Insider Buying: AdaptHealth (NASDAQ:AHCO) Director Purchases 23,500 Shares of Stock

AdaptHealth Corp. (NASDAQ:AHCO) Director Kenneth Samet purchased 23,500 shares of the stock in a transaction on Thursday, August 6th. The stock was acquired at an average price of $6.38 per share, for a total transaction of $149,930.00. Following the completion of the purchase, the director directly owned 48,569 shares in the company, valued at approximately $309,870.22. The trade was a 93.74% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

AdaptHealth Stock Down 8.3%

Shares of AdaptHealth stock traded down $0.47 during trading hours on Monday, reaching $5.22. 7,441,760 shares of the company’s stock were exchanged, compared to its average volume of 3,114,178. The company has a 50 day moving average of $9.87 and a two-hundred day moving average of $10.52. AdaptHealth Corp. has a fifty-two week low of $5.21 and a fifty-two week high of $13.43. The company has a current ratio of 1.12, a quick ratio of 0.98 and a debt-to-equity ratio of 1.37. The stock has a market cap of $709.45 million, a P/E ratio of -3.05, a P/E/G ratio of 0.29 and a beta of 1.47.

Hedge Funds Weigh In On AdaptHealth

A number of institutional investors have recently bought and sold shares of AHCO. Handelsbanken Fonder AB bought a new stake in AdaptHealth in the second quarter valued at approximately $226,000. Empowered Funds LLC boosted its stake in shares of AdaptHealth by 1.4% during the 1st quarter. Empowered Funds LLC now owns 622,904 shares of the company’s stock worth $7,413,000 after acquiring an additional 8,602 shares during the period. Quantinno Capital Management LP increased its holdings in shares of AdaptHealth by 140.0% during the 1st quarter. Quantinno Capital Management LP now owns 109,694 shares of the company’s stock worth $1,305,000 after acquiring an additional 63,992 shares during the last quarter. Lazard Asset Management LLC raised its stake in AdaptHealth by 35.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,669,454 shares of the company’s stock valued at $19,867,000 after acquiring an additional 432,664 shares during the period. Finally, Renaissance Technologies LLC raised its stake in AdaptHealth by 10.1% in the 1st quarter. Renaissance Technologies LLC now owns 228,373 shares of the company’s stock valued at $2,718,000 after acquiring an additional 21,000 shares during the period. Institutional investors and hedge funds own 82.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AHCO. UBS Group reduced their price target on AdaptHealth from $14.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday. Robert W. Baird set a $10.00 price objective on AdaptHealth in a research note on Wednesday, August 5th. Canaccord Genuity Group set a $10.00 price objective on AdaptHealth in a report on Wednesday, August 5th. Weiss Ratings reissued a “sell (d)” rating on shares of AdaptHealth in a research note on Friday, May 22nd. Finally, Wall Street Zen downgraded shares of AdaptHealth from a “buy” rating to a “hold” rating in a report on Saturday. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, AdaptHealth has a consensus rating of “Moderate Buy” and a consensus target price of $10.29.

AdaptHealth Company Profile

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.