AdaptHealth Corp. (NASDAQ:AHCO) Short Interest Update

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

AdaptHealth Price Performance

Shares of NASDAQ AHCO opened at $10.82 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.00. The firm has a fifty day moving average price of $10.00 and a 200-day moving average price of $10.39. AdaptHealth has a 1 year low of $6.91 and a 1 year high of $11.90.

AdaptHealth (NASDAQ:AHCO) last issued its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The company had revenue of $805.90 million for the quarter, compared to the consensus estimate of $809.32 million. During the same quarter in the prior year, the company posted $0.19 EPS. AdaptHealth’s revenue was up .2% compared to the same quarter last year. Analysts anticipate that AdaptHealth will post 0.88 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AHCO. Intech Investment Management LLC boosted its stake in AdaptHealth by 223.2% during the 3rd quarter. Intech Investment Management LLC now owns 59,650 shares of the company’s stock worth $670,000 after purchasing an additional 41,196 shares during the last quarter. Victory Capital Management Inc. increased its stake in AdaptHealth by 727.4% during the third quarter. Victory Capital Management Inc. now owns 141,507 shares of the company’s stock worth $1,589,000 after purchasing an additional 124,404 shares during the period. Barclays PLC increased its stake in AdaptHealth by 361.3% during the third quarter. Barclays PLC now owns 181,240 shares of the company’s stock worth $2,034,000 after purchasing an additional 141,949 shares during the period. Royce & Associates LP increased its stake in AdaptHealth by 13.5% during the third quarter. Royce & Associates LP now owns 777,405 shares of the company’s stock worth $8,730,000 after purchasing an additional 92,740 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of AdaptHealth by 39.7% during the third quarter. Principal Financial Group Inc. now owns 543,744 shares of the company’s stock worth $6,106,000 after buying an additional 154,434 shares during the period. Hedge funds and other institutional investors own 82.67% of the company’s stock.

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.