AdaptHealth Corp. (NASDAQ:AHCO) Sees Significant Growth in Short Interest

AdaptHealth Corp. (NASDAQ:AHCO) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 8,960,000 shares, a growth of 12.0% from the August 31st total of 8,000,000 shares. Currently, 10.8% of the company’s shares are sold short. Based on an average daily volume of 1,210,000 shares, the short-interest ratio is presently 7.4 days.

AdaptHealth Price Performance

Shares of AHCO opened at $11.23 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38. AdaptHealth has a 1 year low of $6.37 and a 1 year high of $11.90. The stock has a market cap of $1.50 billion, a P/E ratio of -2.13, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. The stock’s 50-day moving average price is $10.73 and its two-hundred day moving average price is $10.44.

AdaptHealth (NASDAQ:AHCO) last announced its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). AdaptHealth had a negative net margin of 21.20% and a positive return on equity of 9.58%. The firm had revenue of $805.98 million during the quarter, compared to analyst estimates of $802.62 million. During the same period in the prior year, the business posted $0.16 EPS. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities analysts predict that AdaptHealth will post 0.87 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Shaw Rietkerk sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.24, for a total value of $281,000.00. Following the sale, the chief operating officer now directly owns 212,611 shares of the company’s stock, valued at $2,389,747.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director David Solomon Williams III sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $11.26, for a total value of $45,040.00. Following the completion of the sale, the director now owns 36,899 shares of the company’s stock, valued at $415,482.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Shaw Rietkerk sold 25,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.24, for a total transaction of $281,000.00. Following the completion of the sale, the chief operating officer now owns 212,611 shares in the company, valued at $2,389,747.64. The disclosure for this sale can be found here. 4.43% of the stock is owned by corporate insiders.

Institutional Trading of AdaptHealth

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of AdaptHealth by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock valued at $115,304,000 after acquiring an additional 818,241 shares in the last quarter. Reinhart Partners LLC. raised its stake in AdaptHealth by 1.4% in the 2nd quarter. Reinhart Partners LLC. now owns 4,269,303 shares of the company’s stock valued at $42,693,000 after acquiring an additional 59,092 shares during the period. Dimensional Fund Advisors LP increased its position in shares of AdaptHealth by 43.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,327,738 shares of the company’s stock valued at $23,277,000 after buying an additional 710,131 shares during the period. Divisadero Street Capital Management LP increased its position in shares of AdaptHealth by 179.7% during the second quarter. Divisadero Street Capital Management LP now owns 1,161,592 shares of the company’s stock valued at $11,616,000 after buying an additional 746,340 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of AdaptHealth by 21.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,040,947 shares of the company’s stock worth $7,589,000 after purchasing an additional 183,135 shares during the last quarter. 82.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price target on shares of AdaptHealth in a research note on Monday, August 12th. 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.70.

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.