AdaptHealth (NASDAQ:AHCO) Releases Quarterly Earnings Results, Misses Expectations By $0.10 EPS

AdaptHealth (NASDAQ:AHCOGet Rating) released its quarterly earnings data on Tuesday. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.10), Fidelity Earnings reports. AdaptHealth had a net margin of 6.36% and a return on equity of 7.97%. The company had revenue of $706.20 million during the quarter, compared to the consensus estimate of $646.42 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 46.5% on a year-over-year basis. AdaptHealth updated its FY 2022 guidance to EPS.

AHCO traded down $0.23 during mid-day trading on Wednesday, reaching $14.63. The stock had a trading volume of 30,761 shares, compared to its average volume of 1,116,564. The stock has a market capitalization of $1.96 billion, a P/E ratio of 37.36, a P/E/G 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 fifty day simple moving average is $15.41 and its two-hundred day simple moving average is $19.16. AdaptHealth has a 52 week low of $11.40 and a 52 week high of $30.33.

AHCO has been the topic of several analyst reports. Zacks Investment Research upgraded AdaptHealth from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Truist Financial decreased their price target on AdaptHealth from $30.00 to $20.00 in a research report on Friday, February 25th. Deutsche Bank Aktiengesellschaft decreased their price target on AdaptHealth from $28.00 to $22.00 in a research report on Wednesday. SVB Leerink decreased their price target on AdaptHealth from $32.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 2nd. Finally, Royal Bank of Canada decreased their price target on AdaptHealth from $31.00 to $26.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $24.29.

In related news, Director Skyknight Capital Fund Ii, L.P purchased 17,486 shares of the business’s stock in a transaction dated Friday, March 11th. The shares were bought at an average price of $15.50 per share, with a total value 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 business’s stock in a transaction dated Thursday, March 3rd. The stock was bought at an average cost of $15.44 per share, for a total transaction of $499,360.48. The disclosure for this purchase can be found here. Insiders acquired a total of 88,180 shares of company stock worth $1,351,923 over the last quarter. Corporate insiders own 17.30% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its stake 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 during the period. Morgan Stanley lifted its stake in shares of AdaptHealth by 2,720.3% in the 2nd quarter. Morgan Stanley now owns 960,181 shares of the company’s stock valued at $26,319,000 after purchasing an additional 926,136 shares during the period. Norges Bank acquired a new stake in AdaptHealth during the 4th quarter worth $11,767,000. Bank of New York Mellon Corp raised its stake in AdaptHealth by 2.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 359,087 shares of the company’s stock worth $8,363,000 after buying an additional 8,258 shares during the period. Finally, Nuveen Asset Management LLC raised its stake in AdaptHealth by 4.7% during the 4th quarter. Nuveen Asset Management LLC now owns 353,489 shares of the company’s stock worth $8,646,000 after buying an additional 15,733 shares during the period. 83.68% of the stock is currently owned by institutional investors.

AdaptHealth Company Profile (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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Earnings History for AdaptHealth (NASDAQ:AHCO)

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