AdaptHealth (NASDAQ:AHCO) Trading Up 4.2% After Insider Buying Activity

Shares of AdaptHealth Corp. (NASDAQ:AHCOGet Rating) were up 4.2% during mid-day trading on Wednesday after an insider bought additional shares in the company. The company traded as high as $18.50 and last traded at $18.30. Approximately 5,992 shares traded hands during trading, a decline of 99% from the average daily volume of 953,054 shares. The stock had previously closed at $17.57.

Specifically, Director Skyknight Capital Fund Ii, L.P acquired 9,300 shares of the business’s stock in a transaction dated Monday, May 23rd. The shares were acquired at an average cost of $17.44 per share, for a total transaction of $162,192.00. Following the acquisition, the director now directly owns 2,793,843 shares in the company, valued at approximately $48,724,621.92. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Aero Holdings Ii Ll Skyknight acquired 100,000 shares of the business’s stock in a transaction dated Thursday, June 16th. The shares were bought at an average price of $16.78 per share, for a total transaction of $1,678,000.00. Following the completion of the acquisition, the director now owns 200,000 shares in the company, valued at $3,356,000. The disclosure for this purchase can be found here. Insiders have acquired a total of 350,390 shares of company stock worth $6,016,723 over the last ninety days. 17.30% of the stock is owned by corporate insiders.

AHCO has been the topic of several research reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of AdaptHealth from $28.00 to $22.00 in a report on Wednesday, May 11th. SVB Leerink cut their price target on shares of AdaptHealth from $32.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, March 2nd. Royal Bank of Canada cut their price target on shares of AdaptHealth from $31.00 to $26.00 and set an “outperform” rating on the stock in a report on Tuesday, March 8th. TheStreet lowered shares of AdaptHealth from a “c-” rating to a “d+” rating in a report on Friday, April 29th. Finally, Robert W. Baird cut their price target on shares of AdaptHealth from $34.00 to $26.00 in a report on Friday, February 25th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $24.00.

The company has a market cap of $2.47 billion, a PE ratio of 33.40, a price-to-earnings-growth ratio of 0.25 and a beta of 0.44. The business’s 50 day moving average price is $16.09 and its 200-day moving average price is $17.77. The company has a quick ratio of 1.16, a current ratio of 1.39 and a debt-to-equity ratio of 1.03.

AdaptHealth (NASDAQ:AHCOGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.23). AdaptHealth had a return on equity of 7.77% and a net margin of 7.54%. The company had revenue of $706.20 million for the quarter, compared to analyst estimates of $646.42 million. During the same period in the previous year, the business posted $0.17 EPS. The firm’s quarterly revenue was up 46.5% compared to the same quarter last year. Equities analysts expect that AdaptHealth Corp. will post 1.47 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd acquired a new stake in shares of AdaptHealth during the fourth quarter worth approximately $35,000. Nisa Investment Advisors LLC boosted its holdings in AdaptHealth by 96.6% in the first quarter. Nisa Investment Advisors LLC now owns 1,710 shares of the company’s stock worth $27,000 after purchasing an additional 840 shares during the period. Advisor Group Holdings Inc. boosted its holdings in AdaptHealth by 306.5% in the fourth quarter. Advisor Group Holdings Inc. now owns 3,000 shares of the company’s stock worth $73,000 after purchasing an additional 2,262 shares during the period. Group One Trading L.P. boosted its holdings in 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 purchasing an additional 2,132 shares during the period. Finally, Islay Capital Management LLC acquired a new position in AdaptHealth in the fourth quarter worth $124,000. 83.68% of the stock is owned by institutional investors and hedge funds.

AdaptHealth Company Profile (NASDAQ:AHCO)

AdaptHealth Corp., together with its subsidiaries, provides 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 to patients 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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