AdaptHealth Corp. (NASDAQ:AHCO) Short Interest Up 14.8% in September

AdaptHealth Corp. (NASDAQ:AHCO) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totalling 10,290,000 shares, a growth of 14.8% from the September 15th total of 8,960,000 shares. Currently, 12.4% of the shares of the stock are sold short. Based on an average daily volume of 1,120,000 shares, the days-to-cover ratio is presently 9.2 days.

Insider Transactions at AdaptHealth

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in shares of AdaptHealth by 197.1% during the 1st quarter. GAMMA Investing LLC now owns 2,537 shares of the company’s stock worth $29,000 after acquiring an additional 1,683 shares during the period. Covestor Ltd grew its stake in AdaptHealth by 279.6% in the first quarter. Covestor Ltd now owns 3,109 shares of the company’s stock worth $36,000 after purchasing an additional 2,290 shares during the period. Canada Pension Plan Investment Board bought a new position in AdaptHealth in the second quarter worth $58,000. Blue Trust Inc. purchased a new position in AdaptHealth during the second quarter valued at $85,000. Finally, Innealta Capital LLC bought a new stake in shares of AdaptHealth during the 2nd quarter valued at $101,000. 82.67% of the stock is owned by hedge funds and other institutional investors.

AdaptHealth Stock Performance

AdaptHealth stock opened at $10.09 on Monday. AdaptHealth has a 1-year low of $6.37 and a 1-year high of $11.90. The firm has a market cap of $1.34 billion, a P/E ratio of -1.91, a P/E/G ratio of 1.60 and a beta of 1.10. The company has a current ratio of 1.15, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38. The firm has a 50-day moving average of $10.57 and a 200-day moving average of $10.41.

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

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price target on shares of AdaptHealth in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.70.

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.