AdaptHealth (NASDAQ:AHCO) Shares Up 5.9% – Here’s Why

AdaptHealth Corp. (NASDAQ:AHCO) rose 5.9% during mid-day trading on Tuesday . The company traded as high as $10.64 and last traded at $10.61. Approximately 509,766 shares changed hands during trading, a decline of 53% from the average daily volume of 1,080,406 shares. The stock had previously closed at $10.02.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price objective on shares of AdaptHealth in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.70.

AdaptHealth Price Performance

The firm has a market capitalization of $1.41 billion, a PE ratio of -2.01, a PEG ratio of 1.60 and a beta of 1.10. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.15 and a quick ratio of 0.94. The firm has a 50-day simple moving average of $10.55 and a 200-day simple moving average of $10.40.

AdaptHealth (NASDAQ:AHCO) last announced its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). AdaptHealth had a negative net margin of 21.20% and a positive return on equity of 9.58%. The business had revenue of $805.98 million for the quarter, compared to the consensus estimate of $802.62 million. During the same quarter last year, the firm posted $0.16 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, equities analysts forecast that AdaptHealth Corp. will post 0.87 earnings per share for the current year.

Insider Buying and Selling

In other AdaptHealth news, COO Shaw Rietkerk sold 25,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.24, for a total transaction of $281,000.00. Following the completion of the sale, the chief operating officer now owns 212,611 shares of the company’s stock, valued at approximately $2,389,747.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO Shaw Rietkerk sold 25,000 shares of AdaptHealth stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.24, for a total transaction of $281,000.00. Following the transaction, the chief operating officer now owns 212,611 shares in the company, valued at approximately $2,389,747.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Solomon Williams III sold 4,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $11.26, for a total value of $45,040.00. Following the completion of the sale, the director now owns 36,899 shares of the company’s stock, valued at $415,482.74. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in AdaptHealth by 197.1% during the first quarter. GAMMA Investing LLC now owns 2,537 shares of the company’s stock valued at $29,000 after buying an additional 1,683 shares during the last quarter. Covestor Ltd boosted its position in shares of AdaptHealth by 279.6% during the 1st quarter. Covestor Ltd now owns 3,109 shares of the company’s stock valued at $36,000 after acquiring an additional 2,290 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of AdaptHealth in the second quarter valued at $58,000. Blue Trust Inc. bought a new stake in AdaptHealth in the second quarter worth $85,000. Finally, Innealta Capital LLC purchased a new stake in AdaptHealth during the second quarter valued at $101,000. Hedge funds and other institutional investors own 82.67% of the company’s stock.

AdaptHealth Company Profile

AdaptHealth Corp., together with its subsidiaries, sells home medical equipment (HME), medical supplies, and home and related services in the United States. The company provides sleep therapy equipment, supplies, and related services, such as CPAP and bi-PAP services to individuals suffering from obstructive sleep apnea; medical devices and supplies, including continuous glucose monitors and insulin pumps for the treatment of diabetes; HME to patients discharged from acute care and other facilities; oxygen and related chronic therapy services in the home; and other HME devices and supplies on behalf of chronically ill patients with wound care, urological, incontinence, ostomy, and nutritional supply needs.