These Analysts Lower Their Forecasts On AdaptHealth Following Weak Sales

AdaptHealth Corp. AHCO reported worse-than-expected third-quarter sales and revised its FY24 net revenue guidance on Tuesday.

AdaptHealth reported quarterly sales of $805.86 million which missed the analyst consensus estimate of $809.30 million.

Suzanne Foster, Chief Executive Officer of AdaptHealth, stated, “I continue to be optimistic about the road ahead. We have identified growth opportunities, we are assembling a high performing team and investing in areas that allow us to serve even more patients in their homes.”

AdaptHealth revised its FY24 net revenue outlook from $3.255 billion – $3.315 billion  to $3.220 billion – $3.260 billion.

AdaptHealth shares gained 8.4% to trade at $9.95 on Wednesday.

These analysts made changes to their price targets on AdaptHealth following earnings announcement.

• Baird analyst Eric Coldwell maintained AdaptHealth with an Outperform and lowered the price target from $16 to $14.
• Canaccord Genuity analyst Richard Close maintained the stock with a Buy and cut the price target from $14 to $13.
• UBS analyst Whit Mayo maintained AdaptHealth with a Buy and lowered the price target from $13 to $12.

Considering buying AHCO stock? Here’s what analysts think:

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