AdaptHealth Corp. (NASDAQ:AHCO) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analyst consensus: AdaptHealth has a “Moderate Buy” rating from nine analysts, with seven buys, one hold and one sell. The average 12-month price target is $10.29, though several firms recently lowered their targets.
• Weak financial performance: The company reported a quarterly loss of $0.99 per share versus expectations for $0.17 in earnings, while revenue of $740.3 million missed estimates and fell 7.5% year over year.
• Stock and ownership: Shares opened at $6.06, near the company’s 52-week low of $5.21 and well below its 50- and 200-day moving averages. Director Kenneth Samet bought 23,500 shares, while institutional investors own 82.67% of the stock.

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) has earned an average rating of "Moderate Buy" from the nine research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $10.2857.

A number of equities research analysts have recently commented on AHCO shares. Wall Street Zen cut shares of AdaptHealth from a "hold" rating to a "sell" rating in a research report on Sunday, August 16th. Robert W. Baird set a $10.00 price target on shares of AdaptHealth in a research note on Wednesday, August 5th. UBS Group lowered their price target on shares of AdaptHealth from $14.00 to $10.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Royal Bank Of Canada dropped their price objective on shares of AdaptHealth from $15.00 to $8.00 and set an "outperform" rating for the company in a research note on Thursday, August 6th. Finally, Truist Financial cut their price objective on shares of AdaptHealth from $14.00 to $9.00 and set a "buy" rating for the company in a report on Wednesday, August 5th.

AdaptHealth Stock Performance

NASDAQ AHCO opened at $6.06 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.12 and a quick ratio of 0.98. The stock's 50 day simple moving average is $7.87 and its 200-day simple moving average is $9.78. The company has a market cap of $826.22 million, a PE ratio of -3.54 and a beta of 1.39. AdaptHealth has a 1-year low of $5.21 and a 1-year high of $13.43.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of $0.17 by ($1.16). The firm had revenue of $740.31 million for the quarter, compared to analysts' expectations of $846.77 million. AdaptHealth had a positive return on equity of 3.36% and a negative net margin of 7.07%.The firm's revenue for the quarter was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 earnings per share.

Insider Activity

In related news, Director Kenneth Samet purchased 23,500 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The stock was purchased at an average price of $6.38 per share, with a total value of $149,930.00. Following the completion of the acquisition, the director owned 48,569 shares in the company, valued at $309,870.22. This trade represents a 93.74% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 1.95% of the stock is owned by company insiders.

Institutional Trading of AdaptHealth

Several large investors have recently added to or reduced their stakes in AHCO. Rockefeller Capital Management L.P. raised its holdings in shares of AdaptHealth by 433.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company's stock worth $26,000 after acquiring an additional 2,100 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in AdaptHealth during the second quarter worth about $56,000. Assetmark Inc. increased its position in AdaptHealth by 54.8% during the first quarter. Assetmark Inc. now owns 6,952 shares of the company's stock worth $83,000 after purchasing an additional 2,460 shares during the last quarter. PNC Financial Services Group Inc. increased its position in AdaptHealth by 22.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company's stock worth $70,000 after purchasing an additional 1,279 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in AdaptHealth by 318.0% during the second quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company's stock worth $90,000 after purchasing 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, 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.