AdaptHealth Corp. (AHCO Quick QuoteAHCO - Free Report) shares soared 5.8% in the last trading session to close at $18.90. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 26.9% loss over the past four weeks.

AdaptHealth scored a strong price increase driven by the optimism surrounding the company’s aggressive move on the M&A front as management takes advantage of consolidation opportunities and boosts growth, while also driving positive earnings surprises. Market is also upbeat the company’s 8% organic growth guidance for 2022 backed by strength in diabetes and sleep products.

This company is expected to post quarterly earnings of $0.41 per share in its upcoming report, which represents a year-over-year change of +64%. Revenues are expected to be $692.73 million, up 98.8% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For AdaptHealth Corp., the consensus EPS estimate for the quarter has been revised 5.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on AHCO going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>