Aristeia Capital L.L.C. Acquires New Position in AdaptHealth Corp. $AHCO

Aristeia Capital L.L.C. purchased a new position in shares of AdaptHealth Corp. (NASDAQ:AHCO) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 75,174 shares of the company’s stock, valued at approximately $749,000.

Other large investors also recently bought and sold shares of the company. FNY Investment Advisers LLC purchased a new position in AdaptHealth during the third quarter worth approximately $35,000. PNC Financial Services Group Inc. grew its holdings in AdaptHealth by 22.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock valued at $70,000 after purchasing an additional 1,279 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in AdaptHealth by 318.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock valued at $90,000 after purchasing an additional 7,297 shares in the last quarter. Tidal Investments LLC acquired a new stake in AdaptHealth during the 2nd quarter valued at $96,000. Finally, CIBC Bancorp USA Inc. acquired a new position in AdaptHealth during the 3rd quarter worth $97,000. Hedge funds and other institutional investors own 82.67% of the company’s stock.

AdaptHealth Stock Down 6.0%

AHCO stock opened at $9.53 on Thursday. AdaptHealth Corp. has a 52-week low of $8.06 and a 52-week high of $13.43. The company’s 50 day simple moving average is $11.21 and its 200-day simple moving average is $10.58. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.92 and a quick ratio of 0.71. The firm has a market capitalization of $1.30 billion, a P/E ratio of -15.37, a P/E/G ratio of 0.51 and a beta of 1.47.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.13). The firm had revenue of $819.80 million for the quarter, compared to analyst estimates of $796.63 million. AdaptHealth had a negative net margin of 2.42% and a positive return on equity of 2.76%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.05) EPS. As a group, equities research analysts anticipate that AdaptHealth Corp. will post 0.44 EPS for the current year.

Analyst Upgrades and Downgrades

AHCO has been the subject of several recent analyst reports. Jefferies Financial Group reissued a “hold” rating and set a $11.00 price objective on shares of AdaptHealth in a report on Monday, April 20th. Canaccord Genuity Group lifted their price objective on shares of AdaptHealth from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of AdaptHealth in a research report on Friday, May 22nd. Robert W. Baird set a $18.00 price target on shares of AdaptHealth in a research report on Wednesday, May 6th. Finally, UBS Group dropped their price target on shares of AdaptHealth from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $14.29.

Insider Activity at AdaptHealth

In other AdaptHealth news, insider Russell E. Schuster III sold 11,275 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $10.06, for a total value of $113,426.50. Following the transaction, the insider owned 136,538 shares in the company, valued at approximately $1,373,572.28. This represents a 7.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Richard M. Cashin, Jr. acquired 447,100 shares of the company’s stock in a transaction on Friday, March 20th. The stock was bought at an average price of $9.91 per share, for a total transaction of $4,430,761.00. Following the purchase, the insider owned 16,312,698 shares in the company, valued at approximately $161,658,837.18. This trade represents a 2.82% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.95% of the stock is currently owned by corporate insiders.

AdaptHealth Company Profile

AdaptHealth, Inc operates as a leading provider of home medical equipment (HME) and related services in the United States. The company focuses on delivering respiratory care, mobility solutions and bathroom safety products to patients with chronic and acute medical needs. Through its comprehensive service offerings, AdaptHealth aims to enhance quality of life and clinical outcomes for patients who require long-term support outside of a hospital setting.

The company’s respiratory portfolio includes products such as continuous positive airway pressure (CPAP) devices, oxygen concentrators, ventilators, and associated supplies for patients with sleep apnea, COPD and other pulmonary conditions.