AdaptHealth (NASDAQ:AHCO) Trading Up 2.5%

AdaptHealth Corp. (NASDAQ:AHCOGet Rating) was up 2.5% on Friday . The company traded as high as $19.63 and last traded at $19.63. Approximately 10,547 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 1,101,505 shares. The stock had previously closed at $19.15.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AHCO shares. Deutsche Bank Aktiengesellschaft boosted their target price on AdaptHealth from $22.00 to $26.00 in a research note on Wednesday, August 10th. SVB Leerink boosted their target price on AdaptHealth from $24.00 to $29.00 and gave the company an “outperform” rating in a research note on Wednesday, August 10th. TheStreet raised AdaptHealth from a “d+” rating to a “c-” rating in a research note on Tuesday, August 2nd. Finally, Truist Financial boosted their target price on AdaptHealth from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, July 14th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, AdaptHealth presently has a consensus rating of “Buy” and an average price target of $26.17.

AdaptHealth Price Performance

The business has a 50-day simple moving average of $20.80 and a 200 day simple moving average of $17.96. The firm has a market cap of $2.71 billion, a P/E ratio of 38.75, a price-to-earnings-growth ratio of 0.30 and a beta of 0.59. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.15 and a current ratio of 1.39.

AdaptHealth (NASDAQ:AHCOGet Rating) last announced its earnings results on Tuesday, August 9th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.23). AdaptHealth had a return on equity of 6.49% and a net margin of 4.91%. The firm had revenue of $727.61 million during the quarter, compared to the consensus estimate of $724.27 million. During the same period in the prior year, the company posted ($0.11) EPS. The firm’s revenue was up 17.9% on a year-over-year basis. On average, analysts anticipate that AdaptHealth Corp. will post 1.39 earnings per share for the current fiscal year.

Insider Transactions at AdaptHealth

In other news, General Counsel Christopher J. Joyce sold 100,000 shares of the stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $22.20, for a total value of $2,220,000.00. Following the completion of the transaction, the general counsel now owns 106,071 shares of the company’s stock, valued at approximately $2,354,776.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Christopher J. Joyce sold 100,000 shares of the stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $22.20, for a total value of $2,220,000.00. Following the completion of the transaction, the general counsel now owns 106,071 shares of the company’s stock, valued at approximately $2,354,776.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Everest Hill Group Inc. sold 215,382 shares of the stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $23.50, for a total value of $5,061,477.00. Following the completion of the transaction, the insider now directly owns 15,119,834 shares of the company’s stock, valued at approximately $355,316,099. The disclosure for this sale can be found here. In the last quarter, insiders sold 474,382 shares of company stock valued at $10,938,477. Corporate insiders own 17.30% of the company’s stock.

Institutional Trading of AdaptHealth

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Deerfield Management Company L.P. Series C grew its stake in shares of AdaptHealth by 13.9% in the 1st quarter. Deerfield Management Company L.P. Series C now owns 11,650,072 shares of the company’s stock worth $186,751,000 after buying an additional 1,424,627 shares during the last quarter. SkyKnight Capital L.P. grew its stake 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 buying an additional 760,499 shares during the last quarter. FMR LLC grew its stake in shares of AdaptHealth by 33.6% in the 2nd quarter. FMR LLC now owns 7,497,429 shares of the company’s stock worth $135,254,000 after buying an additional 1,887,639 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of AdaptHealth by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 7,188,047 shares of the company’s stock worth $115,224,000 after buying an additional 28,749 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of AdaptHealth by 34.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,399,775 shares of the company’s stock worth $61,332,000 after buying an additional 876,148 shares during the last quarter. Hedge funds and other institutional investors own 75.76% of the company’s stock.

AdaptHealth Company Profile

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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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