AdaptHealth (NASDAQ:AHCO) Trading Up 10.5% on Insider Buying Activity

Key Points

• AdaptHealth shares jumped 10.5% to approximately $5.77 after director Kenneth A. Samet purchased 23,500 shares for nearly $150,000, increasing his holdings by 93.7%.
• Analyst sentiment remains mixed but leans positive: seven analysts rate the stock a Buy, with an average target price of $10.29 versus its current price and an overall “Moderate Buy” consensus.
• Institutional ownership is substantial at 82.67%, with several hedge funds and investment managers recently increasing their stakes in the home medical equipment provider.

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report)'s stock price shot up 10.5% during mid-day trading on Tuesday following insider buying activity. The stock traded as high as $5.80 and last traded at $5.7690. Approximately 1,041,900 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 1,633,719 shares. The stock had previously closed at $5.22.

Specifically, Director Kenneth A. Samet acquired 23,500 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The shares were purchased at an average price of $6.38 per share, with a total value of $149,930.00. Following the completion of the acquisition, the director owned 48,569 shares in the company, valued at approximately $309,870.22. This represents a 93.74% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AHCO shares. UBS Group dropped their target price on shares of AdaptHealth from $14.00 to $10.00 and set a "buy" rating for the company in a report on Thursday. Jefferies Financial Group raised AdaptHealth from a "hold" rating to a "buy" rating and raised their price objective for the company from $11.00 to $13.00 in a research note on Tuesday, July 21st. Wall Street Zen cut AdaptHealth from a "buy" rating to a "hold" rating in a report on Saturday. Canaccord Genuity Group set a $10.00 target price on AdaptHealth in a research report on Wednesday, August 5th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of AdaptHealth in a report on Friday, May 22nd. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $10.29.

AdaptHealth Trading Up 11.2%

The business has a 50-day moving average of $9.87 and a 200 day moving average of $10.52. The stock has a market cap of $788.96 million, a PE ratio of -3.39, a PEG ratio of 0.29 and a beta of 1.47. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.98 and a current ratio of 1.12.

Hedge Funds Weigh In On AdaptHealth

Several institutional investors and hedge funds have recently modified their holdings of AHCO. Kennedy Capital Management LLC lifted its stake in AdaptHealth by 15.2% during the fourth quarter. Kennedy Capital Management LLC now owns 2,408,038 shares of the company's stock worth $23,984,000 after purchasing an additional 317,900 shares during the last quarter. Reinhart Partners LLC. raised its holdings in shares of AdaptHealth by 10.6% during the fourth quarter. Reinhart Partners LLC. now owns 8,100,785 shares of the company's stock worth $80,684,000 after purchasing an additional 773,727 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of AdaptHealth by 87.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 847,085 shares of the company's stock worth $10,080,000 after purchasing an additional 395,668 shares during the period. Principal Financial Group Inc. lifted its position in shares of AdaptHealth by 25.1% in the 1st quarter. Principal Financial Group Inc. now owns 2,784,316 shares of the company's stock worth $33,133,000 after buying an additional 558,357 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. bought a new position in shares of AdaptHealth in the 4th quarter worth about $614,000. Hedge funds and other institutional investors own 82.67% of the company's stock.

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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