AdaptHealth (NASDAQ:AHCO) Shares Gap Down to $10.60

Shares of AdaptHealth Corp. (NASDAQ:AHCO) gapped down prior to trading on Tuesday . The stock had previously closed at $10.60, but opened at $9.16. AdaptHealth shares last traded at $9.69, with a volume of 311,103 shares changing hands.

Analyst Ratings Changes

Several research analysts recently weighed in on AHCO shares. UBS Group boosted their price target on shares of AdaptHealth from $9.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Truist Financial boosted their target price on AdaptHealth from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price target on shares of AdaptHealth in a research 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.10.

AdaptHealth Stock Down 5.2 %

The stock’s 50-day moving average price is $10.37 and its two-hundred day moving average price is $8.58. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $1.22 billion, a P/E ratio of -1.74, a P/E/G ratio of 0.67 and a beta of 1.06.

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

Insider Buying and Selling

In other AdaptHealth news, major shareholder James E. Flynn sold 52,487 shares of the company’s stock in a transaction dated 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 directly owns 11,826,376 shares of the company’s stock, valued at $129,262,289.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder James E. Flynn sold 52,487 shares of the company’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 sale, the insider now directly owns 11,826,376 shares in the company, valued at $129,262,289.68. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder James E. Flynn sold 182,607 shares of the stock in a transaction dated Monday, March 11th. The stock was 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 currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Deerfield Management Company L.P. Series C boosted its stake 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 valued at $123,832,000 after buying an additional 2,513,026 shares during the period. First Eagle Investment Management LLC boosted its position in shares of AdaptHealth by 88.7% during the 3rd 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 during the last quarter. Federated Hermes Inc. grew its holdings in shares of AdaptHealth by 672.8% during the fourth quarter. Federated Hermes Inc. now owns 705,125 shares of the company’s stock worth $5,140,000 after purchasing an additional 613,882 shares in the last quarter. Charles Schwab Investment Management Inc. increased 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 worth $7,806,000 after purchasing an additional 170,923 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new stake in AdaptHealth in the third quarter valued at approximately $809,000. 82.67% of the stock is currently owned by hedge funds and other institutional investors.

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.