Wall Street Zen Downgrades AdaptHealth (NASDAQ:AHCO) to Sell

AdaptHealth (NASDAQ:AHCO) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Sunday.

Several other brokerages have also issued reports on AHCO. Robert W. Baird set a $10.00 target price on AdaptHealth in a research report on Wednesday, August 5th. Canaccord Genuity Group set a $10.00 price target on shares of AdaptHealth in a report on Wednesday, August 5th. Truist Financial reduced their price target on shares of AdaptHealth from $14.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Royal Bank Of Canada decreased their price objective on shares of AdaptHealth from $15.00 to $8.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Finally, Jefferies Financial Group raised shares of 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 research report on Tuesday, July 21st. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.29.

AdaptHealth Price Performance

AdaptHealth stock opened at $5.81 on Friday. AdaptHealth has a 52 week low of $5.21 and a 52 week high of $13.43. The company’s 50 day moving average price is $9.47 and its two-hundred day moving average price is $10.36. The stock has a market cap of $792.16 million, a P/E ratio of -3.40, a P/E/G ratio of 0.30 and a beta of 1.47. The company has a quick ratio of 0.98, a current ratio of 1.12 and a debt-to-equity ratio of 1.37.

AdaptHealth (NASDAQ:AHCO) last released its earnings results on Tuesday, August 4th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($1.16). The business had revenue of $740.31 million during the quarter, compared to the consensus estimate of $846.77 million. AdaptHealth had a negative net margin of 7.07% and a positive return on equity of 3.36%. The business’s revenue was down 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 earnings per share. On average, equities analysts predict that AdaptHealth will post 0.44 earnings per share for the current year.

Insider Buying and Selling

In other AdaptHealth news, insider Russell E. Schuster III sold 11,275 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $10.06, for a total transaction of $113,426.50. Following the sale, the insider owned 136,538 shares in the company, valued at $1,373,572.28. This represents a 7.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth A. Samet purchased 23,500 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was bought at an average cost of $6.38 per share, with a total value of $149,930.00. Following the completion of the acquisition, the director directly owned 48,569 shares of the company’s stock, valued at approximately $309,870.22. This trade represents a 93.74% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AdaptHealth

Several hedge funds have recently made changes to their positions in AHCO. Kennedy Capital Management LLC boosted its stake in AdaptHealth by 15.2% in the 4th quarter. Kennedy Capital Management LLC now owns 2,408,038 shares of the company’s stock worth $23,984,000 after purchasing an additional 317,900 shares during the period. Reinhart Partners LLC. increased its position in shares of AdaptHealth by 10.6% during the fourth quarter. Reinhart Partners LLC. now owns 8,100,785 shares of the company’s stock valued at $80,684,000 after buying an additional 773,727 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of AdaptHealth by 87.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 847,085 shares of the company’s stock worth $10,080,000 after buying an additional 395,668 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of AdaptHealth by 25.1% in the first quarter. Principal Financial Group Inc. now owns 2,784,316 shares of the company’s stock worth $33,133,000 after buying an additional 558,357 shares in the last quarter. Finally, Hudson Edge Investment Partners Inc. purchased a new stake in shares of AdaptHealth in the fourth quarter worth about $614,000. 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.