Traders Purchase Large Volume of Put Options on AdaptHealth (NASDAQ:AHCO)

AdaptHealth Corp. (NASDAQ:AHCO) was the recipient of some unusual options trading activity on Tuesday. Stock traders purchased 26,991 put options on the stock. This represents an increase of approximately 570% compared to the average volume of 4,031 put options.

AdaptHealth Trading Down 1.4 %

AHCO stock opened at $11.33 on Thursday. The firm has a fifty day moving average price of $10.73 and a 200 day moving average price of $10.43. AdaptHealth has a fifty-two week low of $6.37 and a fifty-two week high of $11.90. 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 firm has a market cap of $1.51 billion, a PE ratio of -2.15, a price-to-earnings-growth ratio of 1.75 and a beta of 1.10.

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

Insider Activity

In other news, Director David Solomon Williams III sold 4,000 shares of AdaptHealth stock in a transaction that occurred 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 sale, the director now owns 36,899 shares in the company, valued at $415,482.74. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.43% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in AdaptHealth by 197.1% during 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 boosted its stake in AdaptHealth by 279.6% during the first 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 period. Canada Pension Plan Investment Board purchased a new position in AdaptHealth during the second quarter worth $58,000. Blue Trust Inc. purchased a new position in AdaptHealth during the second quarter worth $85,000. Finally, Innealta Capital LLC purchased a new position in AdaptHealth during the second quarter worth $101,000. 82.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price objective 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 assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, AdaptHealth has an average rating of “Hold” and a consensus target price of $10.70.

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.