AdaptHealth (NASDAQ:AHCO) Major Shareholder Richard Cashin, Jr. Acquires 820,528 Shares of Stock

AdaptHealth Corp. (NASDAQ:AHCO) major shareholder Richard Cashin, Jr. bought 820,528 shares of AdaptHealth stock in a transaction dated Tuesday, March 10th. The stock was acquired at an average cost of $9.73 per share, for a total transaction of $7,983,737.44. Following the completion of the transaction, the insider directly owned 14,638,708 shares in the company, valued at approximately $142,434,628.84. This trade represents a 5.94% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

AdaptHealth Stock Up 6.7%

NASDAQ AHCO traded up $0.65 during trading hours on Friday, reaching $10.40. 718,538 shares of the company’s stock traded hands, compared to its average volume of 1,208,445. AdaptHealth Corp. has a 52-week low of $7.11 and a 52-week high of $11.17. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.02 and a quick ratio of 0.81. The firm has a 50-day simple moving average of $10.08 and a 200 day simple moving average of $9.67. The firm has a market cap of $1.41 billion, a PE ratio of -18.93, a PEG ratio of 1.12 and a beta of 1.76.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings data on Tuesday, February 24th. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($1.10). AdaptHealth had a positive return on equity of 3.42% and a negative net margin of 2.18%.The business had revenue of $846.29 million during the quarter, compared to analysts’ expectations of $832.51 million. During the same quarter last year, the company posted $0.34 EPS. AdaptHealth’s revenue for the quarter was down 1.2% compared to the same quarter last year. Sell-side analysts anticipate that AdaptHealth Corp. will post 0.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. increased its holdings in AdaptHealth by 22.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock worth $70,000 after buying an additional 1,279 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of AdaptHealth by 6.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,095 shares of the company’s stock valued at $256,000 after acquiring an additional 1,671 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of AdaptHealth by 3.1% during the 4th quarter. MetLife Investment Management LLC now owns 57,364 shares of the company’s stock valued at $571,000 after acquiring an additional 1,749 shares during the last quarter. Corient Private Wealth LLC grew its stake in shares of AdaptHealth by 8.6% in the fourth quarter. Corient Private Wealth LLC now owns 22,562 shares of the company’s stock worth $227,000 after acquiring an additional 1,794 shares during the period. Finally, CWM LLC raised its holdings in shares of AdaptHealth by 17.5% during the third quarter. CWM LLC now owns 12,306 shares of the company’s stock valued at $110,000 after purchasing an additional 1,835 shares during the last quarter. 82.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AHCO has been the subject of a number of recent research reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $13.00 price objective on shares of AdaptHealth in a research note on Wednesday, February 25th. Leerink Partners reduced their price target on AdaptHealth from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Weiss Ratings lowered AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, February 25th. Zacks Research upgraded shares of AdaptHealth from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 1st. Finally, Wall Street Zen downgraded shares of AdaptHealth from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.25.

AdaptHealth Company Profile

AdaptHealth, Inc operates as a leading provider of home medical equipment (HME) and related services in the United States. The company focuses on delivering respiratory care, mobility solutions and bathroom safety products to patients with chronic and acute medical needs. Through its comprehensive service offerings, AdaptHealth aims to enhance quality of life and clinical outcomes for patients who require long-term support outside of a hospital setting.

The company’s respiratory portfolio includes products such as continuous positive airway pressure (CPAP) devices, oxygen concentrators, ventilators, and associated supplies for patients with sleep apnea, COPD and other pulmonary conditions.