AdaptHealth (NASDAQ:AHCO) Stock Price Down 4.5%

AdaptHealth Corp. (NASDAQ:AHCO) traded down 4.5% during 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.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Jefferies Financial Group lowered AdaptHealth from a “buy” rating to a “hold” rating and dropped their target price for the company from $14.50 to $8.00 in a research report on Monday, January 8th. UBS Group upped their target price on AdaptHealth from $9.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 target price on shares of AdaptHealth in a research report on Monday, March 4th. Finally, Truist Financial upped their target price on AdaptHealth from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.10.

AdaptHealth Price Performance

The stock has a fifty day simple moving average of $9.78 and a 200-day simple moving average of $8.38. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.21 and a quick ratio of 1.00.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.64 earnings per share (EPS) 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 company had revenue of $858.23 million during the quarter, compared to the consensus estimate of $825.94 million. On average, sell-side analysts anticipate that AdaptHealth Corp. will post 0.88 EPS for the current year.

Insider Buying and Selling at AdaptHealth

In other AdaptHealth news, major shareholder James E. Flynn sold 52,487 shares of the business’s stock in a transaction that occurred 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 directly owns 11,826,376 shares of the company’s stock, valued at $129,262,289.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 stock was 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 directly 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 SEC, which is available at this link. 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 stock was sold at an average price of $10.93, for a total value of $573,682.91. Following the transaction, the insider now directly 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 currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Deerfield Management Company L.P. Series C raised its stake in shares of AdaptHealth by 22.7% during the 3rd quarter. Deerfield Management Company L.P. Series C now owns 13,607,940 shares of the company’s stock worth $123,832,000 after buying an additional 2,513,026 shares during the period. First Eagle Investment Management LLC raised its stake in shares of AdaptHealth by 88.7% during the 3rd quarter. First Eagle Investment Management LLC now owns 410,366 shares of the company’s stock worth $3,734,000 after buying an additional 192,900 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of AdaptHealth by 24.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 857,812 shares of the company’s stock worth $7,806,000 after buying an additional 170,923 shares during the period. Dark Forest Capital Management LP acquired a new position in AdaptHealth in the 3rd quarter valued at $809,000. Finally, Loomis Sayles & Co. L P acquired a new position in AdaptHealth in the 3rd quarter valued at $5,751,000. 82.67% of the stock is owned by institutional investors and hedge funds.

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.