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

AdaptHealth (NASDAQ:AHCO) issued its 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 during 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 for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the business posted $0.19 earnings per share. AdaptHealth updated its FY 2024 guidance to EPS.

AdaptHealth Stock Performance

NASDAQ:AHCO traded up $0.80 during mid-day trading on Wednesday, reaching $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 one year low of $6.37 and a one year high of $11.90. 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 business’s fifty day simple moving average is $10.76 and its two-hundred day simple moving average is $10.44. The firm has a market capitalization of $1.34 billion, a PE ratio of -1.88, a price-to-earnings-growth ratio of 1.63 and a beta of 1.11.

Insider Buying and Selling at AdaptHealth

In other 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 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 approximately $2,389,747.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director David Solomon Williams III sold 4,000 shares of the company’s 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 transaction, the director now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Shaw Rietkerk sold 25,000 shares of the firm’s 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 sale, the chief operating officer now directly owns 212,611 shares in the company, valued at approximately $2,389,747.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AHCO. Canaccord Genuity Group cut their price objective on AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday. Robert W. Baird cut their price target on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Wednesday. UBS Group decreased their price objective on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price objective on shares of AdaptHealth in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.