AdaptHealth (NASDAQ:AHCO) Shares Up 10.5% After Insider Buying Activity

AdaptHealth Corp. (NASDAQ:AHCO)’s stock price traded up 10.5% during mid-day trading on Tuesday following insider buying activity. The company traded as high as $5.80 and last traded at $5.7690. Approximately 1,041,900 shares changed hands during trading, a decline of 36% from the average daily volume of 1,633,719 shares. The stock had previously closed at $5.22.

Specifically, Director Kenneth A. Samet bought 23,500 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was bought at an average cost 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AHCO shares. Weiss Ratings reiterated a “sell (d)” rating on shares of AdaptHealth in a research report on Friday, May 22nd. UBS Group cut their target price on AdaptHealth from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday. Jefferies Financial Group upgraded shares of AdaptHealth from a “hold” rating to a “buy” rating and upped their price target for the stock from $11.00 to $13.00 in a research report on Tuesday, July 21st. Royal Bank Of Canada dropped their price objective on shares of AdaptHealth from $15.00 to $8.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Truist Financial cut their price objective on shares of AdaptHealth from $14.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, AdaptHealth currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.29.

AdaptHealth Trading Up 11.2%

The company has a quick ratio of 0.98, a current ratio of 1.12 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $788.96 million, a P/E ratio of -3.39, a PEG ratio of 0.29 and a beta of 1.47. The firm’s 50-day simple moving average is $9.87 and its 200 day simple moving average is $10.52.

Institutional Trading of AdaptHealth

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in AdaptHealth by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 11,768,599 shares of the company’s stock valued at $117,215,000 after purchasing an additional 491,106 shares during the last quarter. Deerfield Management Company L.P. increased its holdings in shares of AdaptHealth by 15.9% in the third quarter. Deerfield Management Company L.P. now owns 11,477,730 shares of the company’s stock valued at $102,726,000 after buying an additional 1,572,835 shares in the last quarter. Reinhart Partners LLC. increased its holdings in shares of AdaptHealth by 10.6% in the fourth quarter. Reinhart Partners LLC. now owns 8,100,785 shares of the company’s stock valued at $80,684,000 after buying an additional 773,727 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of AdaptHealth by 8.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,920,973 shares of the company’s stock valued at $82,353,000 after acquiring an additional 518,274 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of AdaptHealth by 25.1% during the 1st quarter. Principal Financial Group Inc. now owns 2,784,316 shares of the company’s stock worth $33,133,000 after acquiring an additional 558,357 shares in the last quarter. 82.67% of the stock is currently owned by institutional investors.

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.