AdaptHealth (NASDAQ:AHCO) Shares Up 4.8% - What's Next?

Key Points

• AdaptHealth shares rose 4.8% to about $6.05, although trading volume was 43% below the average daily level.
• Analyst sentiment is mixed but leans positive: seven analysts rate the stock a Buy, with a consensus price target of $10.14 versus the current price.
• The company reported a significant quarterly loss and revenue miss, posting EPS of negative $0.99 and revenue of $740.3 million, down 7.5% year over year. Director Kenneth Samet separately bought 23,500 shares at $6.38 each.

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report)'s stock price was up 4.8% on Wednesday. The company traded as high as $6.03 and last traded at $6.0450. Approximately 1,071,789 shares traded hands during trading, a decline of 43% from the average daily volume of 1,868,174 shares. The stock had previously closed at $5.77.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AHCO. Jefferies Financial Group raised AdaptHealth from a "hold" rating to a "buy" rating and increased their price objective for the company from $11.00 to $13.00 in a report on Tuesday, July 21st. Weiss Ratings reiterated a "sell (d)" rating on shares of AdaptHealth in a research report on Wednesday, August 19th. Canaccord Genuity Group set a $10.00 price objective on AdaptHealth in a report on Wednesday, August 5th. Wall Street Zen cut AdaptHealth from a "hold" rating to a "sell" rating in a research report on Sunday, August 16th. Finally, Truist Financial dropped their target price on shares of AdaptHealth from $14.00 to $9.00 and set a "buy" rating for the company in a research report on Wednesday, August 5th. Seven 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 company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $10.14.

AdaptHealth Stock Up 4.8%

The firm has a market capitalization of $824.18 million, a price-to-earnings ratio of -3.54 and a beta of 1.42. 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 of $6.21 and a two-hundred day moving average of $9.30.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last announced its 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). 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 during the quarter, compared to the consensus estimate of $846.77 million. During the same quarter in the previous year, the company earned $0.10 earnings per share. The business's revenue was down 7.5% on a year-over-year basis.

Insider Buying and Selling

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

Institutional Trading of AdaptHealth

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kennedy Capital Management LLC increased its position in AdaptHealth by 15.2% in the fourth quarter. Kennedy Capital Management LLC now owns 2,408,038 shares of the company's stock worth $23,984,000 after buying an additional 317,900 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in AdaptHealth by 87.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 847,085 shares of the company's stock worth $10,080,000 after purchasing an additional 395,668 shares during the period. Principal Financial Group Inc. increased its position in shares of AdaptHealth by 25.1% during the first quarter. Principal Financial Group Inc. now owns 2,784,316 shares of the company's stock valued at $33,133,000 after buying an additional 558,357 shares during the period. Lazard Asset Management LLC boosted its position in shares of AdaptHealth by 35.0% in the first quarter. Lazard Asset Management LLC now owns 1,669,454 shares of the company's stock valued at $19,867,000 after acquiring an additional 432,664 shares during the period. Finally, Corient Private Wealth LP grew its stake in AdaptHealth by 259.0% during the second 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 in the last quarter. 82.67% of the stock is owned by institutional investors.

AdaptHealth Company Profile

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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