AdaptHealth (NASDAQ:AHCO) Trading Up 5.9% – What’s Next?

AdaptHealth Corp. (NASDAQ:AHCO)’s stock price traded up 5.9% on Tuesday . The stock traded as high as $10.64 and last traded at $10.61. 509,766 shares changed hands during trading, a decline of 53% from the average session volume of 1,080,406 shares. The stock had previously closed at $10.02.

Analyst Ratings Changes

Separately, Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price target on shares of AdaptHealth in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.70.

AdaptHealth Stock Performance

The company has a quick ratio of 0.94, a current ratio of 1.15 and a debt-to-equity ratio of 1.38. The stock has a market cap of $1.41 billion, a P/E ratio of -2.01, a PEG ratio of 1.60 and a beta of 1.10. The business has a 50 day moving average price of $10.55 and a 200 day moving average price of $10.40.

AdaptHealth (NASDAQ:AHCO) last released its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The business had revenue of $805.98 million during the quarter, compared to analysts’ expectations of $802.62 million. AdaptHealth had a positive return on equity of 9.58% and a negative net margin of 21.20%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 EPS. As a group, sell-side analysts expect that AdaptHealth Corp. will post 0.87 EPS for the current year.

Insider Activity at AdaptHealth

In related news, Director David Solomon Williams III sold 4,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 36,899 shares in the company, valued at approximately $415,482.74. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director David Solomon Williams III sold 4,000 shares of AdaptHealth stock in a transaction dated 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 sale, the director now directly owns 36,899 shares in the company, valued at $415,482.74. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Shaw Rietkerk sold 25,000 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.24, for a total transaction of $281,000.00. Following the transaction, the chief operating officer now owns 212,611 shares in the company, valued at approximately $2,389,747.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AdaptHealth

Large investors have recently bought and sold shares of the business. Reinhart Partners LLC. increased its holdings in shares of AdaptHealth by 45.2% in the 3rd quarter. Reinhart Partners LLC. now owns 6,198,642 shares of the company’s stock valued at $69,611,000 after acquiring an additional 1,929,339 shares during the period. SG Americas Securities LLC grew its stake in AdaptHealth by 365.4% in the third quarter. SG Americas Securities LLC now owns 52,595 shares of the company’s stock valued at $591,000 after purchasing an additional 41,294 shares during the last quarter. Mackenzie Financial Corp raised its holdings in AdaptHealth by 48.6% in the second quarter. Mackenzie Financial Corp now owns 34,489 shares of the company’s stock worth $345,000 after purchasing an additional 11,280 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of AdaptHealth by 8.1% during the second quarter. The Manufacturers Life Insurance Company now owns 39,440 shares of the company’s stock valued at $394,000 after buying an additional 2,959 shares during the last quarter. Finally, MBB Public Markets I LLC bought a new stake in shares of AdaptHealth in the 2nd quarter valued at about $142,000. Institutional investors own 82.67% of the company’s stock.

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.