AdaptHealth (NASDAQ:AHCO) Posts Earnings Results, Misses Estimates By $0.02 EPS

AdaptHealth (NASDAQ:AHCO) posted its quarterly earnings data 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 company had revenue of $805.90 million for 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 business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 EPS. AdaptHealth updated its FY 2024 guidance to EPS.

AdaptHealth Price Performance

Shares of AHCO stock opened at $10.18 on Thursday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.15. The firm has a market cap of $1.37 billion, a P/E ratio of -1.95, a P/E/G ratio of 1.63 and a beta of 1.11. The business’s 50 day moving average price is $10.74 and its 200-day moving average price is $10.44. AdaptHealth has a fifty-two week low of $6.37 and a fifty-two week high of $11.90.

Insider Buying and Selling

In other news, Director David Solomon Williams III sold 4,000 shares of the firm’s stock in a transaction dated 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 directly owns 36,899 shares of the company’s stock, valued at approximately $415,482.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related 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 sale, the chief operating officer now directly owns 212,611 shares of the company’s stock, valued at $2,389,747.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Solomon Williams III sold 4,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $11.26, for a total value of $45,040.00. Following the completion of the transaction, the director now owns 36,899 shares of the company’s stock, valued at approximately $415,482.74. This trade 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 insiders.

Analysts Set New Price Targets

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

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.