AdaptHealth Corp. (NASDAQ:AHCO) Short Interest Update

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

AdaptHealth Stock Performance

Shares of AHCO stock traded up $0.14 during trading on Friday, hitting $10.52. The company’s stock had a trading volume of 599,683 shares, compared to its average volume of 1,524,304. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 1.34. The company has a market cap of $1.42 billion, a PE ratio of -6.38, a P/E/G ratio of 1.31 and a beta of 1.09. The business has a fifty day moving average of $9.91 and a 200-day moving average of $10.35. AdaptHealth has a 52 week low of $6.58 and a 52 week high of $11.90.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its stake in AdaptHealth by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 271,033 shares of the company’s stock valued at $2,710,000 after buying an additional 3,498 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in shares of AdaptHealth by 11.9% during the 2nd quarter. Texas Permanent School Fund Corp now owns 79,704 shares of the company’s stock valued at $797,000 after purchasing an additional 8,503 shares during the period. American Century Companies Inc. lifted its holdings in AdaptHealth by 25.0% during the 2nd quarter. American Century Companies Inc. now owns 116,122 shares of the company’s stock worth $1,161,000 after purchasing an additional 23,215 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in AdaptHealth by 49.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 20,783 shares of the company’s stock worth $208,000 after purchasing an additional 6,879 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in AdaptHealth by 43.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,327,738 shares of the company’s stock valued at $23,277,000 after buying an additional 710,131 shares in the last quarter. 82.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.