AdaptHealth (NASDAQ:AHCO) Stock Price Up 4.8% – Still a Buy?

AdaptHealth Corp. (NASDAQ:AHCO)’s share price was up 4.8% during mid-day trading on Wednesday. The stock traded as high as $6.03 and last traded at $6.0450. Approximately 1,071,789 shares changed hands during trading, a decline of 43% from the average daily volume of 1,868,174 shares. The stock had previously closed at $5.77.

Analyst Ratings Changes

Several equities analysts have recently commented on AHCO shares. Canaccord Genuity Group set a $10.00 price objective on shares of AdaptHealth in a research note on Wednesday, August 5th. Royal Bank Of Canada dropped their price target on AdaptHealth from $15.00 to $8.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Weiss Ratings reissued a “sell (d)” rating on shares of AdaptHealth in a research report on Wednesday, August 19th. Robert W. Baird lowered their price target on AdaptHealth from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, September 17th. Finally, UBS Group dropped their price target on shares of AdaptHealth from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Seven investment 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.14.

AdaptHealth Price Performance

The stock has a 50 day simple moving average of $6.21 and a 200-day simple moving average of $9.30. The firm has a market cap of $824.18 million, a PE ratio of -3.54 and a beta of 1.42. The company has a current ratio of 1.12, a quick ratio of 0.98 and a debt-to-equity ratio of 1.37.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($1.16). The business had revenue of $740.31 million during the quarter, compared to analysts’ expectations of $846.77 million. AdaptHealth had a positive return on equity of 3.36% and a negative net margin of 7.07%.The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 earnings per share.

Insider Buying and Selling

In other AdaptHealth news, Director Kenneth Samet acquired 23,500 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was acquired at an average cost of $6.38 per share, with a total value of $149,930.00. Following the purchase, the director directly owned 48,569 shares of the company’s stock, valued at approximately $309,870.22. This represents a 93.74% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.95% of the stock is owned by company insiders.

Institutional Trading of AdaptHealth

Several hedge funds and other institutional investors have recently bought and sold shares of AHCO. Corient Private Wealth LP lifted its holdings in AdaptHealth by 259.0% during the 2nd quarter. Corient Private Wealth LP now owns 224,099 shares of the company’s stock valued at $2,335,000 after buying an additional 161,677 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in AdaptHealth during the 2nd quarter valued at about $966,000. Readystate Asset Management LP lifted its position in shares of AdaptHealth by 37.5% in the 2nd quarter. Readystate Asset Management LP now owns 278,882 shares of the company’s stock worth $2,906,000 after purchasing an additional 76,009 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in AdaptHealth during the second quarter worth $56,000. Finally, Paradigm Capital Management Inc. NY bought a new stake in AdaptHealth during the 2nd quarter valued at $1,263,000. Hedge funds and other institutional investors own 82.67% of the company’s stock.

AdaptHealth Company Profile

AdaptHealth Corp. is a provider of home healthcare equipment, medical supplies and related services in the United States. The company helps patients manage medical conditions outside traditional healthcare settings by delivering equipment to their homes and providing education, setup and ongoing support.

Its offerings include respiratory equipment such as oxygen systems and ventilators, sleep therapy products including continuous positive airway pressure (CPAP) devices, diabetes supplies, mobility and assistive equipment, and other durable medical equipment.