AdaptHealth (NASDAQ:AHCO) Downgraded to Sell at Zacks Investment Research

AdaptHealth (NASDAQ:AHCO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, 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. “

Several other equities analysts have also weighed in on AHCO. Canaccord Genuity increased their price objective on shares of AdaptHealth from $44.00 to $50.00 and gave the company a “buy” rating in a report on Friday, May 7th. Robert W. Baird upgraded shares of AdaptHealth from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $30.00 to $36.00 in a report on Wednesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of AdaptHealth from $47.00 to $40.00 and set a “sell” rating on the stock in a report on Friday, May 7th. Two equities research analysts have rated the stock with a sell rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $43.95.

Shares of AHCO traded down $0.86 during mid-day trading on Thursday, hitting $22.60. 30,598 shares of the company traded hands, compared to its average volume of 1,062,799. AdaptHealth has a one year low of $18.06 and a one year high of $41.58. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.98 and a quick ratio of 0.83. The business has a 50-day simple moving average of $26.55. The stock has a market capitalization of $2.92 billion, a PE ratio of -44.31, a price-to-earnings-growth ratio of 0.40 and a beta of -0.07.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Wednesday, May 5th. The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.28). AdaptHealth had a negative net margin of 2.48% and a positive return on equity of 7.41%. The company had revenue of $482.10 million for the quarter, compared to the consensus estimate of $486.31 million. During the same period last year, the company earned ($0.82) earnings per share. AdaptHealth’s revenue for the quarter was up 151.9% compared to the same quarter last year. As a group, analysts anticipate that AdaptHealth will post 1.32 EPS for the current year.

In other AdaptHealth news, CEO Stephen P. Griggs bought 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 20th. The stock was acquired at an average price of $24.14 per share, with a total value of $96,560.00. Following the completion of the transaction, the chief executive officer now owns 4,000 shares in the company, valued at $96,560. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 17.30% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in AHCO. BlackRock Inc. grew its position in AdaptHealth by 154.7% in the first quarter. BlackRock Inc. now owns 5,021,637 shares of the company’s stock valued at $184,595,000 after purchasing an additional 3,049,727 shares in the last quarter. SV Health Investors LLC bought a new position in shares of AdaptHealth in the 1st quarter valued at about $107,033,000. Victory Capital Management Inc. bought a new position in shares of AdaptHealth in the 1st quarter valued at about $43,705,000. Emerald Advisers LLC grew its position in shares of AdaptHealth by 21,049.6% in the 1st quarter. Emerald Advisers LLC now owns 756,733 shares of the company’s stock valued at $27,818,000 after acquiring an additional 753,155 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of AdaptHealth by 125.0% in the 1st quarter. Geode Capital Management LLC now owns 1,322,791 shares of the company’s stock valued at $48,625,000 after acquiring an additional 734,956 shares during the period. 49.38% of the stock is owned by institutional investors and hedge funds.

About AdaptHealth

AdaptHealth Corp., together with its subsidiaries, provides home healthcare equipment, medical supplies, and home and related services in the United States. The company provides sleep therapy equipment, supplies, and related services, such as CPAP and bi-PAP services to individuals suffering from obstructive sleep apnea; home medical equipment (HME) to patients discharged from acute care and other facilities; oxygen and related chronic therapy services in the home; and other HME medical devices and supplies on behalf of chronically ill patients with diabetes care, wound care, urological, ostomy, and nutritional supply needs.

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