AdaptHealth Corp. (NASDAQ:AHCO) Sees Large Increase in Short Interest

AdaptHealth Corp. (NASDAQ:AHCO) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 8,000,000 shares, a growth of 6.2% from the August 15th total of 7,530,000 shares. Currently, 9.7% of the shares of the company are sold short. Based on an average daily trading volume, of 1,110,000 shares, the short-interest ratio is presently 7.2 days.

AdaptHealth Stock Down 1.4 %

AHCO opened at $11.33 on Thursday. The company has a fifty day moving average price of $10.73 and a 200-day moving average price of $10.43. The firm has a market capitalization of $1.51 billion, a P/E ratio of -2.15, a price-to-earnings-growth ratio of 1.75 and a beta of 1.10. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.15 and a quick ratio of 0.94. AdaptHealth has a one year low of $6.37 and a one year high of $11.90.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 EPS 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 firm had revenue of $805.98 million for the quarter, compared to analysts’ expectations of $802.62 million. During the same quarter last year, the firm earned $0.16 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities research analysts expect that AdaptHealth 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 that occurred on Thursday, August 29th. The shares were 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.43% of the stock is owned by company insiders.

Institutional Trading of AdaptHealth

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in shares of AdaptHealth by 197.1% during the 1st quarter. GAMMA Investing LLC now owns 2,537 shares of the company’s stock worth $29,000 after acquiring an additional 1,683 shares during the last quarter. Covestor Ltd lifted its holdings in shares of AdaptHealth by 279.6% during the 1st quarter. Covestor Ltd now owns 3,109 shares of the company’s stock worth $36,000 after acquiring an additional 2,290 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of AdaptHealth during the 2nd quarter worth $58,000. Blue Trust Inc. bought a new stake in shares of AdaptHealth during the 2nd quarter worth $85,000. Finally, Innealta Capital LLC bought a new stake in shares of AdaptHealth during the 2nd quarter worth $101,000. 82.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price objective on shares of AdaptHealth in a research note on Monday, August 12th. One 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.