AdaptHealth (NASDAQ:AHCO) Sets New 1-Year High on Analyst Upgrade

AdaptHealth Corp. (NASDAQ:AHCO) shares hit a new 52-week high on Monday after Truist Financial raised their price target on the stock from $13.00 to $14.00. Truist Financial currently has a buy rating on the stock. AdaptHealth traded as high as $12.55 and last traded at $12.3780, with a volume of 117019 shares. The stock had previously closed at $12.17.

A number of other research analysts have also weighed in on AHCO. Weiss Ratings lowered AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday, February 25th. Wall Street Zen lowered AdaptHealth from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $13.00 target price on shares of AdaptHealth in a report on Wednesday, February 25th. Zacks Research raised AdaptHealth from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Finally, Leerink Partners reduced their target price on AdaptHealth from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.50.

Insider Activity

In other AdaptHealth news, major shareholder Richard M. Cashin, Jr. purchased 447,100 shares of the company’s stock in a transaction dated Friday, March 20th. The stock was purchased at an average price of $9.91 per share, for a total transaction of $4,430,761.00. Following the transaction, the insider owned 16,312,698 shares in the company, valued at $161,658,837.18. The trade was a 2.82% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders bought 2,494,518 shares of company stock worth $24,352,291. Company insiders own 1.55% of the company’s stock.

Institutional Trading of AdaptHealth

Large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in AdaptHealth by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,495 shares of the company’s stock worth $656,000 after buying an additional 2,564 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in AdaptHealth by 32.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 571,232 shares of the company’s stock worth $6,192,000 after buying an additional 139,828 shares during the last quarter. Woodline Partners LP bought a new stake in AdaptHealth in the 1st quarter worth approximately $2,851,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in AdaptHealth by 18.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,780 shares of the company’s stock worth $2,534,000 after buying an additional 35,879 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in AdaptHealth by 1.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 211,769 shares of the company’s stock worth $1,997,000 after buying an additional 2,718 shares during the last quarter. Institutional investors own 82.67% of the company’s stock.

AdaptHealth Stock Up 3.7%

The stock has a 50-day moving average of $10.61 and a two-hundred day moving average of $10.04. The company has a market cap of $1.74 billion, a P/E ratio of -23.22, a P/E/G ratio of 1.42 and a beta of 1.50. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.81 and a current ratio of 1.02.

AdaptHealth (NASDAQ:AHCO) last released its earnings results on Tuesday, February 24th. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($1.10). The firm had revenue of $846.29 million during the quarter, compared to the consensus estimate of $832.51 million. AdaptHealth had a positive return on equity of 3.42% and a negative net margin of 2.18%.The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 EPS. On average, research analysts anticipate that AdaptHealth Corp. will post 0.88 EPS for the current fiscal year.

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.