AdaptHealth (NASDAQ:AHCO) Director Purchases $149,930.00 in Stock

Key Points

• Director Kenneth Samet purchased 23,500 AdaptHealth shares at an average price of $6.38, investing $149,930 and increasing his ownership by 93.74% to 48,569 shares.
• AdaptHealth shares fell 8.3% to $5.22, near the company’s one-year low, while trading volume reached more than twice its average.
• Despite the stock’s decline, analysts maintain a consensus “Moderate Buy” rating with an average price target of $10.29; institutional investors own 82.67% of the company.

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) Director Kenneth Samet acquired 23,500 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was purchased at an average price of $6.38 per share, with a total value of $149,930.00. Following the transaction, the director owned 48,569 shares in the company, valued at $309,870.22. This represents a 93.74% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

AdaptHealth Trading Down 8.3%

AHCO stock traded down $0.47 during midday trading on Monday, hitting $5.22. 7,441,760 shares of the company's stock were exchanged, compared to its average volume of 3,114,178. The stock's fifty day moving average price is $9.87 and its 200-day moving average price is $10.52. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.98 and a current ratio of 1.12. The company has a market cap of $709.45 million, a PE ratio of -3.05, a price-to-earnings-growth ratio of 0.29 and a beta of 1.47. AdaptHealth Corp. has a one year low of $5.21 and a one year high of $13.43.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Rockefeller Capital Management L.P. lifted its stake in AdaptHealth by 433.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company's stock valued at $26,000 after acquiring an additional 2,100 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of AdaptHealth by 22.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company's stock worth $70,000 after acquiring an additional 1,279 shares in the last quarter. Assetmark Inc. grew its stake in shares of AdaptHealth by 54.8% during the 1st quarter. Assetmark Inc. now owns 6,952 shares of the company's stock worth $83,000 after acquiring an additional 2,460 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of AdaptHealth by 318.0% in the second 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 during the last quarter. Finally, Tidal Investments LLC acquired a new stake in shares of AdaptHealth in the second quarter valued at approximately $96,000. 82.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AHCO has been the subject of several research analyst reports. UBS Group decreased their price objective on AdaptHealth from $14.00 to $10.00 and set a "buy" rating for the company in a research report on Thursday. Truist Financial dropped their target price on shares of AdaptHealth from $14.00 to $9.00 and set a "buy" rating on the stock in a report on Wednesday, August 5th. Jefferies Financial Group raised shares of AdaptHealth from a "hold" rating to a "buy" rating and lifted their price target for the company from $11.00 to $13.00 in a research note on Tuesday, July 21st. Weiss Ratings reiterated a "sell (d)" rating on shares of AdaptHealth in a report on Friday, May 22nd. Finally, Robert W. Baird set a $10.00 price objective on shares of AdaptHealth in a report on Wednesday, August 5th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, AdaptHealth has a consensus rating of "Moderate Buy" and an average price target of $10.29.

About AdaptHealth

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.

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