Wall Street analysts’ outlook for AdaptHealth Corp. (AHCO)

AdaptHealth Corp. (NASDAQ: AHCO) stock fell -2.15% on Wednesday to $10.94 against a previous-day closing price of $11.18. With 0.74 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.53 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $11.10 whereas the lowest price it dropped to was $10.79. The 52-week range on AHCO shows that it touched its highest point at $27.48 and its lowest point at $10.00 during that stretch. It currently has a 1-year price target of $16.23. Beta for the stock currently stands at 0.64.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AHCO was down-trending over the past week, with a drop of -2.50%, but this was down by -4.79% over a month. Three-month performance dropped to -51.87% while six-month performance fell -47.93%. The stock lost -37.77% in the past year, while it has lost -43.08% so far this year. A look at the trailing 12-month EPS for AHCO yields 0.29 with Next year EPS estimates of 0.90. For the next quarter, that number is 0.10. This implies an EPS growth rate of -57.20% for this year and 17.39% for next year.

Float and Shares Shorts:

At present, 134.53 million AHCO shares are outstanding with a float of 88.31 million shares on hand for trading. On Apr 27, 2023, short shares totaled 12.78 million, which was 9.43% higher than short shares on Mar 30, 2023. In addition to Mr. Stephen P. Griggs as the firm’s CEO & Director, Mr. Joshua Parnes serves as its Pres & Director.

Institutional Ownership:

Through their ownership of 85.12% of AHCO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 57.29% of AHCO, in contrast to 36.30% held by mutual funds. Shares owned by individuals account for 30.77%. As the largest shareholder in AHCO with 8.15% of the stake, BlackRock Fund Advisors holds 11,042,453 shares worth 11,042,453. A second-largest stockholder of AHCO, Deerfield Management Co. LP, holds 10,594,914 shares, controlling over 7.82% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in AHCO, holding 8,152,206 shares or 6.02% stake. With a 4.10% stake in AHCO, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 5,558,058 shares are owned by the mutual fund manager. The Fidelity Value Fund, which owns about 2.14% of AHCO stock, is the second-largest Mutual Fund holder. It holds 2,900,296 shares valued at 34.46 million. Vanguard Total Stock Market ETF holds 1.73% of the stake in AHCO, owning 2,337,979 shares worth 27.78 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, AHCO reported revenue of $727.61M and operating income of $59.18M. The EBITDA in the recently reported quarter was $137.39M and diluted EPS was $0.09.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AHCO since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With AHCO analysts setting a high price target of $27.00 and a low target of $11.00, the average target price over the next 12 months is $16.23. Based on these targets, AHCO could surge 146.8% to reach the target high and rise by 0.55% to reach the target low. Reaching the average price target will result in a growth of 48.35% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded AHCO stock several times over the past three months with 7 Buys and 5 Sells. In these transactions, 272,543 shares were bought while 3,108 shares were sold. The number of buy transactions has increased to 24 while that of sell transactions has risen to 56 over the past year. The total number of shares bought during that period was 917,610 while 4,628,951 shares were sold.

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