Wall Street Zen Upgrades AdaptHealth (NASDAQ:AHCO) to “Strong-Buy”

AdaptHealth (NASDAQ:AHCO) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

A number of other equities analysts also recently commented on AHCO. Canaccord Genuity Group upped their target price on shares of AdaptHealth from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Zacks Research upgraded AdaptHealth from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Finally, Weiss Ratings downgraded AdaptHealth from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday. Five equities research 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $13.60.

AdaptHealth Stock Performance

AHCO stock opened at $10.61 on Friday. AdaptHealth has a twelve month low of $7.11 and a twelve month high of $11.63. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 1.21 and a beta of 1.71. The business’s fifty day simple moving average is $9.91 and its two-hundred day simple moving average is $9.49. The company has a quick ratio of 0.86, a current ratio of 1.08 and a debt-to-equity ratio of 1.09.

AdaptHealth (NASDAQ:AHCO) last issued its earnings results on Tuesday, November 4th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.05). The company had revenue of $820.31 million for the quarter, compared to analysts’ expectations of $799.62 million. AdaptHealth had a net margin of 2.53% and a return on equity of 4.85%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.15 earnings per share. Analysts predict that AdaptHealth will post 0.88 earnings per share for the current year.

Insiders Place Their Bets

In other AdaptHealth news, Director David Solomon Williams III sold 5,000 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $9.43, for a total transaction of $47,150.00. Following the sale, the director owned 45,045 shares of the company’s stock, valued at approximately $424,774.35. This trade represents a 9.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.55% 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. Deerfield Management Company L.P. grew its stake in AdaptHealth by 15.9% in the third quarter. Deerfield Management Company L.P. now owns 11,477,730 shares of the company’s stock valued at $102,726,000 after purchasing an additional 1,572,835 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of AdaptHealth by 15.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,982,070 shares of the company’s stock valued at $53,537,000 after buying an additional 809,459 shares in the last quarter. Kennedy Capital Management LLC boosted its holdings in shares of AdaptHealth by 48.8% in the 3rd quarter. Kennedy Capital Management LLC now owns 2,090,138 shares of the company’s stock valued at $18,707,000 after buying an additional 685,554 shares in the last quarter. Invesco Ltd. grew its position in shares of AdaptHealth by 50.0% in the 2nd quarter. Invesco Ltd. now owns 1,906,074 shares of the company’s stock worth $17,974,000 after buying an additional 634,973 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of AdaptHealth by 12.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,266,450 shares of the company’s stock worth $11,335,000 after acquiring an additional 142,616 shares in the last quarter. 82.67% of the stock is currently owned by hedge funds and other institutional investors.

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.