AdaptHealth Corp. (NASDAQ:AHCO) Short Interest Up 12.0% in September

AdaptHealth Corp. (NASDAQ:AHCO) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 8,960,000 shares, a growth of 12.0% from the August 31st total of 8,000,000 shares. Approximately 10.8% of the company’s stock are short sold. Based on an average daily trading volume, of 1,210,000 shares, the short-interest ratio is currently 7.4 days.

AdaptHealth Price Performance

AHCO opened at $11.13 on Friday. AdaptHealth has a 1-year low of $6.37 and a 1-year high of $11.90. The company has a 50-day moving average of $10.73 and a 200-day moving average of $10.44. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.15. The company has a market capitalization of $1.48 billion, a P/E ratio of -2.11, a PEG ratio of 1.73 and a beta of 1.10.

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

Insider Buying and Selling

In related news, COO Shaw Rietkerk sold 25,000 shares of AdaptHealth stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.24, for a total transaction of $281,000.00. Following the sale, the chief operating officer now owns 212,611 shares of the company’s stock, valued at approximately $2,389,747.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Shaw Rietkerk sold 25,000 shares of AdaptHealth stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.24, for a total transaction of $281,000.00. Following the sale, the chief operating officer now owns 212,611 shares of the company’s stock, valued at approximately $2,389,747.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Solomon Williams III sold 4,000 shares of AdaptHealth stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $11.26, for a total transaction of $45,040.00. Following the sale, the director now directly owns 36,899 shares in the company, valued at approximately $415,482.74. The disclosure for this sale can be found here. 4.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AHCO. Vanguard Group Inc. boosted its holdings in shares of AdaptHealth by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock valued at $115,304,000 after buying an additional 818,241 shares during the period. Divisadero Street Capital Management LP boosted its holdings in shares of AdaptHealth by 179.7% in the 2nd quarter. Divisadero Street Capital Management LP now owns 1,161,592 shares of the company’s stock valued at $11,616,000 after buying an additional 746,340 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of AdaptHealth by 43.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,327,738 shares of the company’s stock valued at $23,277,000 after buying an additional 710,131 shares during the period. Peregrine Capital Management LLC acquired a new position in AdaptHealth during the 1st quarter valued at about $6,253,000. Finally, Foundry Partners LLC acquired a new position in AdaptHealth during the 2nd quarter valued at about $4,706,000. 82.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.