AdaptHealth (NASDAQ:AHCO) Rating Lowered to “Buy” at Wall Street Zen

AdaptHealth (NASDAQ:AHCO) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

AHCO has been the subject of a number of other reports. Canaccord Genuity Group increased their price objective on shares of AdaptHealth from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Weiss Ratings raised shares of AdaptHealth from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, January 30th. Finally, Zacks Research upgraded shares of AdaptHealth from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, AdaptHealth presently has a consensus rating of “Moderate Buy” and an average price target of $14.25.

AdaptHealth Stock Performance

NASDAQ:AHCO opened at $10.20 on Friday. The stock has a 50-day moving average price of $10.24 and a 200 day moving average price of $9.63. The stock has a market capitalization of $1.38 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.16 and a beta of 1.72. AdaptHealth has a 12-month low of $7.11 and a 12-month high of $11.63. The company has a current ratio of 1.08, a quick ratio of 0.86 and a debt-to-equity ratio of 1.09.

Insider Activity at AdaptHealth

In other news, Director David Solomon Williams III sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $9.43, for a total value of $47,150.00. Following the completion of the sale, the director directly owned 45,045 shares of the company’s stock, valued at $424,774.35. This trade represents a 9.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.55% of the company’s stock.

Institutional Investors Weigh In On AdaptHealth

Institutional investors and hedge funds have recently modified their holdings of the business. AlphaQuest LLC grew its position in AdaptHealth by 275.7% in the 2nd quarter. AlphaQuest LLC now owns 3,941 shares of the company’s stock valued at $37,000 after acquiring an additional 2,892 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of AdaptHealth during the third quarter valued at $35,000. Assetmark Inc. grew its holdings in shares of AdaptHealth by 87.6% in the second quarter. Assetmark Inc. now owns 5,529 shares of the company’s stock worth $52,000 after purchasing an additional 2,581 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of AdaptHealth by 22.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock worth $70,000 after purchasing an additional 1,279 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in AdaptHealth by 318.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock worth $90,000 after buying an additional 7,297 shares during the period. 82.67% of the stock is owned by 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.