AdaptHealth Corp. (NASDAQ:AHCO) Given Average Rating of “Hold” by Brokerages

Shares of AdaptHealth Corp. (NASDAQ:AHCO) have earned an average rating of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $12.10.

Several equities research analysts have commented on AHCO shares. Jefferies Financial Group lowered shares of AdaptHealth from a “buy” rating to a “hold” rating and dropped their price target for the company from $14.50 to $8.00 in a research note on Monday, January 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price target on shares of AdaptHealth in a research report on Monday, March 4th. UBS Group increased their price target on AdaptHealth from $9.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Finally, Truist Financial lifted their price objective on shares of AdaptHealth from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th.

AdaptHealth Trading Up 4.0 %

NASDAQ:AHCO opened at $9.96 on Monday. The firm has a market capitalization of $1.32 billion, a P/E ratio of -1.88, a P/E/G ratio of 0.65 and a beta of 1.02. The business has a 50 day simple moving average of $10.05 and a 200 day simple moving average of $8.44. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.21 and a quick ratio of 1.00. AdaptHealth has a 12-month low of $6.37 and a 12-month high of $15.37.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.44. The company had revenue of $858.23 million during the quarter, compared to the consensus estimate of $825.94 million. AdaptHealth had a negative net margin of 21.21% and a positive return on equity of 8.84%. Equities research analysts predict that AdaptHealth will post 0.88 EPS for the current year.

Insider Activity

In related news, major shareholder James E. Flynn sold 52,487 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $10.93, for a total transaction of $573,682.91. Following the completion of the transaction, the insider now owns 11,826,376 shares of the company’s stock, valued at $129,262,289.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other AdaptHealth news, major shareholder James E. Flynn sold 182,607 shares of AdaptHealth stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $11.02, for a total value of $2,012,329.14. Following the transaction, the insider now owns 11,643,769 shares in the company, valued at $128,314,334.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder James E. Flynn sold 52,487 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $10.93, for a total value of $573,682.91. Following the sale, the insider now owns 11,826,376 shares of the company’s stock, valued at approximately $129,262,289.68. The disclosure for this sale can be found here. Insiders own 13.60% of the company’s stock.

Hedge Funds Weigh In On AdaptHealth

Hedge funds have recently modified their holdings of the stock. Deerfield Management Company L.P. Series C boosted its position in shares of AdaptHealth by 22.7% in the 3rd quarter. Deerfield Management Company L.P. Series C now owns 13,607,940 shares of the company’s stock valued at $123,832,000 after purchasing an additional 2,513,026 shares during the period. Vanguard Group Inc. lifted its stake in AdaptHealth by 4.3% during the third quarter. Vanguard Group Inc. now owns 8,656,553 shares of the company’s stock valued at $78,775,000 after buying an additional 355,005 shares in the last quarter. Reinhart Partners LLC. boosted its holdings in shares of AdaptHealth by 3.6% in the first quarter. Reinhart Partners LLC. now owns 4,210,211 shares of the company’s stock worth $48,460,000 after buying an additional 144,516 shares during the period. Kennedy Capital Management LLC increased its position in shares of AdaptHealth by 149.3% in the third quarter. Kennedy Capital Management LLC now owns 1,483,640 shares of the company’s stock worth $13,501,000 after acquiring an additional 888,504 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of AdaptHealth by 21.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,040,947 shares of the company’s stock valued at $7,589,000 after acquiring an additional 183,135 shares during the period. 82.67% of the stock is currently owned by institutional investors and hedge funds.

About AdaptHealth

AdaptHealth Corp., together with its subsidiaries, sells 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 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.