AdaptHealth (NASDAQ:AHCO) Shares Gap Up to $22.30

Shares of AdaptHealth Corp. (NASDAQ:AHCOGet Rating) gapped up prior to trading on Tuesday . The stock had previously closed at $22.30, but opened at $24.41. AdaptHealth shares last traded at $23.81, with a volume of 77,558 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently commented on AHCO. Canaccord Genuity Group decreased their price objective on AdaptHealth from $29.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, May 12th. Deutsche Bank Aktiengesellschaft decreased their price objective on AdaptHealth from $28.00 to $22.00 in a research note on Wednesday, May 11th. Truist Financial increased their price objective on AdaptHealth from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, July 14th. Finally, TheStreet lowered AdaptHealth from a “c-” rating to a “d+” rating in a research note on Friday, April 29th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, AdaptHealth presently has an average rating of “Buy” and an average price target of $24.67.

AdaptHealth Trading Up 2.9 %

The business has a 50 day simple moving average of $19.14 and a 200-day simple moving average of $17.32. The company has a current ratio of 1.39, a quick ratio of 1.16 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 45.18, a price-to-earnings-growth ratio of 0.32 and a beta of 0.52.

AdaptHealth (NASDAQ:AHCOGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.23). AdaptHealth had a return on equity of 7.77% and a net margin of 7.54%. The business had revenue of $706.20 million during the quarter, compared to analyst estimates of $646.42 million. During the same period in the previous year, the business posted $0.17 earnings per share. The firm’s quarterly revenue was up 46.5% on a year-over-year basis. On average, equities analysts predict that AdaptHealth Corp. will post 1.47 earnings per share for the current year.

Insider Transactions at AdaptHealth

In other news, Director Skyknight Capital Fund Ii, L.P acquired 9,300 shares of the business’s stock in a transaction dated Monday, May 23rd. The shares were bought at an average cost of $17.44 per share, for a total transaction of $162,192.00. Following the acquisition, the director now directly owns 2,793,843 shares in the company, valued at approximately $48,724,621.92. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, Director Aero Holdings Ii Ll Skyknight acquired 100,000 shares of the business’s stock in a transaction dated Thursday, June 16th. The shares were bought at an average cost of $16.78 per share, for a total transaction of $1,678,000.00. Following the acquisition, the director now directly owns 200,000 shares in the company, valued at approximately $3,356,000. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Skyknight Capital Fund Ii, L.P acquired 9,300 shares of the business’s stock in a transaction dated Monday, May 23rd. The stock was purchased at an average price of $17.44 per share, for a total transaction of $162,192.00. Following the completion of the acquisition, the director now owns 2,793,843 shares in the company, valued at $48,724,621.92. The disclosure for this purchase can be found here. Insiders have bought a total of 350,390 shares of company stock worth $6,016,723 in the last three months. 17.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AdaptHealth

A number of large investors have recently modified their holdings of the company. SkyKnight Capital L.P. raised its holdings in shares of AdaptHealth by 9.3% in the 2nd quarter. SkyKnight Capital L.P. now owns 8,906,070 shares of the company’s stock worth $160,666,000 after purchasing an additional 760,499 shares during the period. CX Institutional purchased a new stake in shares of AdaptHealth during the 2nd quarter valued at about $188,000. US Bancorp DE raised its holdings in shares of AdaptHealth by 121.7% during the 2nd quarter. US Bancorp DE now owns 2,614 shares of the company’s stock valued at $48,000 after buying an additional 1,435 shares during the period. Victory Capital Management Inc. raised its holdings in shares of AdaptHealth by 34.0% during the 2nd quarter. Victory Capital Management Inc. now owns 38,790 shares of the company’s stock valued at $700,000 after buying an additional 9,853 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of AdaptHealth by 143.3% during the 2nd quarter. SG Americas Securities LLC now owns 20,314 shares of the company’s stock valued at $366,000 after buying an additional 11,966 shares during the period. 83.68% of the stock is currently owned by hedge funds and other institutional investors.

About AdaptHealth

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AdaptHealth Corp., together with its subsidiaries, provides 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 to patients 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.

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