AdaptHealth (NASDAQ:AHCO) Stock Price Down 4.5%

AdaptHealth Corp. (NASDAQ:AHCO) traded down 4.5% during trading on Wednesday . The stock traded as low as $9.09 and last traded at $9.18. 224,600 shares changed hands during trading, a decline of 79% from the average session volume of 1,086,983 shares. The stock had previously closed at $9.61.

Analyst Upgrades and Downgrades

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

AdaptHealth Stock Down 0.7 %

The company’s fifty day moving average is $9.78 and its 200-day moving average is $8.38. The company has a quick ratio of 1.00, a current ratio of 1.21 and a debt-to-equity ratio of 1.44.

AdaptHealth (NASDAQ:AHCO) last released 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. The company had revenue of $858.23 million during the quarter, compared to analyst estimates of $825.94 million. AdaptHealth had a negative net margin of 21.21% and a positive return on equity of 8.84%. Analysts forecast that AdaptHealth Corp. will post 0.88 EPS for the current year.

Insiders Place Their Bets

In other AdaptHealth news, major shareholder James E. Flynn sold 182,607 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $11.02, for a total value 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 approximately $128,314,334.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other AdaptHealth news, major shareholder James E. Flynn sold 52,487 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $10.93, for a total value of $573,682.91. Following the completion of the transaction, the insider now directly owns 11,826,376 shares in the company, valued at approximately $129,262,289.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder James E. Flynn sold 182,607 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $11.02, for a total value of $2,012,329.14. Following the completion of the transaction, the insider now owns 11,643,769 shares of the company’s stock, valued at $128,314,334.38. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its position in shares of AdaptHealth by 1.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 28,364 shares of the company’s stock valued at $532,000 after acquiring an additional 491 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of AdaptHealth by 2.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,979 shares of the company’s stock valued at $377,000 after acquiring an additional 887 shares during the last quarter. First Republic Investment Management Inc. boosted its position in shares of AdaptHealth by 3.8% during the 2nd quarter. First Republic Investment Management Inc. now owns 24,990 shares of the company’s stock valued at $451,000 after acquiring an additional 924 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of AdaptHealth by 9.2% during the 2nd quarter. ProShare Advisors LLC now owns 11,574 shares of the company’s stock valued at $141,000 after acquiring an additional 978 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of AdaptHealth by 2.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 37,652 shares of the company’s stock valued at $469,000 after acquiring an additional 984 shares during the last quarter. 82.67% of the stock is currently owned by institutional investors.

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.