AdaptHealth (NASDAQ:AHCO) Major Shareholder Richard Cashin, Jr. Acquires 536,827 Shares

AdaptHealth Corp. (NASDAQ:AHCO) major shareholder Richard Cashin, Jr. acquired 536,827 shares of AdaptHealth stock in a transaction that occurred on Wednesday, March 11th. The shares were purchased at an average price of $9.73 per share, with a total value of $5,223,326.71. Following the transaction, the insider owned 15,175,535 shares of the company’s stock, valued at $147,657,955.55. The trade was a 3.67% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

AdaptHealth Stock Performance

Shares of AdaptHealth stock traded up $0.65 during trading hours on Friday, reaching $10.40. 718,538 shares of the stock traded hands, compared to its average volume of 1,208,445. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -18.93, a P/E/G ratio of 1.12 and a beta of 1.76. The company has a 50 day moving average price of $10.08 and a 200 day moving average price of $9.67. AdaptHealth Corp. has a one year low of $7.11 and a one year high of $11.17.

AdaptHealth (NASDAQ:AHCO) last announced its earnings results on Tuesday, February 24th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($1.10). The business had revenue of $846.29 million for the quarter, compared to the consensus estimate of $832.51 million. AdaptHealth had a negative net margin of 2.18% and a positive return on equity of 3.42%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 earnings per share. On average, equities research analysts expect that AdaptHealth Corp. will post 0.88 earnings per share for the current fiscal year.

Institutional Trading of AdaptHealth

Several institutional investors and hedge funds have recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new stake in AdaptHealth in the third quarter valued at approximately $35,000. PNC Financial Services Group Inc. lifted its position in AdaptHealth by 22.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock valued at $70,000 after purchasing an additional 1,279 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of AdaptHealth by 318.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock valued at $90,000 after buying an additional 7,297 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of AdaptHealth in the 2nd quarter valued at about $96,000. Finally, CIBC Bancorp USA Inc. acquired a new position in shares of AdaptHealth in the 3rd quarter valued at about $97,000. 82.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Weiss Ratings cut AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, February 25th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $13.00 price target on shares of AdaptHealth in a research note on Wednesday, February 25th. Leerink Partners decreased their price target on AdaptHealth from $13.00 to $12.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Wall Street Zen cut shares of AdaptHealth from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Zacks Research raised AdaptHealth from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 1st. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.25.

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.