AdaptHealth (NASDAQ:AHCO) Stock Price Up 5.3% – Here’s What Happened

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

Analyst Ratings Changes

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

AdaptHealth Trading Down 0.8 %

The company has a 50 day moving average of $10.67 and a two-hundred day moving average of $10.46. The stock has a market capitalization of $1.43 billion, a PE ratio of -6.42, a P/E/G ratio of 1.48 and a beta of 1.11. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.00 and a current ratio of 1.24.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.02). AdaptHealth had a negative net margin of 6.57% and a positive return on equity of 9.62%. The company had revenue of $805.90 million during the quarter, compared to analysts’ expectations of $809.32 million. During the same period in the previous year, the business earned $0.19 earnings per share. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts predict that AdaptHealth Corp. will post 0.89 EPS for the current year.

Insider Activity

In related news, Director David Solomon Williams III sold 4,000 shares of the firm’s 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 completion of the transaction, the director now owns 36,899 shares in the company, valued at $415,482.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Shaw Rietkerk sold 25,000 shares of the 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 sale, the chief operating officer now owns 212,611 shares in the company, valued at $2,389,747.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Solomon Williams III sold 4,000 shares of the firm’s stock in a transaction on 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 disclosure for this sale can be found here. Corporate insiders own 4.43% of the company’s stock.

Institutional Investors Weigh In On AdaptHealth

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AHCO. Boston Partners purchased a new stake in shares of AdaptHealth in the first quarter worth about $693,000. Russell Investments Group Ltd. acquired a new position in AdaptHealth in the first quarter valued at approximately $2,242,000. Hillsdale Investment Management Inc. acquired a new position in AdaptHealth in the first quarter valued at approximately $4,240,000. First Eagle Investment Management LLC boosted its position in AdaptHealth by 18.2% in the 1st quarter. First Eagle Investment Management LLC now owns 594,951 shares of the company’s stock worth $6,848,000 after purchasing an additional 91,772 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of AdaptHealth by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock worth $115,304,000 after purchasing an additional 818,241 shares during the period. 82.67% of the stock is owned by institutional investors and hedge funds.

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.