Short Interest in AdaptHealth Corp. (NASDAQ:AHCO) Decreases By 12.0%

AdaptHealth Corp. (NASDAQ:AHCO) was the recipient of a significant drop in short interest in 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 trading volume of 1,110,000 shares, the days-to-cover ratio is presently 7.7 days. Currently, 9.8% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Royal Bank of Canada decreased their price target on shares of AdaptHealth from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Robert W. Baird decreased their price target 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. Truist Financial decreased their price target on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Canaccord Genuity Group cut 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. Finally, UBS Group cut their target price on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $12.40.

Institutional Trading of AdaptHealth

Several large investors have recently added to or reduced their stakes in AHCO. Pacer Advisors Inc. bought a new stake in AdaptHealth in the fourth quarter valued at $76,271,000. Reinhart Partners LLC. boosted its holdings in shares of AdaptHealth by 45.2% during the 3rd quarter. Reinhart Partners LLC. now owns 6,198,642 shares of the company’s stock valued at $69,611,000 after buying an additional 1,929,339 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of AdaptHealth by 204.0% during the 4th quarter. Principal Financial Group Inc. now owns 1,652,765 shares of the company’s stock valued at $15,735,000 after buying an additional 1,109,021 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 buying an additional 710,131 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of AdaptHealth by 19.8% during the 3rd quarter. State Street Corp now owns 4,124,284 shares of the company’s stock valued at $46,316,000 after buying an additional 681,816 shares in the last quarter. Institutional investors own 82.67% of the company’s stock.

AdaptHealth Stock Performance

Shares of AdaptHealth stock traded up $0.11 on Friday, hitting $10.82. The stock had a trading volume of 807,198 shares, compared to its average volume of 760,313. The stock’s 50-day simple moving average is $10.02 and its two-hundred day simple moving average is $10.38. AdaptHealth has a one year low of $6.91 and a one year high of $11.90. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 1.34.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.02). The company 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 business’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.19 EPS. As a group, equities analysts predict that AdaptHealth will post 0.88 earnings per share for the current fiscal year.

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.