AdaptHealth Corp. (NASDAQ:AHCO – Get Rating) saw a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 8,880,000 shares, a decline of 11.6% from the January 15th total of 10,040,000 shares. Based on an average daily volume of 753,500 shares, the short-interest ratio is presently 11.8 days. Currently, 12.4% of the company’s shares are short sold.
Wall Street Analysts Forecast Growth
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Several analysts have commented on the stock. SVB Leerink increased their price target on shares of AdaptHealth from $29.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, November 10th. Canaccord Genuity Group boosted their price objective on shares of AdaptHealth from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, November 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $27.67.
AdaptHealth Price Performance
Shares of NASDAQ AHCO opened at $21.07 on Wednesday. The firm has a market cap of $2.84 billion, a PE ratio of 49.00, a price-to-earnings-growth ratio of 0.46 and a beta of 0.65. The business has a 50 day moving average price of $20.52 and a two-hundred day moving average price of $20.90. The company has a quick ratio of 1.08, a current ratio of 1.35 and a debt-to-equity ratio of 1.00. AdaptHealth has a fifty-two week low of $11.40 and a fifty-two week high of $27.48.
Insider Transactions at AdaptHealth
In other news, COO Daniel Bunting sold 115,078 shares of the business’s stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $21.94, for a total transaction of $2,524,811.32. Following the completion of the sale, the chief operating officer now directly owns 183,619 shares of the company’s stock, valued at $4,028,600.86. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, COO Daniel Bunting sold 115,078 shares of the firm’s stock in a transaction on Friday, December 9th. The shares were sold at an average price of $21.94, for a total transaction of $2,524,811.32. Following the sale, the chief operating officer now owns 183,619 shares in the company, valued at approximately $4,028,600.86. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Everest Hill Group Inc. sold 540,000 shares of the firm’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $20.75, for a total transaction of $11,205,000.00. Following the completion of the sale, the insider now directly owns 12,805,008 shares in the company, valued at approximately $265,703,916. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,255,078 shares of company stock worth $25,794,600. Company insiders own 17.29% of the company’s stock.
Institutional Trading of AdaptHealth
A number of hedge funds and other institutional investors have recently modified their holdings of AHCO. Versant Capital Management Inc acquired a new position in shares of AdaptHealth in the 3rd quarter worth $26,000. US Bancorp DE lifted its position in shares of AdaptHealth by 121.7% in the second quarter. US Bancorp DE now owns 2,614 shares of the company’s stock worth $48,000 after buying an additional 1,435 shares during the last quarter. Group One Trading L.P. lifted its position in shares of AdaptHealth by 134.3% in the first quarter. Group One Trading L.P. now owns 3,720 shares of the company’s stock worth $60,000 after buying an additional 2,132 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of AdaptHealth by 49.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,675 shares of the company’s stock worth $71,000 after purchasing an additional 1,209 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of AdaptHealth during the 1st quarter worth about $82,000. Institutional investors own 86.33% of the company’s stock.
AdaptHealth Company Profile
AdaptHealth Corp. engages in the provision of home healthcare equipment, supplies and related services. It focuses on sleep therapy equipment to individuals suffering from obstructive sleep apnea (OSA), home medical equipment to patients discharged from acute care and other facilities, oxygen and related chronic therapy services in the home, and HME medical devices and supplies on behalf of chronically ill patients with diabetes care, wound care, urological, ostomy, and nutritional supply needs.
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