AdaptHealth (NASDAQ:AHCO) Trading Up 5.3%

AdaptHealth Corp. (NASDAQ:AHCO)’s share price rose 5.3% during trading on Monday . The company traded as high as $11.50 and last traded at $11.49. Approximately 653,092 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 1,077,151 shares. The stock had previously closed at $10.91.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 target price on shares of AdaptHealth in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.70.

AdaptHealth Stock Down 1.4 %

The company has a current ratio of 1.15, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38. The stock’s 50 day simple moving average is $10.73 and its 200 day simple moving average is $10.43. The stock has a market capitalization of $1.51 billion, a P/E ratio of -2.15, a P/E/G ratio of 1.75 and a beta of 1.10.

AdaptHealth (NASDAQ:AHCO) last issued its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). AdaptHealth had a positive return on equity of 9.58% and a negative net margin of 21.20%. The business had revenue of $805.98 million during the quarter, compared to the consensus estimate of $802.62 million. During the same period in the prior year, the business earned $0.16 EPS. The business’s revenue was up 1.6% on a year-over-year basis. As a group, research analysts predict that AdaptHealth Corp. will post 0.87 EPS for the current fiscal year.

Insider Buying and Selling at AdaptHealth

In other news, Director David Solomon Williams III sold 4,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $11.26, for a total value of $45,040.00. Following the completion of the transaction, the director now owns 36,899 shares of the company’s stock, valued at $415,482.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On AdaptHealth

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AHCO. GAMMA Investing LLC boosted its holdings in shares of AdaptHealth by 197.1% in 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 during the period. Covestor Ltd raised its position in shares of AdaptHealth by 279.6% in the first quarter. Covestor Ltd now owns 3,109 shares of the company’s stock valued at $36,000 after purchasing an additional 2,290 shares during the period. Canada Pension Plan Investment Board acquired a new position in AdaptHealth during the 2nd quarter worth $58,000. Blue Trust Inc. acquired a new position in shares of AdaptHealth during the 2nd quarter worth about $85,000. Finally, Innealta Capital LLC bought a new stake in shares of AdaptHealth in the second quarter valued at approximately $101,000. 82.67% of the stock is owned by institutional investors.

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.