AdaptHealth Corp. (NASDAQ:AHCO) Short Interest Down 11.4% in April

AdaptHealth Corp. (NASDAQ:AHCO) saw a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 7,270,000 shares, a drop of 11.4% from the March 31st total of 8,210,000 shares. Currently, 10.3% of the shares of the stock are sold short. Based on an average trading volume of 1,140,000 shares, the days-to-cover ratio is presently 6.4 days.

Insider Activity

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

Institutional Trading of AdaptHealth

Institutional investors have recently modified their holdings of the company. Deerfield Management Company L.P. Series C raised its position in AdaptHealth by 22.7% during the 3rd quarter. Deerfield Management Company L.P. Series C now owns 13,607,940 shares of the company’s stock valued at $123,832,000 after purchasing an additional 2,513,026 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in AdaptHealth by 88.7% in the third quarter. First Eagle Investment Management LLC now owns 410,366 shares of the company’s stock worth $3,734,000 after acquiring an additional 192,900 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of AdaptHealth by 672.8% in the fourth quarter. Federated Hermes Inc. now owns 705,125 shares of the company’s stock worth $5,140,000 after acquiring an additional 613,882 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of AdaptHealth by 24.9% during 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. Finally, Dark Forest Capital Management LP purchased a new position in shares of AdaptHealth in the 3rd quarter worth about $809,000. 82.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AHCO shares. UBS Group raised their price objective 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. Jefferies Financial Group lowered AdaptHealth from a “buy” rating to a “hold” rating and dropped their price target for the stock from $14.50 to $8.00 in a research note on Monday, January 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price objective on shares of AdaptHealth in a research report on Monday, March 4th. Finally, Truist Financial raised their price objective on AdaptHealth from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.10.

AdaptHealth Price Performance

Shares of AdaptHealth stock opened at $10.13 on Tuesday. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.21 and a quick ratio of 1.00. AdaptHealth has a one year low of $6.37 and a one year high of $15.37. The business’s 50 day simple moving average is $10.10 and its two-hundred day simple moving average is $8.46. The stock has a market capitalization of $1.35 billion, a P/E ratio of -1.91, a price-to-earnings-growth ratio of 0.65 and a beta of 1.02.

AdaptHealth (NASDAQ:AHCO) last issued its earnings results on Tuesday, February 27th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.20 by $0.44. The company had revenue of $858.23 million for the quarter, compared to the consensus estimate 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 will post 0.88 EPS for the current year.

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.