Baird analyst Eric Coldwell lowered the firm’s price target on AdaptHealth to $23 from $31 and keeps an Outperform rating on the shares. The analyst said incremental inflationary pressures, gross-to-net revenue adjustments, and variable compensation account for 4Q22 miss. Additionally, growth moderation in some categories, mainly diabetes and respiratory, contributes to incremental 2023 top-line softness.
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Read More on AHCO:
- AdaptHealth Crashes after Q4 Earnings Miss
- AdaptHealth cuts FY23 revenue view to $3.16B-$3.24B from $3.21B-$3.29B
- AdaptHealth reports Q4 EPS (2c), consensus 28c
- AdaptHealth guides initial FY23 revenue of $3.21B-$3.29B, consensus $3.26B
- AdaptHealth sees FY22 revenue near midpoint of prior guidance of $2.95B-$3.01B