AdaptHealth Corp. (NASDAQ:AHCO) Short Interest Down 8.9% in June

AdaptHealth Corp. (NASDAQ:AHCO) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totalling 8,100,000 shares, a drop of 8.9% from the May 31st total of 8,890,000 shares. Currently, 9.9% of the company’s stock are short sold. Based on an average trading volume of 1,000,000 shares, the short-interest ratio is presently 8.1 days.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Truist Financial restated a “buy” rating and issued a $13.00 target price on shares of AdaptHealth in a research note on Wednesday, May 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of AdaptHealth in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.42.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Boston Partners bought a new position in AdaptHealth during the first quarter valued at about $693,000. LRI Investments LLC acquired a new position in shares of AdaptHealth in the first quarter valued at $135,000. Bayesian Capital Management LP bought a new position in AdaptHealth in the first quarter worth $418,000. Price T Rowe Associates Inc. MD boosted its stake in AdaptHealth by 8.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 57,874 shares of the company’s stock worth $667,000 after buying an additional 4,575 shares in the last quarter. Finally, Covestor Ltd increased its holdings in AdaptHealth by 279.6% in the 1st quarter. Covestor Ltd now owns 3,109 shares of the company’s stock valued at $36,000 after buying an additional 2,290 shares during the period. Institutional investors and hedge funds own 82.67% of the company’s stock.

AdaptHealth Stock Performance

AHCO opened at $10.00 on Monday. AdaptHealth has a 12-month low of $6.37 and a 12-month high of $15.37. The company has a quick ratio of 1.11, a current ratio of 1.33 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $1.33 billion, a P/E ratio of -1.90, a price-to-earnings-growth ratio of 0.69 and a beta of 1.07. The stock’s 50 day moving average price is $10.19 and its two-hundred day moving average price is $9.17.

AdaptHealth (NASDAQ:AHCO) last announced its earnings results on Tuesday, May 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). AdaptHealth had a positive return on equity of 8.47% and a negative net margin of 21.45%. The company had revenue of $792.50 million for the quarter, compared to the consensus estimate of $771.08 million. On average, equities analysts forecast that AdaptHealth will post 0.82 earnings per share for the current year.

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.