AdaptHealth (NASDAQ:AHCO) Shares Up 5.3% – What’s Next?

AdaptHealth Corp. (NASDAQ:AHCO)’s share price rose 5.3% during mid-day trading on Tuesday . The stock traded as high as $11.03 and last traded at $11.00. Approximately 105,022 shares were traded during trading, a decline of 90% from the average daily volume of 1,064,513 shares. The stock had previously closed at $10.45.

Analyst Upgrades and Downgrades

AHCO has been the topic of a number of analyst reports. Canaccord Genuity Group cut their price objective on shares of AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Robert W. Baird lowered their target price on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 target price on shares of AdaptHealth in a research note on Monday, August 12th. Finally, UBS Group lowered their target price on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, AdaptHealth currently has a consensus rating of “Moderate Buy” and an average price target of $12.17.

AdaptHealth Stock Performance

The company has a quick ratio of 0.94, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $1.44 billion, a PE ratio of -6.84, a PEG ratio of 1.43 and a beta of 1.11. The stock’s fifty day simple moving average is $10.69 and its 200-day simple moving average is $10.46.

AdaptHealth (NASDAQ:AHCO) last issued its earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The business had revenue of $805.90 million during the quarter, compared to analysts’ expectations of $809.32 million. AdaptHealth had a negative net margin of 6.57% and a positive return on equity of 9.62%. The business’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 EPS. On average, research analysts predict that AdaptHealth Corp. will post 0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On AdaptHealth

Institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its holdings in shares of AdaptHealth by 80.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 27,949 shares of the company’s stock valued at $322,000 after acquiring an additional 12,430 shares during the period. Texas Permanent School Fund Corp increased its stake in AdaptHealth by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 71,201 shares of the company’s stock worth $820,000 after acquiring an additional 979 shares during the last quarter. SG Americas Securities LLC acquired a new stake in AdaptHealth during the first quarter worth $129,000. Sei Investments Co. acquired a new position in AdaptHealth during the 1st quarter worth $2,365,000. Finally, Russell Investments Group Ltd. acquired a new position in AdaptHealth during the 1st quarter worth $2,242,000. Hedge funds and other 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.