AdaptHealth Corp. (NASDAQ:AHCO) Sees Significant Growth in Short Interest

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) was the recipient of a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 7,990,000 shares, an increase of 9.9% from the April 15th total of 7,270,000 shares. Based on an average daily trading volume, of 1,230,000 shares, the days-to-cover ratio is currently 6.5 days. Currently, 11.3% of the shares of the company are sold short.

Analyst Ratings Changes

Several equities analysts recently issued reports on AHCO shares. Royal Bank of Canada restated an "outperform" rating and set a $13.00 price target on shares of AdaptHealth in a research note on Monday, March 4th. Truist Financial reissued a "buy" rating and set a $13.00 price target on shares of AdaptHealth in a research note on Wednesday. Finally, UBS Group lifted their price target on shares of AdaptHealth from $9.00 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $12.42.

Insider Buying and Selling

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

Institutional Trading of AdaptHealth

Several institutional investors and hedge funds have recently bought and sold shares of the business. Texas Permanent School Fund Corp increased its holdings in shares of AdaptHealth by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 71,201 shares of the company's stock worth $820,000 after acquiring an additional 979 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of AdaptHealth by 7.6% in the first quarter. ProShare Advisors LLC now owns 18,994 shares of the company's stock valued at $219,000 after purchasing an additional 1,338 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of AdaptHealth by 6.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 24,504 shares of the company's stock valued at $179,000 after purchasing an additional 1,382 shares during the period. SummerHaven Investment Management LLC lifted its stake in shares of AdaptHealth by 2.6% during the 4th quarter. SummerHaven Investment Management LLC now owns 54,754 shares of the company's stock worth $399,000 after buying an additional 1,411 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of AdaptHealth by 197.1% during the 1st quarter. GAMMA Investing LLC now owns 2,537 shares of the company's stock worth $29,000 after buying an additional 1,683 shares during the period. Institutional investors own 82.67% of the company's stock.

AdaptHealth Stock Up 0.1 %

Shares of AdaptHealth stock traded up $0.01 on Wednesday, reaching $9.84. 692,779 shares of the company were exchanged, compared to its average volume of 1,112,801. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -1.88, a PEG ratio of 0.73 and a beta of 1.06. The company has a current ratio of 1.33, a quick ratio of 1.11 and a debt-to-equity ratio of 1.48. AdaptHealth has a one year low of $6.37 and a one year high of $15.37. The company has a 50-day moving average of $10.30 and a 200 day moving average of $8.65.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.44. The firm had revenue of $858.23 million during the quarter, compared to analysts' expectations of $825.94 million. AdaptHealth had a negative net margin of 21.45% and a positive return on equity of 8.47%. On average, equities research analysts forecast that AdaptHealth will post 0.8 earnings per share for the current year.

AdaptHealth Company Profile

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.