Brokerages Set AdaptHealth Corp. (NASDAQ:AHCO) Price Target at $14.29

Shares of AdaptHealth Corp. (NASDAQ:AHCO) have received an average rating of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $14.2857.

A number of brokerages have issued reports on AHCO. Robert W. Baird set a $18.00 price objective on AdaptHealth in a research note on Wednesday, May 6th. Royal Bank Of Canada upped their price objective on AdaptHealth from $13.00 to $15.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Leerink Partners reduced their price objective on AdaptHealth from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th. Jefferies Financial Group restated a “hold” rating and issued a $11.00 price objective on shares of AdaptHealth in a research note on Monday, April 20th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of AdaptHealth in a research report on Friday, May 22nd.

AdaptHealth Trading Up 1.7%

Shares of AdaptHealth stock opened at $9.81 on Friday. The stock has a fifty day simple moving average of $11.44 and a 200 day simple moving average of $10.57. AdaptHealth has a 12-month low of $8.06 and a 12-month high of $13.43. The company has a market capitalization of $1.33 billion, a P/E ratio of -15.82, a price-to-earnings-growth ratio of 0.49 and a beta of 1.47. The company has a current ratio of 0.92, a quick ratio of 0.71 and a debt-to-equity ratio of 1.21.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.13). AdaptHealth had a positive return on equity of 2.76% and a negative net margin of 2.42%.The company had revenue of $819.80 million for the quarter, compared to the consensus estimate of $796.63 million. During the same quarter last year, the company posted ($0.05) EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that AdaptHealth will post 0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Russell E. Schuster III sold 11,275 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $10.06, for a total transaction of $113,426.50. Following the transaction, the insider owned 136,538 shares of the company’s stock, valued at $1,373,572.28. This represents a 7.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Richard M. Cashin, Jr. acquired 689,336 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average cost of $9.73 per share, for a total transaction of $6,707,239.28. Following the acquisition, the insider directly owned 15,864,871 shares in the company, valued at $154,365,194.83. This represents a 4.54% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 1,137,163 shares of company stock worth $11,145,227 in the last ninety days. Insiders own 1.95% of the company’s stock.

Institutional Trading of AdaptHealth

Institutional investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. lifted its holdings in AdaptHealth by 433.0% during the 4th 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 in the last quarter. FNY Investment Advisers LLC purchased a new stake in AdaptHealth during the 3rd quarter worth about $35,000. Assetmark Inc. lifted its holdings in AdaptHealth by 54.8% during the 1st quarter. Assetmark Inc. now owns 6,952 shares of the company’s stock worth $83,000 after purchasing an additional 2,460 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in AdaptHealth by 22.3% during the 4th 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 in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in AdaptHealth by 318.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock worth $90,000 after purchasing an additional 7,297 shares in the last quarter. Hedge funds and other 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.