Short Interest in AdaptHealth Corp. (NASDAQ:AHCO) Expands By 9.9%

AdaptHealth Corp. (NASDAQ:AHCOGet Free Report) was the target of a significant growth in short interest in the month of April. As of April 30th, there was short interest totalling 7,990,000 shares, a growth of 9.9% from the April 15th total of 7,270,000 shares. Based on an average trading volume of 1,230,000 shares, the short-interest ratio is currently 6.5 days. Approximately 11.3% of the shares of the company are sold short.

AdaptHealth Price Performance

AHCO stock opened at $9.83 on Wednesday. AdaptHealth has a 12 month low of $6.37 and a 12 month high of $15.37. The company has a current ratio of 1.33, a quick ratio of 1.11 and a debt-to-equity ratio of 1.48. The company has a 50-day moving average price of $10.31 and a 200 day moving average price of $8.63. The stock has a market cap of $1.31 billion, a PE ratio of -1.87, a P/E/G ratio of 0.74 and a beta of 1.06.

AdaptHealth (NASDAQ:AHCOGet Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.44. The company had revenue of $858.23 million during the quarter, compared to analysts’ expectations of $825.94 million. AdaptHealth had a negative net margin of 21.45% and a positive return on equity of 8.47%. Equities research analysts anticipate that AdaptHealth will post 0.8 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On AdaptHealth

Several large investors have recently modified their holdings of AHCO. GAMMA Investing LLC increased its position in shares of AdaptHealth by 197.1% during the first quarter. GAMMA Investing LLC now owns 2,537 shares of the company’s stock worth $29,000 after purchasing an additional 1,683 shares in the last quarter. Covestor Ltd grew its holdings in shares of AdaptHealth by 279.6% during the first quarter. Covestor Ltd now owns 3,109 shares of the company’s stock valued at $36,000 after buying an additional 2,290 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of AdaptHealth in the 3rd quarter valued at $100,000. Raymond James & Associates purchased a new position in AdaptHealth in the 3rd quarter worth $101,000. Finally, Everence Capital Management Inc. acquired a new stake in AdaptHealth during the 4th quarter worth about $102,000. Institutional investors own 82.67% of the company’s stock.

Wall Street Analysts Forecast Growth

AHCO has been the topic of a number of research reports. Truist Financial lifted their price target on shares of AdaptHealth from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. UBS Group lifted their price objective on shares of AdaptHealth from $9.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price objective on shares of AdaptHealth in a research note on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.42.

Check Out Our Latest Analysis on AHCO

About AdaptHealth

(Get Free Report)

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.

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