AdaptHealth (NASDAQ:AHCO) Shares Climb 11.9% – Still a Buy?

AdaptHealth Corp. (NASDAQ:AHCO) shares shot up 11.9% during trading on Wednesday. The stock traded as high as $6.88 and last traded at $7.0250. 1,560,571 shares traded hands during trading, a decline of 19% from the average session volume of 1,920,893 shares. The stock had previously closed at $6.28.

Analyst Upgrades and Downgrades

Several research firms have commented on AHCO. UBS Group dropped their price objective on shares of AdaptHealth from $14.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Jefferies Financial Group upgraded AdaptHealth from a “hold” rating to a “buy” rating and boosted their price objective for the company from $11.00 to $13.00 in a report on Tuesday, July 21st. Canaccord Genuity Group set a $10.00 price objective on AdaptHealth in a research report on Wednesday, August 5th. Robert W. Baird reduced their target price on AdaptHealth from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, September 17th. Finally, Royal Bank Of Canada cut their price target on shares of AdaptHealth from $15.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, AdaptHealth has an average rating of “Moderate Buy” and a consensus target price of $10.14.

AdaptHealth Price Performance

The firm has a fifty day simple moving average of $5.90 and a 200 day simple moving average of $9.12. The company has a market capitalization of $1.01 billion, a PE ratio of -4.34 and a beta of 1.36. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.98 and a current ratio of 1.12.

AdaptHealth (NASDAQ:AHCO) last issued its earnings results on Tuesday, November 3rd. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($1.08). AdaptHealth had a positive return on equity of 3.36% and a negative net margin of 7.07%. The firm had revenue of $745.65 million during the quarter, compared to analysts’ expectations of $725.87 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. AdaptHealth’s quarterly revenue was down 9.1% compared to the same quarter last year.

Insiders Place Their Bets

In related news, Director Kenneth Samet bought 23,500 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were acquired at an average price of $6.38 per share, with a total value of $149,930.00. Following the transaction, the director owned 48,569 shares of the company’s stock, valued at $309,870.22. The trade was a 93.74% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AdaptHealth

A number of hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. grew its position in 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 during the last quarter. Assetmark Inc. increased its stake in AdaptHealth by 54.8% during the 1st quarter. Assetmark Inc. now owns 6,952 shares of the company’s stock valued at $83,000 after purchasing an additional 2,460 shares in the last quarter. State of Wyoming raised its holdings in shares of AdaptHealth by 9.3% in the first quarter. State of Wyoming now owns 28,986 shares of the company’s stock worth $345,000 after buying an additional 2,464 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of AdaptHealth by 10.3% in the first quarter. Cetera Investment Advisers now owns 34,329 shares of the company’s stock worth $409,000 after buying an additional 3,212 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in shares of AdaptHealth by 49.4% during the first quarter. Pictet Asset Management Holding SA now owns 15,644 shares of the company’s stock worth $186,000 after buying an additional 5,171 shares during the period. 82.67% of the stock is currently owned by hedge funds and other institutional investors.

AdaptHealth Company Profile

AdaptHealth Corp. (NASDAQ: AHCO) is a provider of home medical equipment, supplies and related healthcare services in the United States. The company helps patients manage chronic conditions and recover from illness or injury outside of traditional healthcare facilities, working with individuals, caregivers, physicians and payers.

Its products and services include respiratory equipment and supplies, oxygen therapy, sleep therapy devices such as continuous positive airway pressure systems, diabetes management products, mobility and accessibility equipment, and other durable medical equipment.