Short Interest in AdaptHealth Corp. (NASDAQ:AHCO) Declines By 11.4%

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) was the target of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 7,270,000 shares, a decline of 11.4% from the March 31st total of 8,210,000 shares. Based on an average trading volume of 1,140,000 shares, the days-to-cover ratio is currently 6.4 days. Currently, 10.3% of the shares of the stock are short sold.

Insider Buying and Selling

In related news, major shareholder James E. Flynn sold 52,487 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $10.93, for a total value of $573,682.91. Following the completion of the transaction, the insider now owns 11,826,376 shares in the company, valued at approximately $129,262,289.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other AdaptHealth news, major shareholder James E. Flynn sold 52,487 shares of the business's stock in a transaction on Friday, March 8th. The shares were sold at an average price of $10.93, for a total transaction of $573,682.91. Following the sale, the insider now directly owns 11,826,376 shares of the company's stock, valued at approximately $129,262,289.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder James E. Flynn sold 182,607 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $11.02, for a total value of $2,012,329.14. Following the completion of the sale, the insider now owns 11,643,769 shares of the company's stock, valued at approximately $128,314,334.38. The disclosure for this sale can be found here. Insiders own 13.60% of the company's stock.

Institutional Trading of AdaptHealth

A number of institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in AdaptHealth by 197.1% in the 1st quarter. GAMMA Investing LLC now owns 2,537 shares of the company's stock worth $29,000 after acquiring an additional 1,683 shares during the period. Oak Thistle LLC bought a new position in shares of AdaptHealth in the third quarter worth about $94,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of AdaptHealth during the 3rd quarter worth about $100,000. Raymond James & Associates bought a new stake in AdaptHealth during the 3rd quarter valued at approximately $101,000. Finally, Everence Capital Management Inc. bought a new stake in AdaptHealth during the 4th quarter valued at approximately $102,000. 82.67% of the stock is currently owned by institutional investors and hedge funds.

AdaptHealth Stock Up 4.0 %

AdaptHealth stock traded up $0.38 during mid-day trading on Friday, hitting $9.96. 1,053,761 shares of the company's stock were exchanged, compared to its average volume of 821,990. AdaptHealth has a 1-year low of $6.37 and a 1-year high of $15.37. The stock has a 50 day moving average of $10.05 and a two-hundred day moving average of $8.44. The stock has a market cap of $1.32 billion, a P/E ratio of -1.88, a P/E/G ratio of 0.65 and a beta of 1.02. The company has a current ratio of 1.21, a quick ratio of 1.00 and a debt-to-equity ratio of 1.44.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.44. AdaptHealth had a positive return on equity of 8.84% and a negative net margin of 21.21%. The business had revenue of $858.23 million for the quarter, compared to the consensus estimate of $825.94 million. As a group, analysts anticipate that AdaptHealth will post 0.88 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on AHCO. UBS Group boosted their price objective on shares of AdaptHealth from $9.00 to $13.00 and gave the company a "buy" rating in a research report on Wednesday, February 28th. Jefferies Financial Group lowered AdaptHealth from a "buy" rating to a "hold" rating and cut their price objective for the stock from $14.50 to $8.00 in a report on Monday, January 8th. Truist Financial lifted their price objective on AdaptHealth from $11.00 to $13.00 and gave the company a "buy" rating in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $13.00 target price on shares of AdaptHealth in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $12.10.

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.