AdaptHealth Corp. (NASDAQ:AHCO) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Shares of AdaptHealth Corp. (NASDAQ:AHCO) have received a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $9.43.

A number of equities analysts recently issued reports on the company. Canaccord Genuity Group set a $10.00 target price on AdaptHealth in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of AdaptHealth from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings restated a “sell (d)” rating on shares of AdaptHealth in a report on Wednesday, August 19th. Royal Bank Of Canada lowered their price objective on shares of AdaptHealth from $15.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Finally, Leerink Partners lifted their price objective on shares of AdaptHealth from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Thursday.

AdaptHealth Stock Performance

Shares of AdaptHealth stock opened at $7.33 on Monday. The business has a 50-day simple moving average of $6.00 and a 200 day simple moving average of $9.07. AdaptHealth has a one year low of $5.21 and a one year high of $13.43. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.13 and a quick ratio of 0.98. The firm has a market capitalization of $999.37 million, a price-to-earnings ratio of -2.44 and a beta of 1.36.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($1.08). AdaptHealth had a negative return on equity of 0.27% and a negative net margin of 12.90%. The firm had revenue of $745.65 million during the quarter, compared to the consensus estimate of $725.87 million. During the same quarter in the previous year, the company posted $0.16 EPS. The firm’s revenue was down 9.1% on a year-over-year basis.

Hedge Funds Weigh In On AdaptHealth

Several large investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership raised 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 valued at $10,080,000 after purchasing an additional 395,668 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in AdaptHealth by 25.1% during the first quarter. Principal Financial Group Inc. now owns 2,784,316 shares of the company’s stock worth $33,133,000 after purchasing an additional 558,357 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in AdaptHealth by 35.0% during the first quarter. Lazard Asset Management LLC now owns 1,669,454 shares of the company’s stock worth $19,867,000 after purchasing an additional 432,664 shares during the last quarter. Corient Private Wealth LP boosted its holdings in AdaptHealth by 259.0% during the second quarter. Corient Private Wealth LP now owns 224,099 shares of the company’s stock worth $2,335,000 after purchasing an additional 161,677 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in AdaptHealth in the 2nd quarter worth about $966,000. Institutional investors own 82.67% of the company’s stock.

AdaptHealth Company Profile

AdaptHealth Corp. (NASDAQ: AHCO) is a provider of home medical equipment, supplies and related healthcare services in the United States. The company helps patients manage chronic conditions and recover from illness or injury outside of traditional healthcare facilities, working with individuals, caregivers, physicians and payers.

Its products and services include respiratory equipment and supplies, oxygen therapy, sleep therapy devices such as continuous positive airway pressure systems, diabetes management products, mobility and accessibility equipment, and other durable medical equipment.