AdaptHealth (NASDAQ:AHCO) Hits New 1-Year High – Still a Buy?

AdaptHealth Corp. (NASDAQ:AHCO)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $12.10 and last traded at $12.1510, with a volume of 59181 shares traded. The stock had previously closed at $12.03.

Analyst Upgrades and Downgrades

AHCO has been the subject of several research analyst reports. Leerink Partners decreased their price objective on shares of AdaptHealth from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th. Wall Street Zen cut AdaptHealth from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Zacks Research raised AdaptHealth from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Weiss Ratings cut AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, February 25th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $13.00 price target on shares of AdaptHealth in a research note on Wednesday, February 25th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.25.

AdaptHealth Stock Up 1.8%

The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -22.29, a PEG ratio of 1.38 and a beta of 1.50. 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 firm’s 50 day simple moving average is $10.29 and its 200-day simple moving average is $9.87.

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

Insider Buying and Selling

In other AdaptHealth news, major shareholder Richard M. Cashin, Jr. acquired 447,100 shares of the stock in a transaction on Friday, March 20th. The shares were bought at an average price of $9.91 per share, with a total value of $4,430,761.00. Following the acquisition, the insider owned 16,312,698 shares of the company’s stock, valued at $161,658,837.18. This trade represents a 2.82% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought a total of 2,494,518 shares of company stock valued at $24,352,291 in the last three months. 1.55% of the stock is owned by company insiders.

Institutional Trading of AdaptHealth

Several hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in shares of AdaptHealth by 22.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock valued at $70,000 after buying an additional 1,279 shares in the last quarter. MetLife Investment Management LLC raised its position in AdaptHealth by 3.1% in the fourth quarter. MetLife Investment Management LLC now owns 57,364 shares of the company’s stock worth $571,000 after acquiring an additional 1,749 shares in the last quarter. Corient Private Wealth LLC raised its position in AdaptHealth by 8.6% in the fourth quarter. Corient Private Wealth LLC now owns 22,562 shares of the company’s stock worth $227,000 after acquiring an additional 1,794 shares in the last quarter. CWM LLC lifted its holdings in AdaptHealth by 17.5% in the third quarter. CWM LLC now owns 12,306 shares of the company’s stock valued at $110,000 after acquiring an additional 1,835 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its position in shares of AdaptHealth by 433.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company’s stock worth $26,000 after purchasing an additional 2,100 shares in the last quarter. 82.67% of the stock is owned by institutional investors and hedge funds.

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.