AdaptHealth Corp. (NASDAQ:AHCO) Stock Now Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts have a “Moderate Buy” consensus on AdaptHealth, with seven buy ratings, one hold and one sell among nine firms. The average 12-month price target is $10.14, well above the stock’s reported $5.88 price.
• AdaptHealth’s latest quarterly results missed expectations, reporting a $0.99 per-share loss versus a projected $0.17 profit, while revenue of $740.31 million fell short of the $846.77 million estimate and declined 7.5% year over year.
• Director Kenneth Samet bought 23,500 shares for approximately $149,930, while institutional investors own 82.67% of the company. The stock remains near its 52-week low, trading between $5.21 and $13.43 over the period.

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the nine research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $10.14.

A number of analysts have recently weighed in on AHCO shares. Robert W. Baird lowered their price objective on AdaptHealth from $10.00 to $9.00 and set an "outperform" rating for the company in a research report on Thursday, September 17th. Canaccord Genuity Group set a $10.00 target price on AdaptHealth in a research report on Wednesday, August 5th. Wall Street Zen cut AdaptHealth from a "hold" rating to a "sell" rating in a research note on Sunday, August 16th. UBS Group lowered their price target on AdaptHealth from $14.00 to $10.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Finally, Royal Bank Of Canada dropped their price target on AdaptHealth from $15.00 to $8.00 and set an "outperform" rating on the stock in a research note on Thursday, August 6th.

Insider Buying and Selling

In related news, Director Kenneth Samet bought 23,500 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was bought at an average cost of $6.38 per share, for a total transaction of $149,930.00. Following the purchase, the director directly owned 48,569 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. 1.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LP increased its position in shares of AdaptHealth by 259.0% in the 2nd quarter. Corient Private Wealth LP now owns 224,099 shares of the company's stock valued at $2,335,000 after acquiring an additional 161,677 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in AdaptHealth during the 2nd quarter worth about $966,000. Readystate Asset Management LP lifted its position in AdaptHealth by 37.5% during the 2nd quarter. Readystate Asset Management LP now owns 278,882 shares of the company's stock worth $2,906,000 after acquiring an additional 76,009 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in AdaptHealth during the 2nd quarter valued at about $56,000. Finally, Paradigm Capital Management Inc. NY purchased a new stake in AdaptHealth during the 2nd quarter valued at about $1,263,000. Institutional investors and hedge funds own 82.67% of the company's stock.

AdaptHealth Trading Up 1.9%

NASDAQ:AHCO opened at $5.88 on Thursday. AdaptHealth has a 52 week low of $5.21 and a 52 week high of $13.43. The firm has a 50 day moving average of $6.11 and a 200 day moving average of $9.27. The company has a quick ratio of 0.98, a current ratio of 1.12 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $801.68 million, a price-to-earnings ratio of -3.44 and a beta of 1.42.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($1.16). The firm had revenue of $740.31 million during 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%.AdaptHealth's revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 earnings per share.

About AdaptHealth

AdaptHealth Corp. is a provider of home healthcare equipment, medical supplies and related services in the United States. The company helps patients manage medical conditions outside traditional healthcare settings by delivering equipment to their homes and providing education, setup and ongoing support.

Its offerings include respiratory equipment such as oxygen systems and ventilators, sleep therapy products including continuous positive airway pressure (CPAP) devices, diabetes supplies, mobility and assistive equipment, and other durable medical equipment.

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