AdaptHealth (NASDAQ:AHCO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday, Zacks.com reports.
According to Zacks, “AdaptHealth Corp. is a provider of home medical equipment primarily in the United States. It offers medical products for both rental and sale, with a focus on respiratory and/or mobility equipment, including CPAP sleep equipment, oxygen equipment, wheelchairs, walkers and hospital beds. AdaptHealth Corp., formerly known as DFB Healthcare Acquisitions Corp., is based in PLYMOUTH MEETING. “
Other analysts have also recently issued reports about the stock. SVB Leerink raised their target price on shares of AdaptHealth from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, November 5th. Truist decreased their target price on AdaptHealth from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, October 13th. Truist Securities reduced their target price on AdaptHealth from $40.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, October 13th. Finally, TheStreet raised AdaptHealth from a “d” rating to a “c-” rating in a research note on Thursday, November 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $39.50.
AdaptHealth stock traded down $1.19 during trading hours on Monday, hitting $20.41. 57,326 shares of the company traded hands, compared to its average volume of 1,087,309. The firm has a market cap of $2.70 billion, a P/E ratio of -88.74, a P/E/G ratio of 0.50 and a beta of 0.03. The company has a quick ratio of 1.44, a current ratio of 1.64 and a debt-to-equity ratio of 1.10. The firm’s 50-day simple moving average is $24.27 and its two-hundred day simple moving average is $24.93. AdaptHealth has a 1-year low of $21.00 and a 1-year high of $41.58.
AdaptHealth (NASDAQ:AHCO) last released its earnings results on Thursday, November 4th. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.08). The company had revenue of $653.30 million for the quarter, compared to analyst estimates of $638.74 million. AdaptHealth had a net margin of 4.86% and a return on equity of 9.73%. The firm’s quarterly revenue was up 129.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 EPS. On average, equities research analysts predict that AdaptHealth will post 1.37 earnings per share for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC increased its position in AdaptHealth by 2.2% in the 2nd quarter. Los Angeles Capital Management LLC now owns 19,985 shares of the company’s stock worth $548,000 after purchasing an additional 430 shares during the last quarter. Harbor Investment Advisory LLC raised its stake in shares of AdaptHealth by 28.7% during the 2nd quarter. Harbor Investment Advisory LLC now owns 2,240 shares of the company’s stock worth $61,000 after purchasing an additional 500 shares in the last quarter. Legal & General Group Plc raised its stake in shares of AdaptHealth by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 9,583 shares of the company’s stock worth $263,000 after purchasing an additional 798 shares in the last quarter. First Mercantile Trust Co. raised its stake in shares of AdaptHealth by 22.6% during the 2nd quarter. First Mercantile Trust Co. now owns 4,888 shares of the company’s stock worth $134,000 after purchasing an additional 902 shares in the last quarter. Finally, US Bancorp DE raised its stake in shares of AdaptHealth by 142.4% during the 3rd quarter. US Bancorp DE now owns 1,939 shares of the company’s stock worth $46,000 after purchasing an additional 1,139 shares in the last quarter. 50.85% of the stock is owned by hedge funds and other institutional investors.
About AdaptHealth
AdaptHealth Corp. engages in the provision of home healthcare equipment, supplies and related services. It focuses on sleep therapy equipment to individuals suffering from obstructive sleep apnea (OSA), home medical equipment to patients discharged from acute care and other facilities, oxygen and related chronic therapy services in the home, and HME medical devices and supplies on behalf of chronically ill patients with diabetes care, wound care, urological, ostomy, and nutritional supply needs.