Analysts Anticipate AdaptHealth Corp. (NASDAQ:AHCO) Will Announce Quarterly Sales of $692.73 Million

Analysts expect AdaptHealth Corp. (NASDAQ:AHCO) to announce $692.73 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for AdaptHealth’s earnings, with the highest sales estimate coming in at $701.71 million and the lowest estimate coming in at $682.70 million. AdaptHealth posted sales of $348.43 million during the same quarter last year, which suggests a positive year over year growth rate of 98.8%. The business is expected to issue its next quarterly earnings report on Thursday, March 3rd.

On average, analysts expect that AdaptHealth will report full-year sales of $2.45 billion for the current financial year, with estimates ranging from $2.44 billion to $2.45 billion. For the next year, analysts anticipate that the business will report sales of $2.85 billion, with estimates ranging from $2.76 billion to $2.90 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow AdaptHealth.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Thursday, November 4th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.08). The firm had revenue of $653.30 million during the quarter, compared to analysts’ expectations of $638.74 million. AdaptHealth had a return on equity of 9.73% and a net margin of 4.86%. The business’s quarterly revenue was up 129.7% on a year-over-year basis. During the same quarter last year, the business earned $0.05 earnings per share.

AHCO has been the subject of a number of recent research reports. SVB Leerink boosted their price objective on shares of AdaptHealth from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, November 5th. Zacks Investment Research upgraded shares of AdaptHealth from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Wednesday. Truist Securities cut their price target on shares of AdaptHealth from $40.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, October 13th. TheStreet downgraded shares of AdaptHealth from a “c-” rating to a “d” rating in a report on Wednesday, December 1st. Finally, Truist lowered their price objective on shares of AdaptHealth from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, October 13th. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $36.63.

Shares of NASDAQ:AHCO traded down $1.31 during trading hours on Friday, hitting $20.49. 734,340 shares of the company’s stock traded hands, compared to its average volume of 682,344. AdaptHealth has a 1 year low of $18.24 and a 1 year high of $41.58. The business has a fifty day moving average price of $22.53 and a 200-day moving average price of $23.82. The firm has a market capitalization of $2.71 billion, a P/E ratio of -89.08, a price-to-earnings-growth ratio of 0.72 and a beta of 0.15. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.64 and a quick ratio of 1.44.

In related news, CFO Jason A. Clemens bought 1,300 shares of the stock in a transaction on Wednesday, December 1st. The shares were purchased at an average price of $19.77 per share, with a total value of $25,701.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Stephen P. Griggs acquired 50,000 shares of AdaptHealth stock in a transaction dated Tuesday, November 30th. The shares were acquired at an average price of $19.42 per share, with a total value of $971,000.00. The disclosure for this purchase can be found here. Corporate insiders own 17.30% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of AHCO. Arizona State Retirement System acquired a new stake in shares of AdaptHealth in the second quarter worth $428,000. Russell Investments Group Ltd. raised its holdings in AdaptHealth by 5,197.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 145,533 shares of the company’s stock worth $3,988,000 after purchasing an additional 142,786 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in AdaptHealth during the 2nd quarter worth about $204,000. Los Angeles Capital Management LLC raised its holdings in AdaptHealth by 2.2% during the 2nd quarter. Los Angeles Capital Management LLC now owns 19,985 shares of the company’s stock worth $548,000 after purchasing an additional 430 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of AdaptHealth by 38.4% in the 2nd quarter. Rhumbline Advisers now owns 104,395 shares of the company’s stock valued at $2,861,000 after acquiring an additional 28,938 shares during the last quarter. 53.49% of the stock is currently owned by hedge funds and other institutional investors.

AdaptHealth Company Profile

AdaptHealth Corp. engages in the provision of home healthcare equipment, supplies and related services. It focuses on sleep therapy equipment to individuals suffering from obstructive sleep apnea (OSA), home medical equipment to patients discharged from acute care and other facilities, oxygen and related chronic therapy services in the home, and HME medical devices and supplies on behalf of chronically ill patients with diabetes care, wound care, urological, ostomy, and nutritional supply needs.

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Earnings History and Estimates for AdaptHealth (NASDAQ:AHCO)

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