FY2023 EPS Estimates for AdaptHealth Corp. Lowered by Jefferies Financial Group (NASDAQ:AHCO)

AdaptHealth Corp. (NASDAQ:AHCO – Get Rating) – Investment analysts at Jefferies Financial Group cut their FY2023 earnings per share (EPS) estimates for shares of AdaptHealth in a research note issued on Tuesday, May 17th. Jefferies Financial Group analyst B. Tanquilut now forecasts that the company will post earnings per share of $1.42 for the year, down from their previous forecast of $1.72.

AdaptHealth (NASDAQ:AHCO – Get Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.10). AdaptHealth had a return on equity of 7.77% and a net margin of 7.54%. The business had revenue of $706.20 million for the quarter, compared to analyst estimates of $646.42 million. During the same quarter last year, the company earned $0.17 EPS. The business’s revenue for the quarter was up 46.5% compared to the same quarter last year.

AHCO has been the topic of several other research reports. Royal Bank of Canada dropped their price target on shares of AdaptHealth from $31.00 to $26.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 8th. Canaccord Genuity Group lowered their target price on shares of AdaptHealth from $29.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, May 12th. Robert W. Baird lowered their target price on shares of AdaptHealth from $34.00 to $26.00 in a research note on Friday, February 25th. TheStreet lowered shares of AdaptHealth from a “c-” rating to a “d+” rating in a research note on Friday, April 29th. Finally, SVB Leerink lowered their target price on shares of AdaptHealth from $32.00 to $24.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $23.86.

Shares of AHCO opened at $16.99 on Friday. The company’s fifty day moving average is $15.47 and its 200-day moving average is $18.72. AdaptHealth has a 12 month low of $11.40 and a 12 month high of $30.33. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 30.89, a price-to-earnings-growth ratio of 0.28 and a beta of 0.47. The company has a quick ratio of 1.16, a current ratio of 1.39 and a debt-to-equity ratio of 1.03.

Hedge funds and other institutional investors have recently modified their holdings of the stock. SkyKnight Capital L.P. bought a new position in AdaptHealth in the fourth quarter valued at approximately $197,875,000. Rubric Capital Management LP acquired a new position in AdaptHealth during the third quarter worth $53,567,000. Deerfield Management Company L.P. Series C increased its holdings in shares of AdaptHealth by 26.2% in the fourth 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 during the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of AdaptHealth in the fourth quarter valued at $45,097,000. Finally, Marshall Wace LLP acquired a new position in shares of AdaptHealth in the third quarter valued at $23,370,000. Hedge funds and other institutional investors own 83.68% of the company’s stock.

In other news, Director Skyknight Capital Fund Ii, L.P purchased 13,352 shares of the business’s stock in a transaction that occurred on Friday, March 4th. The stock was purchased at an average cost of $15.00 per share, with a total value of $200,280.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen P. Griggs purchased 32,342 shares of the business’s stock in a transaction that occurred on Thursday, March 3rd. The shares were purchased at an average cost 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 over the last ninety days. 17.30% of the stock is owned by insiders.

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.

Further Reading