AdaptHealth (NASDAQ:AHCO) Reaches New 12-Month High – Still a Buy?

AdaptHealth Corp. (NASDAQ:AHCO) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $12.10 and last traded at $12.1510, with a volume of 59181 shares trading hands. The stock had previously closed at $12.03.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AHCO shares. Leerink Partners cut their price objective on shares of AdaptHealth from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Wall Street Zen cut shares of AdaptHealth from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Zacks Research upgraded shares of AdaptHealth from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Weiss Ratings cut shares of AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday, February 25th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $13.00 price objective on shares of AdaptHealth in a report on Wednesday, February 25th. Four 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.25.

AdaptHealth Trading Down 1.1%

The firm has a market cap of $1.62 billion, a PE ratio of -21.71, a PEG ratio of 1.38 and a beta of 1.50. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 1.15. The stock’s fifty day simple moving average is $10.37 and its two-hundred day simple moving average is $9.92.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings data on Tuesday, February 24th. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($1.10). AdaptHealth had a positive return on equity of 3.42% and a negative net margin of 2.18%.The business had revenue of $846.29 million during the quarter, compared to analysts’ expectations of $832.51 million. During the same quarter last year, the company posted $0.34 EPS. AdaptHealth’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, sell-side analysts forecast that AdaptHealth Corp. will post 0.88 EPS for the current fiscal year.

Insider Activity at AdaptHealth

In other news, major shareholder Richard M. Cashin, Jr. purchased 447,100 shares of the business’s stock in a transaction dated Friday, March 20th. The shares were purchased at an average price of $9.91 per share, for a total transaction of $4,430,761.00. Following the completion of the acquisition, the insider directly owned 16,312,698 shares in the company, valued at $161,658,837.18. This represents a 2.82% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have purchased a total of 2,494,518 shares of company stock worth $24,352,291 in the last 90 days. Corporate insiders own 1.55% of the company’s stock.

Institutional Investors Weigh In On AdaptHealth

A number of institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings in shares of AdaptHealth by 22.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock valued at $70,000 after buying an additional 1,279 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of AdaptHealth by 3.1% during the fourth quarter. MetLife Investment Management LLC now owns 57,364 shares of the company’s stock valued at $571,000 after buying an additional 1,749 shares during the last quarter. Corient Private Wealth LLC grew its holdings in shares of AdaptHealth by 8.6% during the fourth quarter. Corient Private Wealth LLC now owns 22,562 shares of the company’s stock valued at $227,000 after buying an additional 1,794 shares during the last quarter. CWM LLC grew its holdings in shares of AdaptHealth by 17.5% during the third quarter. CWM LLC now owns 12,306 shares of the company’s stock valued at $110,000 after buying an additional 1,835 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of AdaptHealth by 433.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company’s stock valued at $26,000 after buying an additional 2,100 shares during the last quarter. Hedge funds and other institutional investors own 82.67% of the company’s stock.

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.