Richard Cashin, Jr. Purchases 689,336 Shares of AdaptHealth (NASDAQ:AHCO) Stock
by Sarita Garza · The Markets DailyAdaptHealth Corp. (NASDAQ:AHCO – Get Free Report) major shareholder Richard Cashin, Jr. bought 689,336 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was bought at an average cost of $9.73 per share, with a total value of $6,707,239.28. Following the transaction, the insider directly owned 15,864,871 shares of the company’s stock, valued at approximately $154,365,194.83. This trade represents a 4.54% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
AdaptHealth Stock Performance
AHCO stock remained flat at $9.75 during trading on Thursday. 2,028,117 shares of the company’s stock were exchanged, compared to its average volume of 1,561,091. The company has a fifty day moving average of $10.08 and a two-hundred day moving average of $9.67. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.02 and a quick ratio of 0.81. The firm has a market capitalization of $1.33 billion, a P/E ratio of -17.73, a P/E/G ratio of 1.12 and a beta of 1.76. AdaptHealth Corp. has a 52-week low of $7.11 and a 52-week high of $11.17.
AdaptHealth (NASDAQ:AHCO – Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($1.10). AdaptHealth had a negative net margin of 2.18% and a positive return on equity of 3.42%. The company had revenue of $846.29 million during the quarter, compared to analyst estimates of $832.51 million. During the same period in the prior year, the company earned $0.34 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis. Sell-side analysts predict that AdaptHealth Corp. will post 0.88 EPS for the current year.
Wall Street Analyst Weigh In
AHCO has been the subject of a number of analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $13.00 price target on shares of AdaptHealth in a research report on Wednesday, February 25th. Wall Street Zen cut AdaptHealth from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings downgraded AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday, February 25th. Zacks Research upgraded AdaptHealth from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Finally, Leerink Partners reduced their price target on shares of AdaptHealth from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $13.25.
View Our Latest Stock Report on AdaptHealth
Institutional Trading of AdaptHealth
Institutional investors and hedge funds have recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new stake in shares of AdaptHealth in the 3rd quarter valued at approximately $35,000. PNC Financial Services Group Inc. lifted its position in AdaptHealth by 22.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock valued at $70,000 after acquiring an additional 1,279 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of AdaptHealth by 318.0% during the second quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock worth $90,000 after buying an additional 7,297 shares during the period. Tidal Investments LLC acquired a new position in AdaptHealth during the 2nd quarter worth approximately $96,000. Finally, CIBC Bancorp USA Inc. acquired a new position in AdaptHealth during the third quarter worth $97,000. 82.67% of the stock is currently owned by institutional investors.
About AdaptHealth
AdaptHealth, Inc operates as a leading provider of home medical equipment (HME) and related services in the United States. The company focuses on delivering respiratory care, mobility solutions and bathroom safety products to patients with chronic and acute medical needs. Through its comprehensive service offerings, AdaptHealth aims to enhance quality of life and clinical outcomes for patients who require long-term support outside of a hospital setting.
The company’s respiratory portfolio includes products such as continuous positive airway pressure (CPAP) devices, oxygen concentrators, ventilators, and associated supplies for patients with sleep apnea, COPD and other pulmonary conditions.