Investors Buy High Volume of Put Options on AdaptHealth (NASDAQ:AHCO)

AdaptHealth Corp. (NASDAQ:AHCO) saw some unusual options trading on Tuesday. Stock investors acquired 4,503 put options on the stock. This represents an increase of 53% compared to the typical volume of 2,939 put options.

Institutional Investors Weigh In On AdaptHealth

A number of large investors have recently added to or reduced their stakes in the company. Assetmark Inc. acquired a new stake in AdaptHealth during the 4th quarter valued at approximately $28,000. Blue Trust Inc. lifted its stake in AdaptHealth by 24.1% in the fourth quarter. Blue Trust Inc. now owns 5,746 shares of the company’s stock valued at $55,000 after buying an additional 1,115 shares during the last quarter. Quarry LP lifted its position in AdaptHealth by 4,596.9% in the 3rd quarter. Quarry LP now owns 5,965 shares of the company’s stock valued at $67,000 after purchasing an additional 5,838 shares during the last quarter. CIBC Asset Management Inc acquired a new position in AdaptHealth during the 3rd quarter worth $122,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of AdaptHealth by 15.4% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,663 shares of the company’s stock worth $121,000 after acquiring an additional 1,690 shares during the period. 82.67% of the stock is owned by institutional investors and hedge funds.

AdaptHealth Price Performance

Shares of NASDAQ AHCO opened at $10.64 on Wednesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.00. AdaptHealth has a 1-year low of $7.25 and a 1-year high of $11.90. The business has a 50-day moving average of $9.84 and a 200-day moving average of $10.20. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -6.45, a PEG ratio of 1.08 and a beta of 1.12.

Analyst Upgrades and Downgrades

Several research firms recently commented on AHCO. Truist Financial dropped their target price on AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Robert W. Baird lowered their price objective on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Royal Bank of Canada reduced their target price on AdaptHealth from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Canaccord Genuity Group dropped their price target on AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, UBS Group cut their price objective on AdaptHealth from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $12.20.

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.