AdaptHealth (NASDAQ:AHCO) Stock Price Down 4.5%

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) traded down 4.5% during mid-day trading on Wednesday . The company traded as low as $9.09 and last traded at $9.18. 224,600 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 1,086,983 shares. The stock had previously closed at $9.61.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Jefferies Financial Group downgraded shares of AdaptHealth from a "buy" rating to a "hold" rating and reduced their price target for the company from $14.50 to $8.00 in a report on Monday, January 8th. Royal Bank of Canada restated an "outperform" rating and issued a $13.00 target price on shares of AdaptHealth in a report on Monday, March 4th. Truist Financial boosted their target price on shares of AdaptHealth from $11.00 to $13.00 and gave the stock a "buy" rating in a report on Wednesday, February 28th. Finally, UBS Group boosted their target price on shares of AdaptHealth from $9.00 to $13.00 and gave the stock a "buy" rating in a report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, AdaptHealth currently has a consensus rating of "Hold" and an average target price of $12.10.

AdaptHealth Stock Performance

The company has a market capitalization of $1.25 billion, a PE ratio of -1.79, a PEG 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. The firm's 50-day simple moving average is $9.69 and its 200-day simple moving average is $8.36.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.44. AdaptHealth had a negative net margin of 21.21% and a positive return on equity of 8.84%. The firm had revenue of $858.23 million during the quarter, compared to analysts' expectations of $825.94 million. On average, research analysts predict that AdaptHealth Corp. will post 0.88 earnings per share for the current year.

Insider Transactions at AdaptHealth

In other news, major shareholder James E. Flynn sold 182,607 shares of the company's stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder James E. Flynn sold 182,607 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 11,643,769 shares in the company, valued at approximately $128,314,334.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder James E. Flynn sold 52,487 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 11,826,376 shares in the company, valued at approximately $129,262,289.68. The disclosure for this sale can be found here. Corporate insiders own 13.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in AdaptHealth by 197.1% during the first quarter. GAMMA Investing LLC now owns 2,537 shares of the company's stock worth $29,000 after buying an additional 1,683 shares in the last quarter. Quarry LP acquired a new stake in shares of AdaptHealth in the second quarter valued at about $33,000. PNC Financial Services Group Inc. raised its position in shares of AdaptHealth by 653.7% in the second quarter. PNC Financial Services Group Inc. now owns 2,962 shares of the company's stock valued at $36,000 after buying an additional 2,569 shares during the last quarter. Tower Research Capital LLC TRC increased its position in AdaptHealth by 610.0% during the first quarter. Tower Research Capital LLC TRC now owns 3,394 shares of the company's stock worth $42,000 after purchasing an additional 2,916 shares during the last quarter. Finally, Dark Forest Capital Management LP increased its position in AdaptHealth by 31,871.4% during the first quarter. Dark Forest Capital Management LP now owns 4,476 shares of the company's stock worth $56,000 after purchasing an additional 4,462 shares during the last quarter. Institutional investors and hedge funds own 82.67% of the company's stock.

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.