AdaptHealth Corp. (NASDAQ:AHCO) Short Interest Update

AdaptHealth Corp. (NASDAQ:AHCO) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 10,290,000 shares, a growth of 14.8% from the September 15th total of 8,960,000 shares. Currently, 12.4% of the company’s shares are sold short. Based on an average trading volume of 1,120,000 shares, the days-to-cover ratio is currently 9.2 days.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, COO Shaw Rietkerk sold 25,000 shares of the business’s 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 completion of the sale, the chief operating officer now directly owns 212,611 shares of the company’s stock, valued at approximately $2,389,747.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Shaw Rietkerk sold 25,000 shares of AdaptHealth stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 212,611 shares of the company’s stock, valued at approximately $2,389,747.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Solomon Williams III sold 4,000 shares of the stock in a transaction that occurred 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 directly owns 36,899 shares in the company, valued at approximately $415,482.74. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.43% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 1,683 shares during the last quarter. Covestor Ltd grew its stake in AdaptHealth by 279.6% during the 1st quarter. Covestor Ltd now owns 3,109 shares of the company’s stock worth $36,000 after buying an additional 2,290 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in AdaptHealth during the 2nd quarter valued at about $58,000. Blue Trust Inc. purchased a new stake in AdaptHealth in the second quarter valued at about $85,000. Finally, Innealta Capital LLC acquired a new stake in AdaptHealth in the second quarter worth about $101,000. Institutional investors own 82.67% of the company’s stock.

AdaptHealth Trading Up 5.6 %

Shares of NASDAQ:AHCO opened at $10.58 on Wednesday. The company has a market capitalization of $1.41 billion, a PE ratio of -2.01, a P/E/G ratio of 1.60 and a beta of 1.10. The company has a current ratio of 1.15, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38. AdaptHealth has a 12-month low of $6.37 and a 12-month high of $11.90. The business’s fifty day simple moving average is $10.59 and its 200-day simple moving average is $10.40.

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