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

AdaptHealth (NASDAQ:AHCO) issued its quarterly earnings results on Tuesday. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02), Briefing.com reports. AdaptHealth had a positive return on equity of 9.58% and a negative net margin of 21.20%. The company had revenue of $805.90 million during the quarter, compared to analysts’ expectations of $809.32 million. During the same period last year, the firm posted $0.19 earnings per share. AdaptHealth’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 NASDAQ AHCO 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. AdaptHealth has a fifty-two week low of $6.37 and a fifty-two week high of $11.90. The stock has a market cap of $1.37 billion, a PE ratio of -1.95, a price-to-earnings-growth ratio of 1.63 and a beta of 1.11. The stock has a fifty day moving average of $10.74 and a 200-day moving average of $10.44.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, COO Shaw Rietkerk sold 25,000 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.24, for a total transaction of $281,000.00. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, 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 sale, the director now owns 36,899 shares in the company, valued at approximately $415,482.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Shaw Rietkerk sold 25,000 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now owns 212,611 shares in the company, valued at $2,389,747.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.43% of the stock is owned by corporate 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.