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

AdaptHealth (NASDAQ:AHCOGet Free Report) issued 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. AdaptHealth had a positive return on equity of 9.58% and a negative net margin of 21.20%. The business had revenue of $805.90 million during the quarter, compared to analysts’ expectations of $809.32 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue was up .2% on a year-over-year basis. AdaptHealth updated its FY 2024 guidance to EPS.

AdaptHealth Stock Down 3.4 %

Shares of NASDAQ AHCO opened at $9.83 on Friday. AdaptHealth has a 12-month low of $6.37 and a 12-month high of $11.90. The company has a current ratio of 1.15, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38. The stock has a market cap of $1.32 billion, a P/E ratio of -1.88, a PEG ratio of 1.58 and a beta of 1.11. The business’s fifty day simple moving average is $10.74 and its 200-day simple moving average is $10.44.

Analysts Set New Price Targets

A number of research firms have commented on AHCO. Canaccord Genuity Group decreased their price target on AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday. UBS Group decreased their price target on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $13.00 price target on shares of AdaptHealth in a research note on Monday, August 12th. Finally, Robert W. Baird decreased 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. One investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.36.

Read Our Latest Stock Analysis on AHCO

Insider Buying and Selling at AdaptHealth

In other AdaptHealth news, COO Shaw Rietkerk sold 25,000 shares of the firm’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 in the company, valued at $2,389,747.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other AdaptHealth news, COO Shaw Rietkerk sold 25,000 shares of the firm’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 in the company, valued at $2,389,747.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Solomon Williams III sold 4,000 shares of the firm’s stock in a transaction on 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 owns 36,899 shares in the company, valued at approximately $415,482.74. 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 insiders.

About AdaptHealth

(Get Free Report)

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.

Further Reading

Earnings History for AdaptHealth (NASDAQ:AHCO)

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