AdaptHealth (NASDAQ:AHCO) Shares Gap Down – Should You Sell?

AdaptHealth Corp. (NASDAQ:AHCO)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $10.15, but opened at $8.94. AdaptHealth shares last traded at $9.06, with a volume of 284,794 shares.

Wall Street Analysts Forecast Growth

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

AdaptHealth Stock Down 9.6 %

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 stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -1.72, a PEG ratio of 1.63 and a beta of 1.11. The firm’s fifty day moving average is $10.80 and its 200-day moving average is $10.45.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On AdaptHealth

A number of hedge funds have recently made changes to their positions in AHCO. Principal Financial Group Inc. increased its position in AdaptHealth by 39.7% in the 3rd quarter. Principal Financial Group Inc. now owns 543,744 shares of the company’s stock valued at $6,106,000 after acquiring an additional 154,434 shares during the period. Amalgamated Bank increased its holdings in shares of AdaptHealth by 26.7% during the third quarter. Amalgamated Bank now owns 30,916 shares of the company’s stock valued at $347,000 after purchasing an additional 6,524 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of AdaptHealth by 142.9% during the third quarter. Harbor Capital Advisors Inc. now owns 449,840 shares of the company’s stock valued at $5,052,000 after purchasing an additional 264,610 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in AdaptHealth by 31.5% in the third quarter. State of Alaska Department of Revenue now owns 60,304 shares of the company’s stock worth $677,000 after purchasing an additional 14,438 shares during the period. Finally, Louisiana State Employees Retirement System grew its position in AdaptHealth by 30.0% in the 3rd quarter. Louisiana State Employees Retirement System now owns 51,100 shares of the company’s stock valued at $574,000 after buying an additional 11,800 shares in the last quarter. Institutional investors own 82.67% of the company’s stock.

About AdaptHealth

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.