AdaptHealth (NASDAQ:AHCO) Shares Down 4.5%

AdaptHealth Corp. (NASDAQ:AHCO) dropped 4.5% during mid-day trading on Wednesday . The stock traded as low as $9.09 and last traded at $9.18. Approximately 224,600 shares traded hands during mid-day 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 topic of several research reports. Truist Financial boosted their price target on shares of AdaptHealth from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 target price on shares of AdaptHealth in a report on Monday, March 4th. UBS Group upped their target price on shares of AdaptHealth from $9.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, Jefferies Financial Group lowered shares of AdaptHealth from a “buy” rating to a “hold” rating and decreased their price target for the stock from $14.50 to $8.00 in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.10.

AdaptHealth Stock Down 1.1 %

The stock’s fifty day moving average price is $9.69 and its 200 day moving average price is $8.36. The stock has a market cap of $1.26 billion, a P/E ratio of -1.80, a price-to-earnings-growth ratio of 0.65 and a beta of 1.02. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.44.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.44. AdaptHealth had a negative net margin of 21.21% and a positive return on equity of 8.84%. The company had revenue of $858.23 million during the quarter, compared to analysts’ expectations of $825.94 million. As a group, research analysts forecast that AdaptHealth Corp. will post 0.88 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On AdaptHealth

Institutional investors have recently added to or reduced their stakes in the company. Deerfield Management Company L.P. Series C boosted its position in AdaptHealth by 22.7% during the 3rd quarter. Deerfield Management Company L.P. Series C now owns 13,607,940 shares of the company’s stock valued at $123,832,000 after buying an additional 2,513,026 shares during the period. First Eagle Investment Management LLC boosted its position in AdaptHealth by 88.7% during the 3rd quarter. First Eagle Investment Management LLC now owns 410,366 shares of the company’s stock valued at $3,734,000 after buying an additional 192,900 shares during the period. Charles Schwab Investment Management Inc. boosted its position in AdaptHealth by 24.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 857,812 shares of the company’s stock valued at $7,806,000 after buying an additional 170,923 shares during the period. Dark Forest Capital Management LP bought a new position in AdaptHealth in the 3rd quarter worth $809,000. Finally, Loomis Sayles & Co. L P bought a new position in AdaptHealth in the 3rd quarter worth $5,751,000. Hedge funds and other institutional investors own 82.67% of the company’s stock.

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.