AdaptHealth (NASDAQ:AHCO) Major Shareholder Acquires $4,430,761.00 in Stock

Key Points

• Richard Cashin, Jr., a major shareholder, purchased 447,100 shares at an average of $9.91 (totaling $4,430,761), raising his stake to about 16.31 million shares — a 2.82% increase disclosed in an SEC filing.
• Shares traded at $10.37 on Monday with 50/200-day moving averages of $10.10/$9.72; the company has a market cap of roughly $1.41 billion, a P/E of 26.78, and a one-year trading range of $7.11–$11.17.
• AdaptHealth missed quarterly EPS (‑$0.76 vs. $0.34 estimate) despite revenue of $846.3M slightly above estimates and down 1.2% YoY, while analysts collectively rate the stock a "Moderate Buy" with an average price target of $13.25.

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) major shareholder Richard Cashin, Jr. bought 447,100 shares of the company's stock in a transaction dated Friday, March 20th. The stock was bought at an average cost of $9.91 per share, for a total transaction of $4,430,761.00. Following the acquisition, the insider owned 16,312,698 shares of the company's stock, valued at approximately $161,658,837.18. This trade represents a 2.82% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

AdaptHealth Price Performance

Shares of NASDAQ AHCO traded up $0.46 during trading on Monday, hitting $10.37. 1,591,804 shares of the company were exchanged, compared to its average volume of 1,844,172. The firm's fifty day moving average price is $10.10 and its 200 day moving average price is $9.72. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.02 and a quick ratio of 0.81. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 1.14 and a beta of 1.76. AdaptHealth Corp. has a 1 year low of $7.11 and a 1 year high of $11.17.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of $0.34 by ($1.10). AdaptHealth had a negative net margin of 2.18% and a positive return on equity of 3.42%. The business had revenue of $846.29 million during the quarter, compared to analyst estimates of $832.51 million. During the same quarter in the prior year, the company earned $0.34 earnings per share. The firm's revenue for the quarter was down 1.2% compared to the same quarter last year. On average, sell-side analysts expect that AdaptHealth Corp. will post 0.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AdaptHealth

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. lifted its position in shares of AdaptHealth by 433.0% during 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 during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of AdaptHealth in the 3rd quarter worth $35,000. PNC Financial Services Group Inc. raised its position in shares of AdaptHealth by 22.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company's stock worth $70,000 after purchasing an additional 1,279 shares during the period. Tower Research Capital LLC TRC raised its position in shares of AdaptHealth by 318.0% during the second quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company's stock worth $90,000 after purchasing an additional 7,297 shares during the period. Finally, Tidal Investments LLC purchased a new stake in shares of AdaptHealth during the second quarter valued at $96,000. 82.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on AHCO. Zacks Research raised AdaptHealth from a "strong sell" rating to a "hold" rating in a research report on Thursday, January 1st. Wall Street Zen cut shares of AdaptHealth from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Leerink Partners reduced their price objective on shares of AdaptHealth from $13.00 to $12.00 and set an "outperform" rating on the stock in a research note on Thursday, February 26th. Weiss Ratings lowered shares of AdaptHealth from a "hold (c-)" rating to a "sell (d)" rating in a report on Wednesday, February 25th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $13.00 target price on shares of AdaptHealth in a research report on Wednesday, February 25th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $13.25.

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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