Robert W. Baird Lowers AdaptHealth (NASDAQ:AHCO) to Neutral


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Robert W. Baird cut shares of AdaptHealth (NASDAQ:AHCO) from an outperform rating to a neutral rating in a research note released on Tuesday, Analyst Ratings Network reports. They currently have $35.00 price target on the stock.

AHCO has been the topic of a number of other reports. Truist started coverage on shares of AdaptHealth in a research report on Thursday, March 18th. They issued a buy rating and a $48.00 target price on the stock. Canaccord Genuity lifted their target price on AdaptHealth from $39.00 to $50.00 and gave the stock a buy rating in a research report on Thursday, January 7th. Zacks Investment Research raised AdaptHealth from a sell rating to a hold rating in a research report on Friday, March 5th. Bank of America initiated coverage on AdaptHealth in a research report on Tuesday, January 26th. They set a buy rating and a $46.00 price target on the stock. Finally, Truist Securities assumed coverage on AdaptHealth in a report on Wednesday, March 24th. They issued a buy rating and a $48.00 price objective for the company. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $43.05.

NASDAQ:AHCO opened at $29.17 on Tuesday. AdaptHealth has a 12 month low of $13.60 and a 12 month high of $41.58. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.54 and a quick ratio of 1.39. The firm has a market capitalization of $3.35 billion and a PE ratio of -486.09. The business’s fifty day moving average price is $34.86 and its 200 day moving average price is $33.26.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings data on Wednesday, March 3rd. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.60). The business had revenue of $348.40 million during the quarter, compared to analysts’ expectations of $323.09 million. AdaptHealth had a negative net margin of 0.24% and a positive return on equity of 10.08%. The company’s quarterly revenue was up 133.0% on a year-over-year basis. As a group, equities analysts anticipate that AdaptHealth will post 0.23 EPS for the current year.

In related news, Director Dale B. Wolf purchased 7,000 shares of the business’s stock in a transaction dated Tuesday, March 16th. The stock was acquired at an average price of $37.99 per share, for a total transaction of $265,930.00. Following the acquisition, the director now directly owns 27,009 shares of the company’s stock, valued at approximately $1,026,071.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Shaw Rietkerk sold 55,000 shares of the firm’s stock in a transaction dated Friday, March 12th. The shares were sold at an average price of $37.23, for a total transaction of $2,047,650.00. Following the completion of the sale, the chief operating officer now owns 250,053 shares of the company’s stock, valued at approximately $9,309,473.19. The disclosure for this sale can be found here. Corporate insiders own 10.89% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in AHCO. State Street Corp raised its position in shares of AdaptHealth by 348.2% during the 3rd quarter. State Street Corp now owns 359,967 shares of the company’s stock worth $7,851,000 after purchasing an additional 279,658 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in AdaptHealth during the 3rd quarter worth about $1,018,000. JPMorgan Chase & Co. raised its stake in AdaptHealth by 141.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 15,326 shares of the company’s stock valued at $324,000 after purchasing an additional 8,971 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in AdaptHealth by 403.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 222,349 shares of the company’s stock valued at $4,850,000 after purchasing an additional 178,197 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of AdaptHealth by 26.0% during the 3rd quarter. Jane Street Group LLC now owns 28,711 shares of the company’s stock worth $626,000 after purchasing an additional 5,926 shares during the last quarter. Institutional investors and hedge funds own 28.37% of the company’s stock.

About AdaptHealth

AdaptHealth Corp., together with its subsidiaries, provides home healthcare equipment, 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; home medical equipment (HME) to patients discharged from acute care and other facilities; oxygen and related chronic therapy services in the home; and other HME medical devices and supplies on behalf of chronically ill patients with diabetes care, wound care, urological, ostomy, and nutritional supply needs.

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Analyst Recommendations for AdaptHealth (NASDAQ:AHCO)

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