AdaptHealth (NASDAQ:AHCO) Shares Down 4.5%

AdaptHealth Corp. (NASDAQ:AHCO) shares dropped 4.5% during mid-day trading on Wednesday . The company traded as low as $9.09 and last traded at $9.18. Approximately 224,600 shares were traded during trading, a decline of 79% from the average daily volume of 1,086,983 shares. The stock had previously closed at $9.61.

Wall Street Analyst Weigh In

AHCO has been the subject of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 target price on shares of AdaptHealth in a research note on Monday, March 4th. Truist Financial boosted their target price on shares of AdaptHealth from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Jefferies Financial Group lowered shares of AdaptHealth from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $14.50 to $8.00 in a research note on Monday, January 8th. Finally, UBS Group upped their price objective on shares of AdaptHealth from $9.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.10.

AdaptHealth Trading Down 1.1 %

The company has a market capitalization of $1.26 billion, a PE ratio of -1.80, a price-to-earnings-growth ratio of 0.65 and a beta of 1.02. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.44. The stock’s 50 day moving average is $9.69 and its two-hundred day moving average is $8.36.

AdaptHealth (NASDAQ:AHCO) last announced its earnings results on Tuesday, February 27th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.44. The business had revenue of $858.23 million during the quarter, compared to the consensus estimate of $825.94 million. AdaptHealth had a negative net margin of 21.21% and a positive return on equity of 8.84%. As a group, sell-side analysts predict that AdaptHealth Corp. will post 0.88 EPS for the current fiscal year.

Insider Activity at AdaptHealth

In other AdaptHealth news, major shareholder James E. Flynn sold 182,607 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $11.02, for a total transaction of $2,012,329.14. Following the completion of the transaction, the insider now directly owns 11,643,769 shares of the company’s stock, valued at approximately $128,314,334.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder James E. Flynn sold 52,487 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $10.93, for a total transaction of $573,682.91. Following the sale, the insider now owns 11,826,376 shares of the company’s stock, valued at approximately $129,262,289.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder James E. Flynn sold 182,607 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $11.02, for a total transaction of $2,012,329.14. Following the sale, the insider now directly owns 11,643,769 shares in the company, valued at approximately $128,314,334.38. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AdaptHealth

A number of hedge funds and other institutional investors have recently made changes to their positions in AHCO. Inspirion Wealth Advisors LLC grew its stake in AdaptHealth by 32.3% in the 1st quarter. Inspirion Wealth Advisors LLC now owns 122,863 shares of the company’s stock valued at $1,414,000 after acquiring an additional 30,000 shares during the period. GAMMA Investing LLC grew its stake in AdaptHealth by 197.1% in the 1st quarter. GAMMA Investing LLC now owns 2,537 shares of the company’s stock valued at $29,000 after acquiring an additional 1,683 shares during the period. Reinhart Partners LLC. grew its stake in AdaptHealth by 3.6% in the 1st quarter. Reinhart Partners LLC. now owns 4,210,211 shares of the company’s stock valued at $48,460,000 after acquiring an additional 144,516 shares during the period. PNC Financial Services Group Inc. grew its stake in AdaptHealth by 6.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 24,504 shares of the company’s stock valued at $179,000 after acquiring an additional 1,382 shares during the period. Finally, Vanguard Group Inc. grew its stake in AdaptHealth by 6.3% in the 4th quarter. Vanguard Group Inc. now owns 9,199,481 shares of the company’s stock valued at $67,064,000 after acquiring an additional 542,928 shares during the period. Institutional investors and hedge funds 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.