AdaptHealth Corp. (NASDAQ:AHCO) Short Interest Update

AdaptHealth Corp. (NASDAQ:AHCO) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 8,510,000 shares, a drop of 12.0% from the December 15th total of 9,670,000 shares. Based on an average daily trading volume, of 1,110,000 shares, the days-to-cover ratio is currently 7.7 days. Approximately 9.8% of the company’s shares are sold short.

Analysts Set New Price Targets

Several research firms have recently weighed in on AHCO. Royal Bank of Canada lowered their price objective on shares of AdaptHealth from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. UBS Group decreased their price target on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Canaccord Genuity Group cut their target price on AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Robert W. Baird lowered their price objective on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, Truist Financial decreased their target price on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $12.40.

Hedge Funds Weigh In On AdaptHealth

Institutional investors have recently made changes to their positions in the stock. Moody National Bank Trust Division boosted its position in AdaptHealth by 31.5% during the 4th quarter. Moody National Bank Trust Division now owns 151,170 shares of the company’s stock valued at $1,439,000 after buying an additional 36,212 shares during the period. Reinhart Partners LLC. boosted its holdings in shares of AdaptHealth by 1.1% during the 4th quarter. Reinhart Partners LLC. now owns 6,266,854 shares of the company’s stock valued at $59,660,000 after buying an additional 68,212 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of AdaptHealth by 5.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 474,722 shares of the company’s stock worth $4,519,000 after buying an additional 24,882 shares during the last quarter. JPMorgan Chase & Co. increased its position in AdaptHealth by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 191,833 shares of the company’s stock valued at $2,154,000 after buying an additional 81,097 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of AdaptHealth by 39.7% in the third quarter. Principal Financial Group Inc. now owns 543,744 shares of the company’s stock worth $6,106,000 after acquiring an additional 154,434 shares during the last quarter. Institutional investors own 82.67% of the company’s stock.

AdaptHealth Stock Performance

Shares of AHCO opened at $10.52 on Friday. The stock’s fifty day moving average price is $9.91 and its two-hundred day moving average price is $10.34. AdaptHealth has a 1 year low of $6.58 and a 1 year high of $11.90. The firm has a market cap of $1.42 billion, a PE ratio of -6.38, a PEG ratio of 1.31 and a beta of 1.09. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.00.

AdaptHealth (NASDAQ:AHCO) last released its quarterly 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). AdaptHealth had a negative net margin of 6.57% and a positive return on equity of 9.62%. The firm had revenue of $805.90 million for the quarter, compared to analysts’ expectations of $809.32 million. During the same quarter last year, the firm earned $0.19 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities research analysts forecast that AdaptHealth will post 0.88 EPS for the current year.

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.