AdaptHealth (NASDAQ:AHCO) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of AdaptHealth (NASDAQ:AHCO) from a buy rating to a hold rating in a research report report published on Saturday.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group raised AdaptHealth from a “hold” rating to a “buy” rating and lifted their price objective for the company from $11.00 to $13.00 in a research report on Tuesday, July 21st. Royal Bank Of Canada reduced their target price on AdaptHealth from $15.00 to $8.00 and set an “outperform” rating on the stock in a research report on Thursday. UBS Group decreased their price target on AdaptHealth from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday. Canaccord Genuity Group set a $10.00 price target on AdaptHealth in a report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of AdaptHealth in a research note on Friday, May 22nd. 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.29.

AdaptHealth Trading Down 6.0%

Shares of AHCO opened at $5.69 on Friday. AdaptHealth has a fifty-two week low of $5.66 and a fifty-two week high of $13.43. The company has a market capitalization of $773.36 million, a PE ratio of -3.33, a price-to-earnings-growth ratio of 0.29 and a beta of 1.47. The stock has a fifty day moving average of $9.96 and a two-hundred day moving average of $10.55. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.71 and a current ratio of 1.12.

Insiders Place Their Bets

In related news, insider Russell E. Schuster III sold 11,275 shares of AdaptHealth stock in a transaction on Monday, June 1st. The stock was sold at an average price of $10.06, for a total value of $113,426.50. Following the transaction, the insider owned 136,538 shares in the company, valued at approximately $1,373,572.28. This trade represents a 7.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.95% of the company’s stock.

Hedge Funds Weigh In On AdaptHealth

Large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of AdaptHealth by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,495 shares of the company’s stock valued at $656,000 after purchasing an additional 2,564 shares in the last quarter. Goldman Sachs Group Inc. increased its position in AdaptHealth by 32.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 571,232 shares of the company’s stock worth $6,192,000 after purchasing an additional 139,828 shares in the last quarter. Woodline Partners LP purchased a new position in AdaptHealth in the first quarter valued at approximately $2,851,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in AdaptHealth by 18.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,780 shares of the company’s stock valued at $2,534,000 after buying an additional 35,879 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in AdaptHealth by 1.3% during the second quarter. JPMorgan Chase & Co. now owns 211,769 shares of the company’s stock valued at $1,997,000 after buying an additional 2,718 shares in the last quarter. 82.67% of the stock is currently owned by hedge funds and other institutional investors.

About AdaptHealth

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.