AdaptHealth (NASDAQ:AHCO) Announces Earnings Results

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

AdaptHealth Trading Up 8.7 %

AdaptHealth stock traded up $0.80 during mid-day trading on Wednesday, hitting $9.98. 1,369,174 shares of the company’s stock were exchanged, compared to its average volume of 1,062,768. AdaptHealth has a fifty-two week low of $6.37 and a fifty-two week high of $11.90. The company has a quick ratio of 0.94, a current ratio of 1.15 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $1.34 billion, a P/E ratio of -1.88, a PEG ratio of 1.63 and a beta of 1.11. The company’s 50 day simple moving average is $10.76 and its 200-day simple moving average is $10.44.

Wall Street Analysts Forecast Growth

AHCO has been the subject of several analyst reports. Canaccord Genuity Group lowered their price target on shares of AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday. UBS Group lowered their target price on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday. Robert W. Baird cut their price target on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of AdaptHealth in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, AdaptHealth currently has a consensus rating of “Moderate Buy” and an average target price of $11.36.

Insider Buying and Selling at AdaptHealth

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

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.