AdaptHealth (NASDAQ:AHCO) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen downgraded shares of AdaptHealth (NASDAQ:AHCO) from a hold rating to a sell rating in a research report released on Sunday morning.

Other equities research analysts also recently issued research reports about the company. Robert W. Baird set a $10.00 target price on AdaptHealth in a report on Wednesday, August 5th. Jefferies Financial Group upgraded shares of AdaptHealth from a “hold” rating to a “buy” rating and upped their price target for the company from $11.00 to $13.00 in a research note on Tuesday, July 21st. Royal Bank Of Canada lowered their price target on shares of AdaptHealth from $15.00 to $8.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Truist Financial dropped their price objective on shares of AdaptHealth from $14.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of AdaptHealth in a report on Friday, May 22nd. Seven investment 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.29.

AdaptHealth Price Performance

AdaptHealth stock opened at $5.81 on Friday. The company has a market capitalization of $792.14 million, a price-to-earnings ratio of -3.40, a PEG ratio of 0.30 and a beta of 1.47. The company has a current ratio of 1.12, a quick ratio of 0.98 and a debt-to-equity ratio of 1.37. AdaptHealth has a 12 month low of $5.21 and a 12 month high of $13.43. The stock’s 50 day moving average is $9.55 and its 200-day moving average is $10.39.

Insider Transactions at AdaptHealth

In other AdaptHealth news, insider Russell E. Schuster III sold 11,275 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $10.06, for a total transaction of $113,426.50. Following the sale, the insider directly owned 136,538 shares in the company, valued at $1,373,572.28. This represents a 7.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kenneth A. Samet bought 23,500 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was purchased at an average cost of $6.38 per share, for a total transaction of $149,930.00. Following the completion of the acquisition, the director owned 48,569 shares in the company, valued at approximately $309,870.22. This trade represents a 93.74% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.95% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Kennedy Capital Management LLC lifted its stake in shares of AdaptHealth by 15.2% in the 4th quarter. Kennedy Capital Management LLC now owns 2,408,038 shares of the company’s stock valued at $23,984,000 after purchasing an additional 317,900 shares during the period. Reinhart Partners LLC. grew its stake in AdaptHealth by 10.6% during the fourth quarter. Reinhart Partners LLC. now owns 8,100,785 shares of the company’s stock worth $80,684,000 after purchasing an additional 773,727 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in AdaptHealth by 87.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 847,085 shares of the company’s stock worth $10,080,000 after purchasing an additional 395,668 shares in the last quarter. Principal Financial Group Inc. increased its holdings in AdaptHealth by 25.1% in the first quarter. Principal Financial Group Inc. now owns 2,784,316 shares of the company’s stock worth $33,133,000 after purchasing an additional 558,357 shares in the last quarter. Finally, Hudson Edge Investment Partners Inc. acquired a new position in AdaptHealth in the fourth quarter valued at approximately $614,000. 82.67% of the stock is owned by institutional investors.

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.