AdaptHealth (NASDAQ:AHCO) Shares Up 5.3%

AdaptHealth Corp. (NASDAQ:AHCO) shot up 5.3% on Monday . The company traded as high as $11.50 and last traded at $11.49. 653,092 shares were traded during trading, a decline of 39% from the average session volume of 1,077,151 shares. The stock had previously closed at $10.91.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada restated an “outperform” rating and issued a $13.00 target price on shares of AdaptHealth in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.70.

AdaptHealth Trading Up 4.9 %

The company has a quick ratio of 0.94, a current ratio of 1.15 and a debt-to-equity ratio of 1.38. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -2.07, a price-to-earnings-growth ratio of 1.75 and a beta of 1.10. The company’s 50-day moving average is $10.62 and its 200 day moving average is $10.41.

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

Insiders Place Their Bets

In related news, Director David Solomon Williams III sold 4,000 shares of the firm’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 transaction, the director now directly owns 36,899 shares of the company’s stock, valued at approximately $415,482.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in AdaptHealth by 8.9% during the first quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock worth $115,304,000 after buying an additional 818,241 shares in the last quarter. Divisadero Street Capital Management LP boosted its position in shares of AdaptHealth by 179.7% during the 2nd quarter. Divisadero Street Capital Management LP now owns 1,161,592 shares of the company’s stock valued at $11,616,000 after acquiring an additional 746,340 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of AdaptHealth by 43.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,327,738 shares of the company’s stock valued at $23,277,000 after purchasing an additional 710,131 shares during the period. Peregrine Capital Management LLC purchased a new stake in shares of AdaptHealth in the first quarter valued at about $6,253,000. Finally, Foundry Partners LLC acquired a new stake in AdaptHealth during the second quarter worth about $4,706,000. 82.67% of the stock is owned by institutional investors and hedge funds.

AdaptHealth Company Profile

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.