Brokerages Expect AdaptHealth Corp. (NASDAQ:AHCO) Will Post Quarterly Sales of $643.13 Million

Wall Street brokerages expect that AdaptHealth Corp. (NASDAQ:AHCOGet Rating) will post sales of $643.13 million for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for AdaptHealth’s earnings, with the highest sales estimate coming in at $653.00 million and the lowest estimate coming in at $634.80 million. AdaptHealth posted sales of $482.12 million during the same quarter last year, which would suggest a positive year over year growth rate of 33.4%. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that AdaptHealth will report full year sales of $2.92 billion for the current year, with estimates ranging from $2.87 billion to $2.95 billion. For the next financial year, analysts expect that the business will report sales of $3.25 billion, with estimates ranging from $3.14 billion to $3.35 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow AdaptHealth.

AdaptHealth (NASDAQ:AHCOGet Rating) last posted its quarterly earnings data on Thursday, February 24th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.25). The company had revenue of $702.11 million for the quarter, compared to analysts’ expectations of $693.15 million. AdaptHealth had a return on equity of 7.97% and a net margin of 6.36%.

A number of research analysts have recently commented on the stock. Truist Financial dropped their price objective on shares of AdaptHealth from $30.00 to $20.00 in a research note on Friday, February 25th. TheStreet raised shares of AdaptHealth from a “d” rating to a “c” rating in a research note on Wednesday, February 2nd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of AdaptHealth from $34.00 to $28.00 in a research note on Friday, February 25th. Royal Bank of Canada dropped their price objective on shares of AdaptHealth from $31.00 to $26.00 and set an “outperform” rating for the company in a research note on Tuesday, March 8th. Finally, SVB Leerink dropped their price objective on shares of AdaptHealth from $32.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday, March 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $28.25.

In related news, Director Skyknight Capital Fund Ii, L.P purchased 17,486 shares of the firm’s stock in a transaction on Friday, March 11th. The stock was purchased at an average price of $15.50 per share, for a total transaction of $271,033.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen P. Griggs purchased 32,342 shares of the firm’s stock in a transaction on Thursday, March 3rd. The stock was bought at an average price of $15.44 per share, with a total value of $499,360.48. The disclosure for this purchase can be found here. Insiders have bought a total of 88,180 shares of company stock valued at $1,351,923 in the last quarter. Company insiders own 17.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Deerfield Management Company L.P. Series C raised its position in shares of AdaptHealth by 26.2% in the 4th quarter. Deerfield Management Company L.P. Series C now owns 10,225,445 shares of the company’s stock valued at $250,114,000 after purchasing an additional 2,121,653 shares in the last quarter. SkyKnight Capital L.P. acquired a new position in shares of AdaptHealth in the 4th quarter valued at approximately $197,875,000. BlackRock Inc. raised its position in shares of AdaptHealth by 0.6% in the 4th quarter. BlackRock Inc. now owns 5,296,076 shares of the company’s stock valued at $129,542,000 after purchasing an additional 34,062 shares in the last quarter. Viking Global Investors LP raised its position in shares of AdaptHealth by 31.6% in the 3rd quarter. Viking Global Investors LP now owns 4,074,029 shares of the company’s stock valued at $94,884,000 after purchasing an additional 977,601 shares in the last quarter. Finally, Rubric Capital Management LP raised its position in shares of AdaptHealth by 31.5% in the 4th quarter. Rubric Capital Management LP now owns 3,025,000 shares of the company’s stock valued at $73,992,000 after purchasing an additional 725,000 shares in the last quarter. Hedge funds and other institutional investors own 55.20% of the company’s stock.

AdaptHealth stock opened at $15.36 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 1.09 and a debt-to-equity ratio of 1.06. The stock has a market cap of $2.03 billion, a PE ratio of 39.38, a P/E/G ratio of 0.28 and a beta of 0.31. The stock has a 50-day moving average price of $16.46 and a 200 day moving average price of $20.29. AdaptHealth has a 52 week low of $13.95 and a 52 week high of $31.14.

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.

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