AdaptHealth (NASDAQ:AHCO) Posts Quarterly Earnings Results

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

AdaptHealth Price Performance

Shares of AdaptHealth stock traded up $0.68 during trading on Wednesday, hitting $9.86. 1,244,612 shares of the company were exchanged, compared to its average volume of 1,062,189. The firm has a 50 day moving average price of $10.76 and a 200 day moving average price of $10.44. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -1.88, a P/E/G 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. AdaptHealth has a fifty-two week low of $6.37 and a fifty-two week high of $11.90.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, COO Shaw Rietkerk sold 25,000 shares of AdaptHealth stock in a transaction dated 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 sale, the chief operating officer now directly owns 212,611 shares in the company, valued at $2,389,747.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other AdaptHealth news, COO Shaw Rietkerk sold 25,000 shares of AdaptHealth stock in a transaction 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 transaction, the chief operating officer now owns 212,611 shares in the company, valued at $2,389,747.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David Solomon Williams III sold 4,000 shares of the business’s stock in a transaction 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 transaction, 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 currently owned by company insiders.

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.