AdaptHealth Corp. (NASDAQ:AHCO) Expected to Announce Quarterly Sales of $643.13 Million

Equities research analysts expect that AdaptHealth Corp. (NASDAQ:AHCOGet Rating) will announce sales of $643.13 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for AdaptHealth’s earnings, with the lowest sales estimate coming in at $634.80 million and the highest estimate coming in at $653.00 million. AdaptHealth posted sales of $482.12 million during the same quarter last year, which suggests a positive year-over-year growth rate of 33.4%. The company is expected to announce its next quarterly earnings report before the market opens on Monday, January 1st.

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

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

Several research firms have recently commented on AHCO. Royal Bank of Canada reduced their price target on shares of AdaptHealth from $31.00 to $26.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 8th. Canaccord Genuity Group cut their target price on AdaptHealth from $44.00 to $29.00 and set a “buy” rating on the stock in a research report on Friday, February 25th. SVB Leerink cut their target price on AdaptHealth from $32.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 2nd. Zacks Investment Research lowered AdaptHealth from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 27th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on AdaptHealth from $34.00 to $28.00 in a research report on Friday, February 25th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat, AdaptHealth has a consensus rating of “Buy” and an average price target of $25.14.

In other news, CEO Stephen P. Griggs bought 32,342 shares of the stock in a transaction that occurred on Thursday, March 3rd. The stock was purchased at an average price of $15.44 per share, for a total transaction of $499,360.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Skyknight Capital Fund Ii, L.P bought 25,000 shares of the stock in a transaction that occurred on Monday, March 14th. The shares were purchased at an average price of $15.25 per share, with a total value of $381,250.00. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 88,180 shares of company stock valued at $1,351,923. Insiders own 17.30% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Deerfield Management Company L.P. Series C grew its stake in shares of AdaptHealth by 26.2% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 10,225,445 shares of the company’s stock worth $250,114,000 after purchasing an additional 2,121,653 shares in the last quarter. SkyKnight Capital L.P. grew its stake in shares of AdaptHealth by 0.7% during the first quarter. SkyKnight Capital L.P. now owns 8,145,571 shares of the company’s stock worth $130,574,000 after purchasing an additional 55,838 shares in the last quarter. BlackRock Inc. grew its stake in shares of AdaptHealth by 0.6% during the fourth quarter. BlackRock Inc. now owns 5,296,076 shares of the company’s stock worth $129,542,000 after purchasing an additional 34,062 shares in the last quarter. Viking Global Investors LP boosted its stake in AdaptHealth by 31.6% in the third quarter. Viking Global Investors LP now owns 4,074,029 shares of the company’s stock valued at $94,884,000 after acquiring an additional 977,601 shares in the last quarter. Finally, Rubric Capital Management LP boosted its stake in AdaptHealth by 31.5% in the fourth quarter. Rubric Capital Management LP now owns 3,025,000 shares of the company’s stock valued at $73,992,000 after acquiring an additional 725,000 shares in the last quarter. Hedge funds and other institutional investors own 83.68% of the company’s stock.

AHCO stock opened at $11.43 on Tuesday. The firm has a market cap of $1.51 billion, a PE ratio of 29.31, a PEG ratio of 0.23 and a beta of 0.47. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.09 and a current ratio of 1.34. The firm’s 50 day moving average price is $15.42 and its 200-day moving average price is $19.19. AdaptHealth has a one year low of $11.40 and a one year high of $30.33.

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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