AdaptHealth (NASDAQ:AHCO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of AdaptHealth (NASDAQ:AHCO) from a sell rating to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.

Several other research analysts also recently weighed in on the stock. Canaccord Genuity Group set a $10.00 price target on shares of AdaptHealth in a research report on Wednesday, August 5th. Jefferies Financial Group upgraded AdaptHealth from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $11.00 to $13.00 in a report on Tuesday, July 21st. Royal Bank Of Canada lowered their price objective on AdaptHealth from $15.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Leerink Partners boosted their price objective on AdaptHealth from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Thursday, November 5th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of AdaptHealth in a report on Wednesday, August 19th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.43.

AdaptHealth Price Performance

Shares of AHCO stock opened at $7.35 on Friday. AdaptHealth has a 1-year low of $5.21 and a 1-year high of $13.43. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.53. The stock has a 50 day simple moving average of $6.03 and a 200-day simple moving average of $9.06.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Tuesday, November 3rd. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($1.08). The company had revenue of $745.65 million during the quarter, compared to analyst estimates of $725.87 million. AdaptHealth had a negative net margin of 12.90% and a negative return on equity of 0.27%. AdaptHealth’s revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 EPS.

Hedge Funds Weigh In On AdaptHealth

Hedge funds and other institutional investors have recently modified their holdings of the business. Hantz Financial Services Inc. lifted its stake in AdaptHealth by 7,826.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 9,829 shares of the company’s stock worth $55,000 after purchasing an additional 9,705 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of AdaptHealth by 6.8% during the 3rd quarter. Fifth Third Bancorp now owns 104,843 shares of the company’s stock worth $591,000 after purchasing an additional 6,692 shares during the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of AdaptHealth by 52.8% during the 3rd quarter. Maryland State Retirement & Pension System now owns 24,062 shares of the company’s stock worth $136,000 after purchasing an additional 8,314 shares during the last quarter. Fulcrum Asset Management LLP grew its position in shares of AdaptHealth by 526.4% in the third quarter. Fulcrum Asset Management LLP now owns 24,456 shares of the company’s stock valued at $139,000 after purchasing an additional 20,552 shares in the last quarter. Finally, Brickley Wealth Management purchased a new stake in shares of AdaptHealth in the third quarter valued at approximately $56,000. 82.67% of the stock is owned by hedge funds and other institutional investors.

About AdaptHealth

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.