AdaptHealth (NASDAQ:AHCO) Shares Down 5.5% - Here's What Happened
AdaptHealth Corp. (NASDAQ:AHCO) shares fell 5.5% to $0.92 amid mid-day trading, with a trading volume decline of 56% from the average. The company reported a quarterly EPS of $0.13, missing estimates, and had a negative net margin of 21.20%. Analysts maintain a consensus rating of "Hold" with an average target price of $0.70. Recent insider sales included 4,000 shares by Director David Solomon Williams III and 25,000 shares by COO Shaw Rietkerk. Hedge funds hold 82.67% of the stock, indicating significant institutional interest.
AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report)'s stock price dropped 5.5% during mid-day trading on Monday . The stock traded as low as $9.90 and last traded at $9.92. Approximately 454,654 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 1,044,496 shares. The stock had previously closed at $10.50.
Analyst Upgrades and Downgrades
- 3 Small-Cap Leaders Poised for Significant Growth
Separately, Royal Bank of Canada reissued an "outperform" rating and issued a $13.00 target price on shares of AdaptHealth in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $10.70.
View Our Latest Stock Analysis on AHCO
AdaptHealth Trading Down 3.3 %
The company has a current ratio of 1.15, a quick ratio of 0.94 and a debt-to-equity ratio of 1.38. The stock's fifty day moving average price is $10.80 and its two-hundred day moving average price is $10.44. The stock has a market capitalization of $1.36 billion, a P/E ratio of -2.01, a price-to-earnings-growth ratio of 1.60 and a beta of 1.11.
AdaptHealth (NASDAQ:AHCO - Get Free Report) last posted its quarterly 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). 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 for the quarter, compared to analysts' expectations of $802.62 million. During the same quarter in the previous year, the company earned $0.16 earnings per share. The business's quarterly revenue was up 1.6% on a year-over-year basis. Equities research analysts forecast that AdaptHealth Corp. will post 0.87 EPS for the current year.
Insiders Place Their Bets
In other AdaptHealth news, Director David Solomon Williams III sold 4,000 shares of the stock in a transaction 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 completion of the sale, the director now owns 36,899 shares of the company's stock, valued at $415,482.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other AdaptHealth news, COO Shaw Rietkerk sold 25,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $11.24, for a total value of $281,000.00. Following the completion of the sale, the chief operating officer now owns 212,611 shares in the company, valued at approximately $2,389,747.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David Solomon Williams III sold 4,000 shares of the company's 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 transaction, the director now owns 36,899 shares of the company's stock, valued at approximately $415,482.74. This 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
A number of hedge funds have recently added to or reduced their stakes in AHCO. Covestor Ltd grew 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 period. Canada Pension Plan Investment Board bought a new position in AdaptHealth in the second quarter worth $58,000. Blue Trust Inc. purchased a new position in AdaptHealth during the second quarter valued at $85,000. Innealta Capital LLC purchased a new position in AdaptHealth during the second quarter valued at $101,000. Finally, Quest Partners LLC grew its position in shares of AdaptHealth by 11,522.7% in the 2nd quarter. Quest Partners LLC now owns 10,228 shares of the company's stock worth $102,000 after buying an additional 10,140 shares during the period. 82.67% of the stock is owned by hedge funds and other institutional investors.
About AdaptHealth
(Get Free Report)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.
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