AdaptHealth Corp. (NASDAQ:AHCO) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts rate AdaptHealth “Moderate Buy.” Seven of nine analysts recommend buying the stock, with an average 12-month price target of $10.14; however, one analyst rates it a sell and another a hold.
• Recent financial results were significantly weaker than expected. AdaptHealth reported a quarterly loss of $0.99 per share versus a projected $0.17 profit, while revenue of $740.31 million fell short of estimates and declined 7.5% year over year.
• The stock opened at $5.81, near its 52-week low of $5.21 and well below its 52-week high of $13.43. Director Kenneth Samet purchased approximately $150,000 in shares, while institutional investors own 82.67% of the company.

Shares of AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) have earned an average recommendation of "Moderate Buy" from the nine research firms that are covering the stock, Marketbeat Ratings reports. One 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 target price among brokerages that have covered the stock in the last year is $10.14.

AHCO has been the topic of a number of analyst reports. Royal Bank Of Canada dropped their price objective on shares of AdaptHealth from $15.00 to $8.00 and set an "outperform" rating on the stock in a report on Thursday, August 6th. Jefferies Financial Group raised shares of AdaptHealth from a "hold" rating to a "buy" rating and lifted their target price for the company from $11.00 to $13.00 in a research note on Tuesday, July 21st. Weiss Ratings reiterated a "sell (d)" rating on shares of AdaptHealth in a report on Wednesday, August 19th. Wall Street Zen lowered AdaptHealth from a "hold" rating to a "sell" rating in a research note on Sunday, August 16th. Finally, UBS Group lowered their price objective on shares of AdaptHealth from $14.00 to $10.00 and set a "buy" rating for the company in a research report on Thursday, August 6th.

AdaptHealth Stock Performance

AdaptHealth stock opened at $5.81 on Monday. The firm has a market capitalization of $792.14 million, a P/E ratio of -3.40 and a beta of 1.36. AdaptHealth has a 52-week low of $5.21 and a 52-week high of $13.43. 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 has a fifty day moving average price of $5.88 and a two-hundred day moving average price of $9.16.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.99) EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($1.16). The company had revenue of $740.31 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the firm earned $0.10 earnings per share.

Insider Buying and Selling

In related news, Director Kenneth Samet purchased 23,500 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average price of $6.38 per share, with a total value of $149,930.00. Following the completion of the purchase, the director directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AdaptHealth

Large investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. grew its position 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 valued at $26,000 after purchasing an additional 2,100 shares in the last quarter. Assetmark Inc. lifted its stake in shares of 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 buying an additional 2,460 shares in the last quarter. State of Wyoming grew its holdings in shares of AdaptHealth by 9.3% in the first quarter. State of Wyoming now owns 28,986 shares of the company's stock valued at $345,000 after purchasing an additional 2,464 shares in the last quarter. Cetera Investment Advisers boosted its holdings in AdaptHealth by 10.3% during the 1st quarter. Cetera Investment Advisers now owns 34,329 shares of the company's stock valued at $409,000 after acquiring an additional 3,212 shares during the period. Finally, Pictet Asset Management Holding SA grew its stake in AdaptHealth by 49.4% in the first quarter. Pictet Asset Management Holding SA now owns 15,644 shares of the company's stock worth $186,000 after purchasing an additional 5,171 shares in the last quarter. 82.67% of the stock is currently owned by institutional investors and hedge funds.

About AdaptHealth

AdaptHealth Corp. NASDAQ: AHCO is a provider of home medical equipment, supplies and related healthcare services in the United States. The company helps patients manage chronic conditions and recover from illness or injury outside of traditional healthcare facilities, working with individuals, caregivers, physicians and payers.

Its products and services include respiratory equipment and supplies, oxygen therapy, sleep therapy devices such as continuous positive airway pressure systems, diabetes management products, mobility and accessibility equipment, and other durable medical equipment.

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