AdaptHealth Corp. (NASDAQ:AHCO) Receives Average Rating of “Hold” from Brokerages

AdaptHealth Corp. (NASDAQ:AHCO) has been assigned an average recommendation of “Hold” from the seven brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $12.10.

AHCO has been the subject of several recent research reports. Truist Financial increased their target price on shares of AdaptHealth from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. UBS Group increased their target price on shares of AdaptHealth from $9.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Jefferies Financial Group lowered shares of AdaptHealth from a “buy” rating to a “hold” rating and cut their target price for the company from $14.50 to $8.00 in a research note on Monday, January 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $13.00 target price on shares of AdaptHealth in a research note on Monday, March 4th.

Insiders Place Their Bets

In other AdaptHealth news, major shareholder James E. Flynn sold 182,607 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $11.02, for a total value of $2,012,329.14. Following the completion of the sale, the insider now owns 11,643,769 shares in the company, valued at approximately $128,314,334.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, major shareholder James E. Flynn sold 52,487 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $10.93, for a total transaction of $573,682.91. Following the transaction, the insider now owns 11,826,376 shares in the company, valued at approximately $129,262,289.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder James E. Flynn sold 182,607 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $11.02, for a total transaction of $2,012,329.14. Following the completion of the transaction, the insider now owns 11,643,769 shares in the company, valued at $128,314,334.38. The disclosure for this sale can be found here. Insiders own 13.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AHCO. Deerfield Management Company L.P. Series C boosted its position in shares of AdaptHealth by 22.7% during the 3rd quarter. Deerfield Management Company L.P. Series C now owns 13,607,940 shares of the company’s stock valued at $123,832,000 after acquiring an additional 2,513,026 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of AdaptHealth by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 9,199,481 shares of the company’s stock valued at $67,064,000 after acquiring an additional 542,928 shares in the last quarter. Reinhart Partners LLC. lifted its holdings in AdaptHealth by 3.6% during the 1st quarter. Reinhart Partners LLC. now owns 4,210,211 shares of the company’s stock valued at $48,460,000 after purchasing an additional 144,516 shares during the last quarter. Finally, State Street Corp lifted its holdings in AdaptHealth by 70.2% during the 3rd quarter. State Street Corp now owns 2,738,342 shares of the company’s stock valued at $51,426,000 after purchasing an additional 1,129,895 shares during the last quarter. 82.67% of the stock is currently owned by institutional investors and hedge funds.

AdaptHealth Price Performance

NASDAQ AHCO opened at $10.93 on Thursday. AdaptHealth has a 52 week low of $6.37 and a 52 week high of $15.37. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.44. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -2.06, a price-to-earnings-growth ratio of 0.73 and a beta of 1.02. The company has a 50-day moving average price of $9.17 and a two-hundred day moving average price of $8.29.

AdaptHealth (NASDAQ:AHCO) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.44. The company had revenue of $858.23 million during the quarter, compared to analyst estimates of $825.94 million. AdaptHealth had a negative net margin of 21.21% and a positive return on equity of 8.84%. Analysts forecast that AdaptHealth will post 0.88 EPS for the current year.

AdaptHealth Company Profile

AdaptHealth Corp., together with its subsidiaries, sells home medical equipment (HME), medical supplies, and home and related services in the United States. The company provides sleep therapy equipment, supplies, and related services, such as CPAP and bi-PAP services to individuals suffering from obstructive sleep apnea; medical devices and supplies, including continuous glucose monitors and insulin pumps for the treatment of diabetes; HME to patients discharged from acute care and other facilities; oxygen and related chronic therapy services in the home; and other HME devices and supplies on behalf of chronically ill patients with wound care, urological, incontinence, ostomy, and nutritional supply needs.