AdaptHealth (NASDAQ:AHCO) Rating Lowered to “Hold” at Wall Street Zen

AdaptHealth (NASDAQ:AHCO) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other analysts have also issued reports on AHCO. Zacks Research raised AdaptHealth from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of AdaptHealth in a research report on Wednesday. Weiss Ratings lowered shares of AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday. Leerink Partners cut their price target on shares of AdaptHealth from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Canaccord Genuity Group lifted their price objective on shares of AdaptHealth from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.25.

AdaptHealth Stock Performance

Shares of NASDAQ:AHCO opened at $9.15 on Friday. AdaptHealth has a 12-month low of $7.11 and a 12-month high of $11.53. The company’s 50 day moving average price is $10.17 and its two-hundred day moving average price is $9.66. The firm has a market cap of $1.24 billion, a PE ratio of -16.64, a PEG ratio of 1.12 and a beta of 1.72. The company has a quick ratio of 0.86, a current ratio of 1.02 and a debt-to-equity ratio of 1.15.

AdaptHealth (NASDAQ:AHCO) last issued its quarterly earnings results on Tuesday, February 24th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($1.10). The company had revenue of $846.29 million during the quarter, compared to the consensus estimate of $832.51 million. AdaptHealth had a negative net margin of 2.18% and a positive return on equity of 3.42%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 earnings per share. Equities research analysts predict that AdaptHealth will post 0.88 earnings per share for the current year.

Insider Buying and Selling

In other news, Director David Solomon Williams III sold 5,000 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $9.43, for a total value of $47,150.00. Following the completion of the sale, the director directly owned 45,045 shares in the company, valued at $424,774.35. This trade represents a 9.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.55% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AlphaQuest LLC increased its position in AdaptHealth by 275.7% in the second quarter. AlphaQuest LLC now owns 3,941 shares of the company’s stock worth $37,000 after buying an additional 2,892 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of AdaptHealth in the third quarter valued at approximately $35,000. Assetmark Inc. lifted its stake in shares of AdaptHealth by 87.6% during the 2nd quarter. Assetmark Inc. now owns 5,529 shares of the company’s stock valued at $52,000 after buying an additional 2,581 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in AdaptHealth by 22.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock worth $70,000 after buying an additional 1,279 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in AdaptHealth by 318.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock valued at $90,000 after buying an additional 7,297 shares in the last quarter. 82.67% of the stock is currently owned by hedge funds and other institutional investors.

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.