AdaptHealth (NASDAQ:AHCO) Releases Quarterly Earnings Results

AdaptHealth (NASDAQ:AHCO) released its earnings results on Tuesday. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($1.10), FiscalAI reports. The business had revenue of $846.29 million during the quarter, compared to the consensus estimate of $832.51 million. AdaptHealth had a net margin of 2.53% and a return on equity of 4.85%. The business’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 earnings per share.

AdaptHealth Stock Down 0.5%

AHCO stock opened at $10.29 on Tuesday. The stock has a fifty day moving average of $10.27 and a 200-day moving average of $9.67. AdaptHealth has a fifty-two week low of $7.11 and a fifty-two week high of $11.63. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 1.18 and a beta of 1.72. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.86 and a current ratio of 1.08.

Insider Buying and Selling

In other AdaptHealth news, Director David Solomon Williams III sold 5,000 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $9.43, for a total transaction of $47,150.00. Following the sale, the director directly owned 45,045 shares of the company’s stock, valued at $424,774.35. This represents a 9.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.55% of the stock is currently owned by company insiders.

Institutional Trading of AdaptHealth

Hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its stake in shares of AdaptHealth by 22.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock valued at $70,000 after buying an additional 1,279 shares in the last quarter. MetLife Investment Management LLC raised its holdings in AdaptHealth by 3.1% during the 4th quarter. MetLife Investment Management LLC now owns 57,364 shares of the company’s stock valued at $571,000 after acquiring an additional 1,749 shares during the period. Corient Private Wealth LLC lifted its position in shares of AdaptHealth by 8.6% during the fourth quarter. Corient Private Wealth LLC now owns 22,562 shares of the company’s stock worth $227,000 after acquiring an additional 1,794 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of AdaptHealth by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,495 shares of the company’s stock worth $656,000 after acquiring an additional 2,564 shares during the period. Finally, Vident Advisory LLC boosted its holdings in shares of AdaptHealth by 17.9% in the second quarter. Vident Advisory LLC now owns 17,737 shares of the company’s stock worth $167,000 after acquiring an additional 2,694 shares during the period. Institutional investors own 82.67% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on AHCO shares. Zacks Research raised AdaptHealth from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Weiss Ratings raised shares of AdaptHealth from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, January 30th. Wall Street Zen lowered shares of AdaptHealth from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Finally, Canaccord Genuity Group lifted their price objective on shares of AdaptHealth from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $14.25.

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.