AdaptHealth (NASDAQ:AHCO) Stock Rating Lowered by Wall Street Zen

AdaptHealth (NASDAQ:AHCO) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts have also recently issued reports on the stock. Canaccord Genuity Group raised their price objective on shares of AdaptHealth from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Weiss Ratings raised shares of AdaptHealth from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, January 30th. Finally, Zacks Research raised shares of AdaptHealth from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $14.25.

AdaptHealth Stock Up 1.1%

Shares of NASDAQ:AHCO opened at $10.20 on Friday. AdaptHealth has a 52-week low of $7.11 and a 52-week high of $11.63. The stock has a market cap of $1.38 billion, a P/E ratio of 18.55, a PEG ratio of 1.15 and a beta of 1.72. The business has a fifty day moving average of $10.24 and a two-hundred day moving average of $9.62. The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 1.09.

Insider Activity at AdaptHealth

In other news, Director David Solomon Williams III sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $9.43, for a total value of $47,150.00. Following the transaction, the director directly owned 45,045 shares in the company, valued at approximately $424,774.35. This represents a 9.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.55% of the company’s stock.

Institutional Trading of AdaptHealth

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deerfield Management Company L.P. raised its holdings in shares of AdaptHealth by 15.9% in the 3rd quarter. Deerfield Management Company L.P. now owns 11,477,730 shares of the company’s stock valued at $102,726,000 after buying an additional 1,572,835 shares during the period. Dimensional Fund Advisors LP grew its position in AdaptHealth by 15.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,982,070 shares of the company’s stock valued at $53,537,000 after acquiring an additional 809,459 shares in the last quarter. Reinhart Partners LLC. increased its stake in AdaptHealth by 10.6% during the fourth quarter. Reinhart Partners LLC. now owns 8,100,785 shares of the company’s stock worth $80,684,000 after purchasing an additional 773,727 shares during the period. Kennedy Capital Management LLC lifted its position in shares of AdaptHealth by 48.8% during the third quarter. Kennedy Capital Management LLC now owns 2,090,138 shares of the company’s stock worth $18,707,000 after purchasing an additional 685,554 shares in the last quarter. Finally, CSM Advisors LLC purchased a new position in shares of AdaptHealth in the second quarter valued at approximately $6,149,000. Hedge funds and other institutional investors own 82.67% of the company’s stock.

AdaptHealth Company Profile

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.