AdaptHealth (NASDAQ:AHCO) Stock Price Up 9% - Time to Buy?

Key Points

• AdaptHealth shares jumped about 9% to roughly $6, though trading volume was well below average. The stock remains significantly below its 50-day and 200-day moving averages.
• Analysts maintain a broadly positive outlook, with seven Buy ratings and a consensus price target of $10.29, despite several recent target-price cuts.
• The rally follows weak quarterly results: AdaptHealth reported a $0.99 per-share loss versus expected earnings of $0.17, while revenue fell 7.5% year over year to $740.3 million. A company director nonetheless bought 23,500 shares, increasing his position by nearly 94%.

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report)'s share price shot up 9% during trading on Wednesday . The stock traded as high as $5.97 and last traded at $6.0050. 412,497 shares changed hands during trading, a decline of 76% from the average daily volume of 1,742,864 shares. The stock had previously closed at $5.51.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Canaccord Genuity Group set a $10.00 price target on shares of AdaptHealth in a research note on Wednesday, August 5th. Truist Financial reduced their price objective on shares of AdaptHealth from $14.00 to $9.00 and set a "buy" rating on the stock in a research note on Wednesday, August 5th. UBS Group decreased their price objective on shares of AdaptHealth from $14.00 to $10.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Royal Bank Of Canada dropped their target price on shares of AdaptHealth from $15.00 to $8.00 and set an "outperform" rating for the company in a research report on Thursday, August 6th. Finally, Jefferies Financial Group upgraded shares of AdaptHealth from a "hold" rating to a "buy" rating and upped their target price for the company from $11.00 to $13.00 in a research note on Tuesday, July 21st. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, AdaptHealth has an average rating of "Moderate Buy" and a consensus price target of $10.29.

AdaptHealth Stock Up 10.6%

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's fifty day simple moving average is $8.55 and its 200-day simple moving average is $10.00. The stock has a market cap of $831.02 million, a P/E ratio of -3.56, a PEG ratio of 0.28 and a beta of 1.47.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.99) earnings per share 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 earnings per share. On average, research analysts anticipate that AdaptHealth Corp. will post 0.44 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Kenneth A. Samet bought 23,500 shares of the business's stock in a transaction on Thursday, August 6th. The shares were bought at an average cost of $6.38 per share, for a total transaction of $149,930.00. Following the completion of the purchase, the director owned 48,569 shares of the company's stock, valued at $309,870.22. This represents a 93.74% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.95% of the stock is owned by corporate insiders.

Institutional Trading of AdaptHealth

Institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of AdaptHealth by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,495 shares of the company's stock valued at $656,000 after acquiring an additional 2,564 shares during the period. Goldman Sachs Group Inc. raised its holdings in AdaptHealth by 32.4% during the first quarter. Goldman Sachs Group Inc. now owns 571,232 shares of the company's stock worth $6,192,000 after purchasing an additional 139,828 shares in the last quarter. Woodline Partners LP acquired a new stake in AdaptHealth in the first quarter worth approximately $2,851,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in AdaptHealth by 18.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,780 shares of the company's stock valued at $2,534,000 after purchasing an additional 35,879 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in AdaptHealth by 1.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 211,769 shares of the company's stock valued at $1,997,000 after purchasing an additional 2,718 shares in the last quarter. 82.67% of the stock is owned by institutional investors and hedge funds.

AdaptHealth Company Profile

AdaptHealth, Inc operates as a leading provider of home medical equipment (HME) and related services in the United States. The company focuses on delivering respiratory care, mobility solutions and bathroom safety products to patients with chronic and acute medical needs. Through its comprehensive service offerings, AdaptHealth aims to enhance quality of life and clinical outcomes for patients who require long-term support outside of a hospital setting.

The company's respiratory portfolio includes products such as continuous positive airway pressure (CPAP) devices, oxygen concentrators, ventilators, and associated supplies for patients with sleep apnea, COPD and other pulmonary conditions.

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