AdaptHealth (NASDAQ:AHCO) Shares Gap Up to $9.43

AdaptHealth Corp. (NASDAQ:AHCO) gapped up prior to trading on Thursday . The stock had previously closed at $9.43, but opened at $9.70. AdaptHealth shares last traded at $9.62, with a volume of 81,278 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AHCO shares. UBS Group upped their price target on AdaptHealth from $9.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Jefferies Financial Group cut shares of AdaptHealth from a “buy” rating to a “hold” rating and lowered their target price for the stock from $14.50 to $8.00 in a research note on Monday, January 8th. 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price target on shares of AdaptHealth in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $12.10.

AdaptHealth Price Performance

The stock has a market capitalization of $1.24 billion, a PE ratio of -1.79, a PEG ratio of 0.63 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. The business has a fifty day moving average price of $9.74 and a 200-day moving average price of $8.37.

AdaptHealth (NASDAQ:AHCO) last issued its earnings results on Tuesday, February 27th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.44. AdaptHealth had a positive return on equity of 8.84% and a negative net margin of 21.21%. The business had revenue of $858.23 million during the quarter, compared to analyst estimates of $825.94 million. Research analysts expect 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 business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $11.02, for a total value of $2,012,329.14. Following the completion of the sale, the insider now directly owns 11,643,769 shares of the company’s stock, valued at $128,314,334.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder James E. Flynn sold 52,487 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $10.93, for a total transaction 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 $129,262,289.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder James E. Flynn sold 182,607 shares of AdaptHealth stock in a transaction 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 completion of the transaction, the insider now directly owns 11,643,769 shares in the company, valued at $128,314,334.38. The disclosure for this sale can be found here. 13.60% of the stock is owned by insiders.

Hedge Funds Weigh In On AdaptHealth

Several hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its position in AdaptHealth by 197.1% during the 1st quarter. GAMMA Investing LLC now owns 2,537 shares of the company’s stock valued at $29,000 after purchasing an additional 1,683 shares during the last quarter. Quarry LP bought a new position in shares of AdaptHealth during the second quarter valued at approximately $33,000. PNC Financial Services Group Inc. lifted its stake in AdaptHealth by 653.7% in the second quarter. PNC Financial Services Group Inc. now owns 2,962 shares of the company’s stock worth $36,000 after acquiring an additional 2,569 shares during the period. Tower Research Capital LLC TRC lifted its stake in AdaptHealth by 610.0% in the first quarter. Tower Research Capital LLC TRC now owns 3,394 shares of the company’s stock worth $42,000 after acquiring an additional 2,916 shares during the period. Finally, Dark Forest Capital Management LP boosted its holdings in AdaptHealth by 31,871.4% in the first quarter. Dark Forest Capital Management LP now owns 4,476 shares of the company’s stock valued at $56,000 after acquiring an additional 4,462 shares in the last quarter. 82.67% of the stock is owned by institutional investors.

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.