AdaptHealth (NASDAQ:AHCO) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of AdaptHealth (NASDAQ:AHCO) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning.

Other research analysts have also issued research reports about the stock. Zacks Research lowered shares of AdaptHealth from a “hold” rating to a “strong sell” rating in a research note on Friday, September 19th. Weiss Ratings reiterated a “sell (d+)” rating on shares of AdaptHealth in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.40.

AdaptHealth Stock Performance

Shares of NASDAQ:AHCO opened at $8.70 on Friday. The firm has a market capitalization of $1.18 billion, a P/E ratio of 16.11, a P/E/G ratio of 1.07 and a beta of 1.61. AdaptHealth has a 1 year low of $7.11 and a 1 year high of $11.63. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.06 and a quick ratio of 0.82. The business’s 50-day moving average is $9.22 and its 200 day moving average is $9.05.

Insider Transactions at AdaptHealth

In other AdaptHealth news, Director David Solomon Williams III sold 8,200 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $9.73, for a total transaction of $79,786.00. Following the completion of the sale, the director directly owned 50,045 shares in the company, valued at approximately $486,937.85. This trade represents a 14.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AdaptHealth

A number of hedge funds and other institutional investors have recently made changes to their positions in AHCO. AlphaQuest LLC lifted its holdings in shares of AdaptHealth by 275.7% during the second quarter. AlphaQuest LLC now owns 3,941 shares of the company’s stock worth $37,000 after buying an additional 2,892 shares during the last quarter. Assetmark Inc. raised its position in AdaptHealth by 87.6% in the 2nd quarter. Assetmark Inc. now owns 5,529 shares of the company’s stock valued at $52,000 after purchasing an additional 2,581 shares during the last quarter. GAMMA Investing LLC increased its position in AdaptHealth by 175.2% in the 1st quarter. GAMMA Investing LLC now owns 7,473 shares of the company’s stock valued at $81,000 after acquiring an additional 4,758 shares in the last quarter. Brooklyn Investment Group lifted its holdings in AdaptHealth by 531.8% during the 1st quarter. Brooklyn Investment Group now owns 7,563 shares of the company’s stock worth $82,000 after buying an additional 6,366 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised 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 during the last quarter. 82.67% of the stock is owned by hedge funds and other institutional investors.

About AdaptHealth

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.