AdaptHealth (NASDAQ:AHCO) Shares Gap Up to $9.43

AdaptHealth Corp. (NASDAQ:AHCO) shares gapped up before the market opened on Thursday . The stock had previously closed at $9.43, but opened at $9.70. AdaptHealth shares last traded at $9.62, with a volume of 81,278 shares traded.

Analysts Set New Price Targets

Several research analysts have commented on AHCO shares. UBS Group lifted their price target on AdaptHealth from $9.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Jefferies Financial Group lowered AdaptHealth from a “buy” rating to a “hold” rating and dropped their target price for the company from $14.50 to $8.00 in a report on Monday, January 8th. Truist Financial boosted their target price on AdaptHealth from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 target price on shares of AdaptHealth in a report on Monday, March 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, AdaptHealth currently has an average rating of “Hold” and an average target price of $12.10.

AdaptHealth Stock Performance

The company has a debt-to-equity ratio of 1.44, a current ratio of 1.21 and a quick ratio of 1.00. The stock has a market capitalization of $1.24 billion, a PE ratio of -1.76, a P/E/G ratio of 0.62 and a beta of 1.02. The stock has a 50 day moving average of $9.82 and a two-hundred day moving average of $8.38.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.44. AdaptHealth had a positive return on equity of 8.84% and a negative net margin of 21.21%. The firm had revenue of $858.23 million for the quarter, compared to the consensus estimate of $825.94 million. Research analysts expect that AdaptHealth Corp. will post 0.88 EPS for the current fiscal year.

Insider Activity at AdaptHealth

In related news, major shareholder James E. Flynn sold 182,607 shares of AdaptHealth 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 sale, the insider now directly owns 11,643,769 shares in the company, valued at $128,314,334.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other AdaptHealth news, major shareholder James E. Flynn sold 52,487 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $10.93, for a total transaction of $573,682.91. Following the sale, the insider now directly owns 11,826,376 shares in the company, valued at $129,262,289.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder James E. Flynn sold 182,607 shares of the business’s stock in a transaction 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 sale, the insider now owns 11,643,769 shares in the company, valued at $128,314,334.38. The disclosure for this sale can be found here. Company insiders own 13.60% of the company’s stock.

Institutional Trading of AdaptHealth

Institutional investors have recently bought and sold shares of the company. Deerfield Management Company L.P. Series C boosted its position in AdaptHealth by 22.7% during the third quarter. Deerfield Management Company L.P. Series C now owns 13,607,940 shares of the company’s stock worth $123,832,000 after purchasing an additional 2,513,026 shares in the last quarter. First Eagle Investment Management LLC lifted its position in shares of AdaptHealth by 88.7% in the third quarter. First Eagle Investment Management LLC now owns 410,366 shares of the company’s stock valued at $3,734,000 after acquiring an additional 192,900 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of AdaptHealth by 24.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 857,812 shares of the company’s stock valued at $7,806,000 after acquiring an additional 170,923 shares in the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of AdaptHealth in the third quarter valued at $809,000. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of AdaptHealth in the third quarter valued at $5,751,000. 82.67% of the stock is currently owned by hedge funds and other institutional investors.

AdaptHealth Company Profile

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.