Air Methods Corp Receives a New Rating from Top Analyst

By Carrie Williams

In a report released yesterday, Michael Wiederhorn from Oppenheimer reiterated a Buy rating on Air Methods Corp (NASDAQ: AIRM), with a price target of $43. The company’s shares closed last Friday at $41.85, close to its 52-week high of $43.95.

Wiederhorn commented:

“Air Methods issued its latest monthly transport report, which totaled 5,245 in February, nearly exactly in line with our estimate of 5,250. This represented a decline of 8.1% y-y or 9.0% same-base (only slightly better on a weather-adjusted basis: -7.3%). However, the y-y declines were partially due to the impact of the Leap Day, which added a day to the 2016 results.”

According to TipRanks.com, Wiederhorn is a top 25 analyst with an average return of 16.2% and a 71.4% success rate. Wiederhorn covers the Healthcare sector, focusing on stocks such as Addus Homecare Corp, Envision Healthcare, and Genesis Healthcare.

Air Methods Corp has an analyst consensus of Moderate Buy, with a price target consensus of $43.

Based on Air Methods Corp’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $297 million and quarterly net profit of $19.86 million. In comparison, last year the company earned revenue of $272 million and had a net profit of $22.54 million.

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AIRM in relation to earlier this year. Last month, David Kikumoto, a Director at AIRM bought 1,500 shares for a total of $43,995.

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Air Methods Corp. provides air medical transportation services throughout the United States and design, manufacture, and install medical aircraft interiors and other aerospace and medical transport products. It operates through three segments divisions: Air Medical Services Division, United Rotorcraft Division, and Tourism Division. The Air Medical Services Division segment provides air medical transportation services to the general population as an independent service and to hospitals or other institutions under exclusive operating agreements. Its services include aircraft operation and maintenance, medical care, dispatch and communications, and medical billing and collection. The United Rotorcraft Division segment designs, manufactures, and installs aircraft medical interiors and other aerospace and medical transport products for domestic and international customers. The Tourism Division segment provides helicopter tours and charter flights, primarily focusing on Grand Canyon and Hawaiian Island tours. The company was founded by Roy Morgan in 1980 and is headquartered in Englewood, CO.