AdaptHealth (NASDAQ:AHCO) Hits New 52-Week High – Still a Buy?

AdaptHealth Corp. (NASDAQ:AHCO) shares reached a new 52-week high on Friday . The company traded as high as $12.94 and last traded at $12.8080, with a volume of 474235 shares traded. The stock had previously closed at $12.73.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AHCO shares. Zacks Research upgraded shares of AdaptHealth from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Truist Financial boosted their target price on shares of AdaptHealth from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Jefferies Financial Group reiterated a “hold” rating and set a $11.00 target price on shares of AdaptHealth in a research report on Monday. Royal Bank Of Canada reiterated an “outperform” rating and set a $13.00 target price on shares of AdaptHealth in a research report on Wednesday, February 25th. Finally, Weiss Ratings downgraded shares of AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, February 25th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $13.00.

AdaptHealth Stock Performance

The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.81 and a current ratio of 1.02. The stock has a market cap of $1.74 billion, a P/E ratio of -23.29, a price-to-earnings-growth ratio of 1.46 and a beta of 1.50. The company’s 50 day moving average price is $10.91 and its 200-day moving average price is $10.20.

AdaptHealth (NASDAQ:AHCO) last posted its earnings results on Tuesday, February 24th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($1.10). The firm had revenue of $846.29 million during the quarter, compared to the consensus estimate of $832.51 million. AdaptHealth had a positive return on equity of 3.42% and a negative net margin of 2.18%.The business’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 EPS. Equities analysts forecast that AdaptHealth Corp. will post 0.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other AdaptHealth news, major shareholder Richard M. Cashin, Jr. bought 820,528 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was purchased at an average price of $9.73 per share, for a total transaction of $7,983,737.44. Following the completion of the transaction, the insider directly owned 14,638,708 shares of the company’s stock, valued at $142,434,628.84. This trade represents a 5.94% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 2,494,518 shares of company stock worth $24,352,291 in the last three months. 1.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AdaptHealth

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. boosted its position in AdaptHealth by 433.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company’s stock worth $26,000 after purchasing an additional 2,100 shares during the period. FNY Investment Advisers LLC bought a new position in AdaptHealth during the third quarter worth about $35,000. PNC Financial Services Group Inc. boosted its position in AdaptHealth by 22.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock worth $70,000 after purchasing an additional 1,279 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of AdaptHealth by 318.0% in the second quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock worth $90,000 after buying an additional 7,297 shares in the last quarter. Finally, Tidal Investments LLC purchased a new stake in AdaptHealth in the second quarter valued at approximately $96,000. Institutional investors own 82.67% of the company’s stock.

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.