AdaptHealth (AHCO) Gets a Buy from SVB Securities

SVB Securities analyst Whit Mayo reiterated a Buy rating on AdaptHealth (AHCOResearch Report) on September 19 and set a price target of $29.00. The company’s shares closed yesterday at $21.71.

Mayo covers the Healthcare sector, focusing on stocks such as Universal Health, Tenet Healthcare, and Acadia Healthcare. According to TipRanks, Mayo has an average return of 8.2% and a 55.70% success rate on recommended stocks.

AdaptHealth has an analyst consensus of Strong Buy, with a price target consensus of $29.13, which is a 34.18% upside from current levels. In a report released yesterday, Deutsche Bank also maintained a Buy rating on the stock with a $28.00 price target.

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Based on AdaptHealth’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $727.61 million and a net profit of $14.03 million. In comparison, last year the company earned a revenue of $617.02 million and had a net profit of $79.11 million

Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AHCO in relation to earlier this year.

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AdaptHealth Corp. provides medical products for both rental and sale. It focuses on respiratory and/or mobility equipment, including CPAP sleep equipment, oxygen equipment, wheelchairs, walkers, and hospital beds. The company was founded in 2012 and is headquartered in Plymouth Meeting, PA.

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