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

by · The Markets Daily

AdaptHealth Corp. (NASDAQ:AHCO – Get Free Report)’s stock price rose 5.9% during trading on Tuesday . The stock traded as high as $10.64 and last traded at $10.61. Approximately 509,766 shares traded 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.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada restated an “outperform” rating and issued 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 issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $10.70.

Read Our Latest Stock Analysis on AHCO

AdaptHealth Stock Down 0.3 %

The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -2.06, a P/E/G ratio of 1.60 and a beta of 1.10. The business’s 50-day moving average is $10.65 and its two-hundred day moving average is $10.40. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.15.

AdaptHealth (NASDAQ:AHCO – Get Free Report) last announced its quarterly 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). The firm had revenue of $805.98 million during the quarter, compared to analyst estimates of $802.62 million. AdaptHealth had a negative net margin of 21.20% and a positive return on equity of 9.58%. AdaptHealth’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm earned $0.16 EPS. On average, equities analysts anticipate that AdaptHealth Corp. will post 0.87 earnings per share for the current year.

Insider Transactions at AdaptHealth

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 transaction of $281,000.00. Following the sale, the chief operating officer now directly owns 212,611 shares in the company, valued at $2,389,747.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, COO Shaw Rietkerk sold 25,000 shares of AdaptHealth stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $11.24, for a total value of $281,000.00. Following the sale, the chief operating officer now 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 position. 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 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 completion of 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 position. The disclosure for this sale can be found here. 4.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AHCO. GAMMA Investing LLC raised its stake 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 purchasing an additional 1,683 shares in the last quarter. Covestor Ltd lifted its stake in AdaptHealth by 279.6% in the first 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 bought a new position in shares of AdaptHealth in the 2nd quarter valued at about $58,000. Blue Trust Inc. bought a new stake in shares of AdaptHealth in the 2nd quarter valued at about $85,000. Finally, Innealta Capital LLC acquired a new stake in AdaptHealth in the 2nd quarter valued at about $101,000. Institutional investors own 82.67% of the company’s stock.

About AdaptHealth

(Get Free Report)

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.

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