AdaptHealth (NASDAQ:AHCO) Stock Price Down 3.4%

AdaptHealth Corp. (NASDAQ:AHCO)’s share price was down 3.4% during trading on Tuesday . The company traded as low as $10.73 and last traded at $10.73. Approximately 214,012 shares were traded during trading, a decline of 81% from the average daily volume of 1,110,892 shares. The stock had previously closed at $11.11.

Wall Street Analysts Forecast Growth

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

AdaptHealth Stock Down 4.5 %

The company has a debt-to-equity ratio of 1.38, a current ratio of 1.15 and a quick ratio of 0.94. The firm has a 50-day simple moving average of $10.76 and a two-hundred day simple moving average of $10.44. The company has a market cap of $1.41 billion, a PE ratio of -2.05, a P/E/G ratio of 1.75 and a beta of 1.10.

AdaptHealth (NASDAQ:AHCO) last released its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $802.62 million. During the same quarter last year, the company posted $0.16 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. Research analysts anticipate that AdaptHealth Corp. will post 0.87 earnings per share for the current fiscal year.

Insider Activity at AdaptHealth

In related news, Director David Solomon Williams III sold 4,000 shares of AdaptHealth stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $11.26, for a total transaction of $45,040.00. Following the transaction, the director now owns 36,899 shares in the company, valued at approximately $415,482.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Texas Permanent School Fund Corp increased its holdings in 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 purchasing an additional 979 shares during the last quarter. Cornercap Investment Counsel Inc. increased its position in shares of AdaptHealth by 2.8% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 46,706 shares of the company’s stock worth $467,000 after purchasing an additional 1,254 shares during the last quarter. ProShare Advisors LLC increased its holdings in 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 buying an additional 1,338 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in AdaptHealth by 6.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 24,504 shares of the company’s stock valued at $179,000 after buying an additional 1,382 shares in the last quarter. Finally, SummerHaven Investment Management LLC grew its position in shares of AdaptHealth by 2.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 57,645 shares of the company’s stock worth $576,000 after acquiring an additional 1,503 shares in the last quarter. 82.67% of the stock is currently owned by hedge funds and other 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.