AdaptHealth (NASDAQ:AHCO) Upgraded to Strong-Buy at Wall Street Zen

AdaptHealth (NASDAQ:AHCO) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

Several other equities analysts also recently issued reports on AHCO. Canaccord Genuity Group lifted their price objective on AdaptHealth from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Zacks Research raised AdaptHealth from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Finally, Weiss Ratings cut shares of AdaptHealth from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.60.

AdaptHealth Trading Down 0.3%

Shares of AdaptHealth stock opened at $10.61 on Friday. AdaptHealth has a 12-month low of $7.11 and a 12-month high of $11.63. The stock has a market capitalization of $1.44 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 1.21 and a beta of 1.71. The company has a 50-day simple moving average of $9.91 and a 200 day simple moving average of $9.49. The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 1.09.

AdaptHealth (NASDAQ:AHCO) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.05). The firm had revenue of $820.31 million for the quarter, compared to the consensus estimate of $799.62 million. AdaptHealth had a return on equity of 4.85% and a net margin of 2.53%.AdaptHealth’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.15 earnings per share. Research analysts expect that AdaptHealth will post 0.88 earnings per share for the current fiscal year.

Insider Activity

In other news, Director David Solomon Williams III sold 5,000 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $9.43, for a total transaction of $47,150.00. Following the completion of the sale, the director owned 45,045 shares of the company’s stock, valued at $424,774.35. This represents a 9.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of AdaptHealth by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,495 shares of the company’s stock worth $656,000 after acquiring an additional 2,564 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in AdaptHealth by 32.4% during the first quarter. Goldman Sachs Group Inc. now owns 571,232 shares of the company’s stock worth $6,192,000 after purchasing an additional 139,828 shares during the last quarter. Woodline Partners LP bought a new position in AdaptHealth in the first quarter valued at $2,851,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in AdaptHealth by 18.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,780 shares of the company’s stock valued at $2,534,000 after purchasing an additional 35,879 shares in the last quarter. Finally, Strs Ohio acquired a new stake in AdaptHealth in the 1st quarter valued at $695,000. 82.67% of the stock is owned by institutional investors and hedge funds.

About AdaptHealth

AdaptHealth, Inc operates as a leading provider of home medical equipment (HME) and related services in the United States. The company focuses on delivering respiratory care, mobility solutions and bathroom safety products to patients with chronic and acute medical needs. Through its comprehensive service offerings, AdaptHealth aims to enhance quality of life and clinical outcomes for patients who require long-term support outside of a hospital setting.

The company’s respiratory portfolio includes products such as continuous positive airway pressure (CPAP) devices, oxygen concentrators, ventilators, and associated supplies for patients with sleep apnea, COPD and other pulmonary conditions.