AdaptHealth (NASDAQ:AHCO) Shares Up 5.6%

AdaptHealth Corp. (NASDAQ:AHCO)’s share price rose 5.6% on Thursday . The company traded as high as $24.84 and last traded at $24.81. Approximately 7,935 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 726,844 shares. The stock had previously closed at $23.49.

AHCO has been the topic of a number of analyst reports. TheStreet downgraded AdaptHealth from a “c-” rating to a “d” rating in a research note on Monday, August 23rd. SVB Leerink initiated coverage on AdaptHealth in a research note on Monday, September 27th. They issued an “outperform” rating and a $30.00 price target on the stock. Zacks Investment Research downgraded AdaptHealth from a “hold” rating to a “sell” rating in a research note on Wednesday, August 25th. Truist Securities decreased their target price on AdaptHealth from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Robert W. Baird upgraded AdaptHealth from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $30.00 to $36.00 in a research report on Wednesday, July 14th. Two analysts have rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $39.40.

The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of -49.98, a price-to-earnings-growth ratio of 0.38 and a beta of -0.04. The company has a 50 day moving average of $23.97 and a 200 day moving average of $26.41. The company has a quick ratio of 0.84, a current ratio of 0.98 and a debt-to-equity ratio of 0.95.

AdaptHealth (NASDAQ:AHCO) last released its earnings results on Wednesday, August 4th. The company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.17). The business had revenue of $617.00 million during the quarter, compared to analyst estimates of $574.03 million. AdaptHealth had a net margin of 2.40% and a return on equity of 8.18%. The company’s quarterly revenue was up 165.8% compared to the same quarter last year. On average, research analysts forecast that AdaptHealth Corp. will post 1.33 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC increased its stake in AdaptHealth by 2.2% in the second quarter. Los Angeles Capital Management LLC now owns 19,985 shares of the company’s stock valued at $548,000 after purchasing an additional 430 shares during the last quarter. Harbor Investment Advisory LLC increased its stake in AdaptHealth by 28.7% during the second quarter. Harbor Investment Advisory LLC now owns 2,240 shares of the company’s stock worth $61,000 after acquiring an additional 500 shares during the last quarter. Legal & General Group Plc boosted its position in shares of AdaptHealth by 9.1% in the second quarter. Legal & General Group Plc now owns 9,583 shares of the company’s stock worth $263,000 after buying an additional 798 shares during the period. First Mercantile Trust Co. boosted its position in shares of AdaptHealth by 22.6% in the second quarter. First Mercantile Trust Co. now owns 4,888 shares of the company’s stock worth $134,000 after buying an additional 902 shares during the period. Finally, Martingale Asset Management L P boosted its position in shares of AdaptHealth by 19.1% in the first quarter. Martingale Asset Management L P now owns 9,445 shares of the company’s stock worth $348,000 after buying an additional 1,512 shares during the period. Hedge funds and other institutional investors own 50.87% of the company’s stock.

AdaptHealth Company Profile (NASDAQ:AHCO)

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.

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