AdaptHealth (NASDAQ:AHCO) Shares Up 5.3% – Time to Buy?

AdaptHealth Corp. (NASDAQ:AHCO) shares shot up 5.3% during trading on Tuesday . The company traded as high as $11.03 and last traded at $11.00. 105,022 shares changed hands 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

AHCO has been the topic of a number of research analyst reports. Canaccord Genuity Group dropped their target price on shares of 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 target price 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. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 target price on shares of AdaptHealth in a research report on Monday, August 12th. Finally, UBS Group lowered their target price on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $12.17.

AdaptHealth Price Performance

The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 0.94. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -6.84, a P/E/G ratio of 1.43 and a beta of 1.11. The business’s 50-day moving average price is $10.69 and its two-hundred day moving average price is $10.46.

AdaptHealth (NASDAQ:AHCO) last issued its quarterly 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). The company had revenue of $805.90 million during the quarter, compared to analysts’ expectations of $809.32 million. AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.19 EPS. On average, research analysts forecast that AdaptHealth Corp. will post 0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director David Solomon Williams III sold 4,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 36,899 shares of the company’s stock, valued at approximately $415,482.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other AdaptHealth news, Director David Solomon Williams III sold 4,000 shares of the company’s 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 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Shaw Rietkerk sold 25,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $11.24, for a total value of $281,000.00. Following the completion of 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 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

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in AdaptHealth by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock valued at $115,304,000 after acquiring an additional 818,241 shares in the last quarter. Reinhart Partners LLC. increased its stake 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 worth $69,611,000 after purchasing an additional 1,929,339 shares in the last quarter. Segall Bryant & Hamill LLC increased its stake in shares of AdaptHealth by 15.5% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 3,701,808 shares of the company’s stock worth $41,571,000 after purchasing an additional 496,453 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of 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 purchasing an additional 710,131 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of AdaptHealth by 7.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,230,364 shares of the company’s stock valued at $13,817,000 after acquiring an additional 81,624 shares during the last quarter. 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.