AdaptHealth (NASDAQ:AHCO) Downgraded to Sell at Zacks Investment Research

Last updated on Thursday, July 22, 2021 | 2021 MarketBeat

AdaptHealth (NASDAQ:AHCO) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, "AdaptHealth Corp. is a provider of home medical equipment primarily in the United States. It offers medical products for both rental and sale, with a focus on respiratory and/or mobility equipment, including CPAP sleep equipment, oxygen equipment, wheelchairs, walkers and hospital beds. AdaptHealth Corp., formerly known as DFB Healthcare Acquisitions Corp., is based in PLYMOUTH MEETING. "

AHCO has been the topic of a number of other research reports. Canaccord Genuity lifted their price target on AdaptHealth from $44.00 to $50.00 and gave the company a "buy" rating in a report on Friday, May 7th. Robert W. Baird raised AdaptHealth from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $30.00 to $36.00 in a report on Wednesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on AdaptHealth from $47.00 to $40.00 and set a "sell" rating on the stock in a report on Friday, May 7th. Two equities research analysts have rated the stock with a sell rating and nine have issued a buy rating to the company's stock. The company presently has a consensus rating of "Buy" and an average target price of $43.95.

AHCO stock traded down $0.86 during midday trading on Thursday, reaching $22.60. The company had a trading volume of 30,598 shares, compared to its average volume of 1,062,799. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.98 and a quick ratio of 0.83. The stock's 50 day moving average price is $26.55. AdaptHealth has a fifty-two week low of $18.06 and a fifty-two week high of $41.58. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of -44.31, a PEG ratio of 0.40 and a beta of -0.07.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Wednesday, May 5th. The company reported ($0.04) earnings per share for the quarter, missing the Zacks' consensus estimate of $0.24 by ($0.28). The business had revenue of $482.10 million for the quarter, compared to the consensus estimate of $486.31 million. AdaptHealth had a negative net margin of 2.48% and a positive return on equity of 7.41%. The business's quarterly revenue was up 151.9% on a year-over-year basis. During the same period last year, the firm posted ($0.82) EPS. As a group, analysts anticipate that AdaptHealth will post 1.32 EPS for the current fiscal year.

In related news, CEO Stephen P. Griggs purchased 4,000 shares of the stock in a transaction dated Thursday, May 20th. The shares were acquired at an average cost of $24.14 per share, for a total transaction of $96,560.00. Following the acquisition, the chief executive officer now directly owns 4,000 shares in the company, valued at approximately $96,560. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 17.30% of the company's stock.

Institutional investors have recently bought and sold shares of the company. Northern Trust Corp grew its holdings in shares of AdaptHealth by 140.3% during the 1st quarter. Northern Trust Corp now owns 788,264 shares of the company's stock valued at $28,977,000 after acquiring an additional 460,248 shares in the last quarter. Scout Investments Inc. grew its holdings in shares of AdaptHealth by 10.7% during the 1st quarter. Scout Investments Inc. now owns 415,179 shares of the company's stock valued at $15,262,000 after acquiring an additional 40,074 shares in the last quarter. Strs Ohio grew its holdings in shares of AdaptHealth by 275.5% during the 1st quarter. Strs Ohio now owns 36,800 shares of the company's stock valued at $1,352,000 after acquiring an additional 27,000 shares in the last quarter. Rhumbline Advisers boosted its holdings in AdaptHealth by 196.1% in the first quarter. Rhumbline Advisers now owns 75,457 shares of the company's stock worth $2,774,000 after purchasing an additional 49,975 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its holdings in AdaptHealth by 40.2% in the first quarter. Penserra Capital Management LLC now owns 17,196 shares of the company's stock worth $632,000 after purchasing an additional 4,935 shares in the last quarter. Institutional investors and hedge funds own 49.38% of the company's stock.

About AdaptHealth

AdaptHealth Corp., together with its subsidiaries, provides home healthcare equipment, 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; home medical equipment (HME) to patients discharged from acute care and other facilities; oxygen and related chronic therapy services in the home; and other HME medical devices and supplies on behalf of chronically ill patients with diabetes care, wound care, urological, ostomy, and nutritional supply needs.

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