AdaptHealth (NASDAQ:AHCO) Trading 8.8% Higher – Here’s What Happened

Shares of AdaptHealth Corp. (NASDAQ:AHCO) were up 8.8% on Wednesday . The stock traded as high as $10.20 and last traded at $10.3280. Approximately 260,952 shares changed hands during trading, a decline of 80% from the average daily volume of 1,280,118 shares. The stock had previously closed at $9.49.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AHCO. Wall Street Zen cut AdaptHealth from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings lowered AdaptHealth from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Canaccord Genuity Group raised their target price on shares of AdaptHealth from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Zacks Research lowered shares of AdaptHealth from a “hold” rating to a “strong sell” rating in a research note on Friday, September 19th. Five investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, AdaptHealth presently has a consensus rating of “Hold” and a consensus price target of $13.60.

AdaptHealth Price Performance

The stock has a market cap of $1.39 billion, a P/E ratio of 18.62, a PEG ratio of 1.38 and a beta of 1.77. The company has a 50 day simple moving average of $9.35 and a 200 day simple moving average of $9.22. The company has a current ratio of 1.08, a quick ratio of 0.86 and a debt-to-equity ratio of 1.09.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.05). AdaptHealth had a return on equity of 4.85% and a net margin of 2.53%.The business had revenue of $820.31 million during the quarter, compared to the consensus estimate of $799.62 million. During the same period in the prior year, the firm earned $0.15 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Sell-side analysts forecast that AdaptHealth Corp. will post 0.88 earnings per share for the current fiscal year.

Insider Buying and Selling at AdaptHealth

In related news, Director David Solomon Williams III sold 5,000 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $9.43, for a total transaction of $47,150.00. Following the sale, the director owned 45,045 shares in the company, valued at approximately $424,774.35. This represents a 9.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.55% of the stock is owned by insiders.

Institutional Investors Weigh In On AdaptHealth

Several large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its holdings in AdaptHealth by 96.5% during the first quarter. Russell Investments Group Ltd. now owns 383,464 shares of the company’s stock worth $4,157,000 after buying an additional 188,293 shares during the last quarter. Intech Investment Management LLC lifted its stake in AdaptHealth by 88.8% in the first quarter. Intech Investment Management LLC now owns 225,452 shares of the company’s stock valued at $2,444,000 after acquiring an additional 106,035 shares during the last quarter. GAMMA Investing LLC grew its position in shares of AdaptHealth by 38.7% in the 2nd quarter. GAMMA Investing LLC now owns 10,365 shares of the company’s stock valued at $98,000 after acquiring an additional 2,892 shares during the period. Allianz Asset Management GmbH increased its stake in shares of AdaptHealth by 127.6% during the 2nd quarter. Allianz Asset Management GmbH now owns 167,279 shares of the company’s stock worth $1,577,000 after purchasing an additional 93,779 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of AdaptHealth by 14.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,301,652 shares of the company’s stock worth $14,110,000 after purchasing an additional 163,272 shares during the last quarter. 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.