AdaptHealth (NASDAQ:AHCO) Stock Jumps 4.8% – Should You Buy?

AdaptHealth Corp. (NASDAQ:AHCO)’s stock price rose 4.8% during trading on Wednesday. The company traded as high as $6.03 and last traded at $6.0450. Approximately 1,071,789 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 1,868,174 shares. The stock had previously closed at $5.77.

Analyst Upgrades and Downgrades

AHCO has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of AdaptHealth from a “hold” rating to a “sell” rating in a research note on Sunday, August 16th. Weiss Ratings reissued a “sell (d)” rating on shares of AdaptHealth in a research report on Wednesday, August 19th. UBS Group cut their target price on AdaptHealth from $14.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Truist Financial dropped their price target on AdaptHealth from $14.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada reduced their price target 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. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, AdaptHealth currently has an average rating of “Moderate Buy” and an average price target of $10.14.

AdaptHealth Trading Down 1.2%

The company has a quick ratio of 0.98, a current ratio of 1.12 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $817.38 million, a P/E ratio of -3.51 and a beta of 1.42. The firm’s 50-day moving average price is $6.02 and its 200 day moving average price is $9.24.

AdaptHealth (NASDAQ:AHCO) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of $0.17 by ($1.16). The company had revenue of $740.31 million during the quarter, compared to analysts’ expectations of $846.77 million. AdaptHealth had a positive return on equity of 3.36% and a negative net margin of 7.07%.The business’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share.

Insider Transactions at AdaptHealth

In other news, Director Kenneth Samet bought 23,500 shares of AdaptHealth stock in a transaction dated Thursday, August 6th. The stock was purchased at an average price of $6.38 per share, for a total transaction of $149,930.00. Following the purchase, the director directly owned 48,569 shares in the company, valued at $309,870.22. The trade was a 93.74% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AdaptHealth

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Corient Private Wealth LP increased its position in shares of AdaptHealth by 259.0% during the 2nd quarter. Corient Private Wealth LP now owns 224,099 shares of the company’s stock valued at $2,335,000 after purchasing an additional 161,677 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in AdaptHealth during the second quarter valued at about $966,000. Readystate Asset Management LP grew its position in AdaptHealth by 37.5% during the second quarter. Readystate Asset Management LP now owns 278,882 shares of the company’s stock valued at $2,906,000 after buying an additional 76,009 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in AdaptHealth during the second quarter worth about $56,000. Finally, Paradigm Capital Management Inc. NY bought a new stake in AdaptHealth in the second quarter worth about $1,263,000. Hedge funds and other institutional investors own 82.67% of the company’s stock.

About AdaptHealth

AdaptHealth Corp. is a provider of home healthcare equipment, medical supplies and related services in the United States. The company helps patients manage medical conditions outside traditional healthcare settings by delivering equipment to their homes and providing education, setup and ongoing support.

Its offerings include respiratory equipment such as oxygen systems and ventilators, sleep therapy products including continuous positive airway pressure (CPAP) devices, diabetes supplies, mobility and assistive equipment, and other durable medical equipment.