AdaptHealth (NASDAQ:AHCO) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of AdaptHealth (NASDAQ:AHCO) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning.

AHCO has been the topic of a number of other research reports. Canaccord Genuity Group raised their price objective on shares of AdaptHealth from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Zacks Research raised shares of AdaptHealth from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Weiss Ratings cut shares of AdaptHealth from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.60.

AdaptHealth Stock Down 0.3%

Shares of NASDAQ AHCO opened at $10.61 on Friday. The business has a 50-day moving average of $9.91 and a two-hundred day moving average of $9.49. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 1.21 and a beta of 1.71. AdaptHealth has a 1 year low of $7.11 and a 1 year high of $11.63. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.08 and a quick ratio of 0.86.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.05). The business had revenue of $820.31 million during the quarter, compared to analysts’ expectations of $799.62 million. AdaptHealth had a net margin of 2.53% and a return on equity of 4.85%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS. On average, analysts forecast that AdaptHealth will post 0.88 earnings per share for the current fiscal year.

Insider Activity at AdaptHealth

In other news, Director David Solomon Williams III sold 5,000 shares of AdaptHealth stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $9.43, for a total value of $47,150.00. Following the transaction, the director directly owned 45,045 shares of the company’s stock, valued at $424,774.35. The trade was a 9.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.55% of the stock is owned by insiders.

Institutional Investors Weigh In On AdaptHealth

Institutional investors and hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC grew its holdings in shares of AdaptHealth by 1.9% during the second quarter. Janney Montgomery Scott LLC now owns 80,301 shares of the company’s stock worth $757,000 after buying an additional 1,511 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in AdaptHealth by 6.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,095 shares of the company’s stock worth $256,000 after acquiring an additional 1,671 shares during the period. CWM LLC lifted its position in AdaptHealth by 17.5% during the 3rd quarter. CWM LLC now owns 12,306 shares of the company’s stock worth $110,000 after acquiring an additional 1,835 shares during the period. SummerHaven Investment Management LLC grew its stake in shares of AdaptHealth by 2.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 81,771 shares of the company’s stock valued at $771,000 after purchasing an additional 1,888 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of AdaptHealth by 9.3% in the third quarter. Arizona State Retirement System now owns 27,937 shares of the company’s stock valued at $250,000 after purchasing an additional 2,367 shares during the period. 82.67% of the stock is owned by hedge funds and other institutional investors.

About AdaptHealth

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.