AdaptHealth (NASDAQ:AHCO) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of AdaptHealth (NASDAQ:AHCO) from a buy rating to a hold rating in a research note released on Saturday morning.

Several other research analysts have also issued reports on the stock. Weiss Ratings lowered shares of AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, February 25th. Zacks Research raised AdaptHealth from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 1st. Leerink Partners cut their price objective on AdaptHealth from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Thursday. Royal Bank Of Canada reiterated an “outperform” rating and set a $13.00 price objective on shares of AdaptHealth in a research report on Wednesday, February 25th. Finally, Canaccord Genuity Group boosted their target price on AdaptHealth from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, AdaptHealth has a consensus rating of “Moderate Buy” and a consensus price target of $13.25.

AdaptHealth Stock Up 5.4%

Shares of NASDAQ AHCO opened at $9.64 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 1.15. The business has a 50-day moving average of $10.16 and a 200-day moving average of $9.66. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -17.53, a PEG ratio of 1.13 and a beta of 1.76. AdaptHealth has a 12 month low of $7.11 and a 12 month high of $11.53.

AdaptHealth (NASDAQ:AHCO) last announced its 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). AdaptHealth had a negative net margin of 2.18% and a positive return on equity of 3.42%. The company had revenue of $846.29 million for the quarter, compared to the consensus estimate of $832.51 million. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. Sell-side analysts expect that AdaptHealth will post 0.88 earnings per share for the current fiscal year.

Insider Activity at AdaptHealth

In other news, Director David Solomon Williams III sold 5,000 shares of the business’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 owned 45,045 shares of the company’s stock, valued at approximately $424,774.35. The trade was a 9.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.55% of the company’s stock.

Hedge Funds Weigh In On AdaptHealth

A number of large investors have recently bought and sold shares of the stock. Exchange Traded Concepts LLC bought a new stake in AdaptHealth during the 3rd quarter valued at $1,171,000. CSM Advisors LLC bought a new stake in AdaptHealth in the 2nd quarter worth $6,149,000. Teacher Retirement System of Texas increased its position in shares of AdaptHealth by 93.3% in the second quarter. Teacher Retirement System of Texas now owns 84,396 shares of the company’s stock valued at $796,000 after acquiring an additional 40,742 shares during the period. Prospera Financial Services Inc raised its stake in shares of AdaptHealth by 75.2% during the second quarter. Prospera Financial Services Inc now owns 43,287 shares of the company’s stock valued at $408,000 after acquiring an additional 18,586 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of AdaptHealth by 60.3% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 644,332 shares of the company’s stock valued at $6,076,000 after acquiring an additional 242,347 shares during the last quarter. 82.67% of the stock is 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.