AdaptHealth Sees Unusually High Options Volume (NASDAQ:AHCO)

AdaptHealth Corp. (NASDAQ:AHCO) saw unusually large options trading activity on Tuesday. Stock traders acquired 26,991 put options on the company. This is an increase of approximately 570% compared to the typical daily volume of 4,031 put options.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price objective 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, AdaptHealth has a consensus rating of “Hold” and an average price target of $10.70.

Insider Transactions at AdaptHealth

In related news, Director David Solomon Williams III sold 4,000 shares of the stock in a transaction on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.43% of the company’s stock.

Institutional Trading of AdaptHealth

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wakefield Asset Management LLLP acquired a new stake in AdaptHealth in the first quarter valued at about $1,007,000. Boston Partners acquired a new position in AdaptHealth during the 1st quarter worth approximately $693,000. Russell Investments Group Ltd. purchased a new position in shares of AdaptHealth during the 1st quarter worth approximately $2,242,000. Reinhart Partners LLC. lifted its holdings in shares of AdaptHealth by 3.6% in the 1st quarter. Reinhart Partners LLC. now owns 4,210,211 shares of the company’s stock valued at $48,460,000 after buying an additional 144,516 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of AdaptHealth in the first quarter valued at approximately $4,240,000. Hedge funds and other institutional investors own 82.67% of the company’s stock.

AdaptHealth Stock Performance

AdaptHealth stock traded up $0.09 during mid-day trading on Tuesday, reaching $11.52. 415,644 shares of the company were exchanged, compared to its average volume of 1,079,319. The firm’s 50-day simple moving average is $10.66 and its two-hundred day simple moving average is $10.42. AdaptHealth has a twelve month low of $6.37 and a twelve month high of $11.90. The firm has a market cap of $1.53 billion, a PE ratio of -2.17, a price-to-earnings-growth ratio of 1.75 and a beta of 1.10. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.15.

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

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.