AdaptHealth (NASDAQ:AHCO) Major Shareholder Buys $7,983,737.44 in Stock

AdaptHealth Corp. (NASDAQ:AHCO) major shareholder Richard Cashin, Jr. purchased 820,528 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was acquired at an average price of $9.73 per share, for a total transaction of $7,983,737.44. Following the acquisition, the insider directly owned 14,638,708 shares of the company’s stock, valued at $142,434,628.84. This trade represents a 5.94% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

AdaptHealth Price Performance

NASDAQ AHCO remained flat at $9.75 on Thursday. The company’s stock had a trading volume of 2,028,117 shares, compared to its average volume of 1,561,091. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -17.73, a PEG ratio of 1.12 and a beta of 1.76. The firm’s 50-day moving average is $10.08 and its 200-day moving average is $9.67. AdaptHealth Corp. has a 52-week low of $7.11 and a 52-week high of $11.17. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 1.15.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Corient Private Wealth LLC lifted its position 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 purchasing an additional 1,794 shares in the last quarter. Millennium Management LLC raised its stake in AdaptHealth by 197.0% in the fourth quarter. Millennium Management LLC now owns 552,677 shares of the company’s stock valued at $5,505,000 after buying an additional 366,566 shares during the period. Man Group plc boosted its position in AdaptHealth by 24.3% during the fourth quarter. Man Group plc now owns 88,774 shares of the company’s stock worth $884,000 after purchasing an additional 17,371 shares during the period. Balyasny Asset Management L.P. grew its stake in AdaptHealth by 699.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 118,942 shares of the company’s stock valued at $1,185,000 after buying an additional 104,058 shares during the last quarter. Finally, Aristeia Capital L.L.C. acquired a new position in shares of AdaptHealth in the fourth quarter valued at approximately $749,000. Institutional investors and hedge funds own 82.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AHCO. Leerink Partners reduced their price objective on shares of AdaptHealth from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Weiss Ratings cut shares of AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday, February 25th. Royal Bank Of Canada reiterated an “outperform” rating and set a $13.00 price target on shares of AdaptHealth in a report on Wednesday, February 25th. Wall Street Zen lowered AdaptHealth from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Zacks Research raised shares of AdaptHealth from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus 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.