AdaptHealth Corp. (NASDAQ:AHCO) to Post FY2023 Earnings of $1.43 Per Share, Jefferies Financial Group Forecasts

AdaptHealth Corp. (NASDAQ:AHCOGet Rating) – Investment analysts at Jefferies Financial Group increased their FY2023 earnings estimates for shares of AdaptHealth in a report released on Tuesday, September 20th. Jefferies Financial Group analyst B. Tanquilut now expects that the company will earn $1.43 per share for the year, up from their prior forecast of $1.39. The consensus estimate for AdaptHealth’s current full-year earnings is $1.32 per share.

AdaptHealth (NASDAQ:AHCOGet Rating) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.23). AdaptHealth had a return on equity of 6.49% and a net margin of 4.91%. The firm had revenue of $727.61 million for the quarter, compared to analysts’ expectations of $724.27 million. During the same quarter in the prior year, the business posted ($0.11) earnings per share. AdaptHealth’s revenue was up 17.9% on a year-over-year basis.

Several other equities analysts have also weighed in on AHCO. Truist Financial raised their price objective on shares of AdaptHealth from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Monday. TheStreet raised shares of AdaptHealth from a “d+” rating to a “c-” rating in a research note on Tuesday, August 2nd. SVB Leerink increased their target price on shares of AdaptHealth from $24.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on AdaptHealth from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $27.17.

AdaptHealth Stock Down 1.9 %

Shares of AdaptHealth stock opened at $19.99 on Thursday. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 38.44, a P/E/G ratio of 0.36 and a beta of 0.59. The stock has a 50-day simple moving average of $20.93 and a 200-day simple moving average of $18.12. AdaptHealth has a 52-week low of $11.40 and a 52-week high of $28.75. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.39 and a quick ratio of 1.15.

Insider Buying and Selling at AdaptHealth

In other AdaptHealth news, major shareholder Everest Hill Group Inc. sold 159,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $23.00, for a total value of $3,657,000.00. Following the sale, the insider now owns 15,485,834 shares of the company’s stock, valued at approximately $356,174,182. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Everest Hill Group Inc. sold 159,000 shares of the company’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $23.00, for a total transaction of $3,657,000.00. Following the completion of the transaction, the insider now directly owns 15,485,834 shares in the company, valued at approximately $356,174,182. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Christopher J. Joyce sold 100,000 shares of the firm’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $22.20, for a total transaction of $2,220,000.00. Following the completion of the sale, the general counsel now owns 106,071 shares in the company, valued at $2,354,776.20. The disclosure for this sale can be found here. Insiders sold 474,382 shares of company stock worth $10,938,477 over the last ninety days. Company insiders own 17.30% of the company’s stock.

Institutional Trading of AdaptHealth

A number of hedge funds have recently modified their holdings of AHCO. Nisa Investment Advisors LLC raised its stake in shares of AdaptHealth by 96.6% in the first quarter. Nisa Investment Advisors LLC now owns 1,710 shares of the company’s stock valued at $27,000 after purchasing an additional 840 shares in the last quarter. US Bancorp DE lifted its holdings in shares of AdaptHealth by 121.7% during the 2nd quarter. US Bancorp DE now owns 2,614 shares of the company’s stock worth $48,000 after acquiring an additional 1,435 shares during the period. Group One Trading L.P. boosted its position in shares of AdaptHealth by 134.3% during the 1st quarter. Group One Trading L.P. now owns 3,720 shares of the company’s stock valued at $60,000 after acquiring an additional 2,132 shares in the last quarter. Advisor Group Holdings Inc. increased its stake in AdaptHealth by 306.5% in the fourth quarter. Advisor Group Holdings Inc. now owns 3,000 shares of the company’s stock valued at $73,000 after acquiring an additional 2,262 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in AdaptHealth in the first quarter worth about $82,000. Institutional investors own 75.76% of the company’s stock.

About AdaptHealth

(Get Rating)

AdaptHealth Corp., together with its subsidiaries, provides home medical equipment (HME), medical supplies, and home and related services in the United States. The company provides sleep therapy equipment, supplies, and related services, such as CPAP and bi-PAP services to individuals suffering from obstructive sleep apnea; medical devices and supplies, including continuous glucose monitors and insulin pumps to patients for the treatment of diabetes; HME to patients discharged from acute care and other facilities; oxygen and related chronic therapy services in the home; and other HME devices and supplies on behalf of chronically ill patients with wound care, urological, incontinence, ostomy, and nutritional supply needs.

Featured Articles

Earnings History and Estimates for AdaptHealth (NASDAQ:AHCO)

Receive News & Ratings for AdaptHealth Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AdaptHealth and related companies with MarketBeat.com's FREE daily email newsletter.