AdaptHealth (NASDAQ:AHCO) Trading Down 4% – Here’s Why

AdaptHealth Corp. (NASDAQ:AHCO) shares fell 4% during mid-day trading on Wednesday . The stock traded as low as $9.76 and last traded at $9.7310. 426,584 shares were traded during trading, a decline of 67% from the average daily volume of 1,308,663 shares. The stock had previously closed at $10.14.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AHCO shares. Royal Bank Of Canada upped their target price on AdaptHealth from $13.00 to $15.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Weiss Ratings reissued a “sell (d)” rating on shares of AdaptHealth in a research report on Friday, May 22nd. Jefferies Financial Group restated a “hold” rating and issued a $11.00 price objective on shares of AdaptHealth in a report on Monday, April 20th. UBS Group dropped their target price on shares of AdaptHealth from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Finally, Canaccord Genuity Group lifted their target price on shares of AdaptHealth from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, AdaptHealth presently has a consensus rating of “Moderate Buy” and an average target price of $14.29.

AdaptHealth Stock Performance

The business has a fifty day simple moving average of $11.16 and a 200-day simple moving average of $10.58. The company has a quick ratio of 0.71, a current ratio of 0.92 and a debt-to-equity ratio of 1.21. The firm has a market cap of $1.31 billion, a P/E ratio of -15.56, a P/E/G ratio of 0.48 and a beta of 1.47.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.13). The firm had revenue of $819.80 million for the quarter, compared to analysts’ expectations of $796.63 million. AdaptHealth had a negative net margin of 2.42% and a positive return on equity of 2.76%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.05) EPS. On average, sell-side analysts predict that AdaptHealth Corp. will post 0.44 EPS for the current fiscal year.

Insider Transactions at AdaptHealth

In related news, insider Russell E. Schuster III sold 11,275 shares of AdaptHealth stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $10.06, for a total transaction of $113,426.50. Following the completion of the transaction, the insider directly owned 136,538 shares of the company’s stock, valued at $1,373,572.28. This trade represents a 7.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.95% of the stock is currently owned by company insiders.

Institutional Trading of AdaptHealth

A number of hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. increased its position in AdaptHealth by 433.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company’s stock valued at $26,000 after buying an additional 2,100 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of AdaptHealth during the third quarter valued at $35,000. Assetmark Inc. raised its position in shares of AdaptHealth by 54.8% in the 1st quarter. Assetmark Inc. now owns 6,952 shares of the company’s stock worth $83,000 after purchasing an additional 2,460 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in AdaptHealth by 22.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock worth $70,000 after purchasing an additional 1,279 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in AdaptHealth by 318.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock worth $90,000 after purchasing an additional 7,297 shares in the last quarter. 82.67% of the stock is owned by institutional investors.

About AdaptHealth

AdaptHealth, Inc operates as a leading provider of home medical equipment (HME) and related services in the United States. The company focuses on delivering respiratory care, mobility solutions and bathroom safety products to patients with chronic and acute medical needs. Through its comprehensive service offerings, AdaptHealth aims to enhance quality of life and clinical outcomes for patients who require long-term support outside of a hospital setting.

The company’s respiratory portfolio includes products such as continuous positive airway pressure (CPAP) devices, oxygen concentrators, ventilators, and associated supplies for patients with sleep apnea, COPD and other pulmonary conditions.