AdaptHealth (NASDAQ:AHCO) Issues Earnings Results

AdaptHealth (NASDAQ:AHCO) released its quarterly earnings results on Tuesday. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.02), Briefing.com reports. AdaptHealth had a negative net margin of 21.20% and a positive return on equity of 9.58%. The firm had revenue of $805.90 million for the quarter, compared to analysts’ expectations of $809.32 million. During the same period in the previous year, the company posted $0.19 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. AdaptHealth updated its FY 2024 guidance to EPS.

AdaptHealth Price Performance

Shares of AdaptHealth stock traded up $0.68 on Wednesday, reaching $9.86. The company’s stock had a trading volume of 1,244,612 shares, compared to its average volume of 1,062,189. The stock has a 50-day moving average price of $10.76 and a 200-day moving average price of $10.44. AdaptHealth has a 52-week low of $6.37 and a 52-week high of $11.90. The company has a market capitalization of $1.33 billion, a P/E ratio of -1.88, a PEG ratio of 1.63 and a beta of 1.11. The company has a quick ratio of 0.94, a current ratio of 1.15 and a debt-to-equity ratio of 1.38.

Insider Activity at AdaptHealth

In other AdaptHealth news, COO Shaw Rietkerk sold 25,000 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.24, for a total value of $281,000.00. Following the completion of the sale, the chief operating officer now directly owns 212,611 shares in the company, valued at $2,389,747.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Shaw Rietkerk sold 25,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.24, for a total value of $281,000.00. Following the completion of the sale, the chief operating officer now owns 212,611 shares of the company’s stock, valued at $2,389,747.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David Solomon Williams III sold 4,000 shares of AdaptHealth stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $11.26, for a total value of $45,040.00. Following the completion of the sale, the director now owns 36,899 shares in the company, valued at $415,482.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.43% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on AHCO. Canaccord Genuity Group cut their price target on shares of AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 target price on shares of AdaptHealth in a research report on Monday, August 12th. Robert W. Baird lowered their price target on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, UBS Group dropped their price target on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, AdaptHealth has a consensus rating of “Moderate Buy” and an average target price of $11.36.

AdaptHealth Company Profile

AdaptHealth Corp., together with its subsidiaries, sells home medical equipment (HME), 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; medical devices and supplies, including continuous glucose monitors and insulin pumps for the treatment of diabetes; HME to patients discharged from acute care and other facilities; oxygen and related chronic therapy services in the home; and other HME devices and supplies on behalf of chronically ill patients with wound care, urological, incontinence, ostomy, and nutritional supply needs.