AdaptHealth (NASDAQ:AHCO) Trading 8.3% Higher Following Insider Buying Activity

Key Points

• Major insider buy: Richard M. Cashin Jr. acquired 447,100 shares at an average price of $9.91 (~$4.43M), boosting his stake to 16,312,698 shares and helping send the stock up about 8.3% intraday to roughly $11.24.
• Earnings miss despite revenue beat: AdaptHealth posted a quarterly loss of ($0.76) per share (missing estimates by $1.10) while reporting revenue of $846.3M, with a negative net margin of -2.18%.
• Mixed analyst outlook but consensus slightly positive: Analysts are split (four Buys, one Hold, one Sell) with a MarketBeat consensus of "Moderate Buy" and an average price target of $13.25.

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) shares were up 8.3% during mid-day trading on Tuesday after an insider bought additional shares in the company. The stock traded as high as $11.13 and last traded at $11.2350. Approximately 450,296 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 1,247,154 shares. The stock had previously closed at $10.37.

Specifically, major shareholder Richard M. Cashin, Jr. acquired 447,100 shares of the business's stock in a transaction on Friday, March 20th. The stock was purchased at an average price of $9.91 per share, for a total transaction of $4,430,761.00. Following the completion of the transaction, the insider owned 16,312,698 shares of the company's stock, valued at $161,658,837.18. The trade was a 2.82% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Weiss Ratings downgraded AdaptHealth from a "hold (c-)" rating to a "sell (d)" rating in a report on Wednesday, February 25th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $13.00 price target on shares of AdaptHealth in a report on Wednesday, February 25th. Zacks Research raised shares of AdaptHealth from a "strong sell" rating to a "hold" rating in a report on Thursday, January 1st. Leerink Partners dropped their price target 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. Finally, Wall Street Zen lowered shares of AdaptHealth from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $13.25.

AdaptHealth Stock Up 8.8%

The firm has a market cap of $1.53 billion, a P/E ratio of -20.44, a price-to-earnings-growth ratio of 1.14 and a beta of 1.76. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 1.15. The firm's 50 day moving average is $10.09 and its two-hundred day moving average is $9.72.

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

Institutional Trading of AdaptHealth

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AHCO. Exchange Traded Concepts LLC bought a new stake in shares of AdaptHealth during the third quarter valued at about $1,171,000. Bastion Asset Management Inc. purchased a new position in AdaptHealth in the third quarter worth about $4,199,000. Kennedy Capital Management LLC lifted its stake in AdaptHealth by 48.8% during the 3rd quarter. Kennedy Capital Management LLC now owns 2,090,138 shares of the company's stock valued at $18,707,000 after acquiring an additional 685,554 shares during the period. Public Sector Pension Investment Board boosted its holdings in shares of AdaptHealth by 16.3% in the third quarter. Public Sector Pension Investment Board now owns 418,231 shares of the company's stock worth $3,743,000 after buying an additional 58,487 shares during the last quarter. Finally, CSM Advisors LLC increased its holdings in AdaptHealth by 13.8% in the 3rd quarter. CSM Advisors LLC now owns 742,335 shares of the company's stock worth $6,645,000 after acquiring an additional 90,258 shares in the last quarter. 82.67% of the stock is owned by institutional investors.

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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