. now owns 5,529 shares of the company's stock valued at $52,000 after acquiring an additional 2,581 shares during the period. GAMMA Investing LLC lifted its holdings in AdaptHealth by 175.2% in the first quarter. GAMMA Investing LLC now owns 7,473 shares of the company's stock valued at $81,000 after acquiring an additional 4,758 shares during the period. Brooklyn Investment Group lifted its holdings in AdaptHealth by 531.8% in the first quarter. Brooklyn Investment Group now owns 7,563 shares of the company's stock valued at $82,000 after acquiring an additional 6,366 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings 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 acquiring an additional 7,297 shares during the period. 82.67% of the stock is currently owned by hedge funds and other institutional investors.

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.

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