AdaptHealth (NASDAQ:AHCO) Shares Down 3.8% After Analyst Downgrade

Key Points

• AdaptHealth shares fell 3.8% after Robert W. Baird cut its price target from $10 to $9, though it maintained an “outperform” rating. The stock traded near $5.69, well below the analyst consensus target of $10.14.
• Analyst sentiment remains mixed but leans positive, with seven “Buy” ratings, one “Hold” and one “Sell,” resulting in a consensus “Moderate Buy” rating.
• The company’s latest quarterly results disappointed: AdaptHealth reported a $0.99 per-share loss versus an expected $0.17 profit, while revenue fell 7.5% year over year to $740.3 million and missed estimates.

Shares of AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) fell 3.8% during trading on Thursday after Robert W. Baird lowered their price target on the stock from $10.00 to $9.00. Robert W. Baird currently has an outperform rating on the stock. AdaptHealth traded as low as $5.71 and last traded at $5.6850. Approximately 199,777 shares were traded during mid-day trading, a decline of 89% from the average session volume of 1,818,655 shares. The stock had previously closed at $5.91.

A number of other equities research analysts have also recently commented on AHCO. 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 research note on Thursday, August 6th. Jefferies Financial Group raised AdaptHealth from a "hold" rating to a "buy" rating and lifted their price target for the stock from $11.00 to $13.00 in a research note on Tuesday, July 21st. UBS Group dropped their price objective on shares of AdaptHealth from $14.00 to $10.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Weiss Ratings restated a "sell (d)" rating on shares of AdaptHealth in a report on Wednesday, August 19th. Finally, Wall Street Zen downgraded shares of AdaptHealth from a "hold" rating to a "sell" rating in a report on Sunday, August 16th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $10.14.

Insider Activity at AdaptHealth

In other news, Director Kenneth Samet acquired 23,500 shares of the firm's stock in a transaction dated Thursday, August 6th. The stock was acquired at an average cost 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 of the company's stock, valued at $309,870.22. The trade was a 93.74% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.95% of the company's stock.

Institutional Investors Weigh In On AdaptHealth

Several institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. increased its position in 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 purchasing an additional 2,100 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in AdaptHealth during the second quarter valued at about $56,000. Assetmark Inc. increased its position in AdaptHealth by 54.8% during the 1st quarter. Assetmark Inc. now owns 6,952 shares of the company's stock worth $83,000 after purchasing an additional 2,460 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of AdaptHealth in the first quarter worth $120,000. Finally, FourThought Financial Partners LLC purchased a new position in AdaptHealth in the fourth quarter valued at about $122,000. Hedge funds and other institutional investors own 82.67% of the company's stock.

AdaptHealth Trading Down 4.0%

The firm has a market capitalization of $773.32 million, a PE ratio of -3.31 and a beta of 1.39. The firm has a fifty day moving average of $7.61 and a 200 day moving average of $9.70. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.98 and a current ratio of 1.12.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last posted 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). AdaptHealth had a negative net margin of 7.07% and a positive return on equity of 3.36%. The company had revenue of $740.31 million for the quarter, compared to the consensus estimate of $846.77 million. During the same quarter last year, the company earned $0.10 earnings per share. The company's revenue was down 7.5% compared to the same quarter last year.

AdaptHealth Company Profile

AdaptHealth Corp. NASDAQ: AHCO is a provider of home medical equipment, medical supplies and related healthcare services in the United States. The company supports patients who require ongoing care outside of traditional healthcare facilities and works with physicians, hospitals, insurers and other referral sources to coordinate equipment delivery, setup and clinical support.

AdaptHealth's offerings include respiratory equipment such as oxygen systems, ventilators and continuous positive airway pressure (CPAP) devices; diabetes supplies; sleep therapy products; mobility equipment; wheelchairs; wound-care products; and other home medical equipment and disposable supplies.

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