Traders Purchase Large Volume of Put Options on AdaptHealth (NASDAQ:AHCO)

AdaptHealth Corp. (NASDAQ:AHCO) was the recipient of unusually large options trading on Tuesday. Investors bought 4,503 put options on the stock. This is an increase of 53% compared to the typical daily volume of 2,939 put options.

Institutional Trading of AdaptHealth

A number of hedge funds and other institutional investors have recently modified their holdings of AHCO. Assetmark Inc. bought a new stake in shares of AdaptHealth in the 4th quarter worth approximately $28,000. Blue Trust Inc. increased its holdings in shares of AdaptHealth by 24.1% in the 4th quarter. Blue Trust Inc. now owns 5,746 shares of the company’s stock worth $55,000 after purchasing an additional 1,115 shares in the last quarter. Quarry LP raised its stake in shares of AdaptHealth by 4,596.9% in the third quarter. Quarry LP now owns 5,965 shares of the company’s stock worth $67,000 after purchasing an additional 5,838 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in AdaptHealth by 15.4% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,663 shares of the company’s stock valued at $121,000 after purchasing an additional 1,690 shares during the period. Finally, CIBC Asset Management Inc bought a new stake in AdaptHealth in the 3rd quarter worth approximately $122,000. 82.67% of the stock is owned by hedge funds and other institutional investors.

AdaptHealth Trading Up 22.9 %

Shares of AdaptHealth stock traded up $1.96 during midday trading on Tuesday, reaching $10.51. 4,320,770 shares of the company’s stock traded hands, compared to its average volume of 1,035,999. The company has a market cap of $1.41 billion, a PE ratio of -6.44, a price-to-earnings-growth ratio of 1.08 and a beta of 1.12. The stock has a 50 day moving average of $9.83 and a 200-day moving average of $10.19. AdaptHealth has a 12 month low of $7.25 and a 12 month high of $11.90. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.00 and a current ratio of 1.24.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Truist Financial lowered their price objective on AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, November 15th. UBS Group reduced their price target on shares of AdaptHealth from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Robert W. Baird dropped their price objective on shares of 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 reduced their price objective on shares of AdaptHealth from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Finally, Canaccord Genuity Group lowered their target price on shares of AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $12.20.

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.