Short Interest in AdaptHealth Corp. (NASDAQ:AHCO) Expands By 22.5%

AdaptHealth Corp. (NASDAQ:AHCO) saw a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 9,040,635 shares, an increase of 22.5% from the February 26th total of 7,377,638 shares. Based on an average trading volume of 1,767,075 shares, the days-to-cover ratio is presently 5.1 days. Currently, 6.8% of the shares of the stock are sold short.

Insider Activity

In related news, major shareholder Richard M. Cashin, Jr. acquired 447,100 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average price of $9.91 per share, with a total value of $4,430,761.00. Following the completion of the purchase, the insider directly owned 16,312,698 shares in the company, valued at approximately $161,658,837.18. The trade was a 2.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 2,494,518 shares of company stock valued at $24,352,291 in the last quarter. 1.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AdaptHealth

A number of hedge funds have recently made changes to their positions in AHCO. Rockefeller Capital Management L.P. increased its holdings in shares of AdaptHealth by 433.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company’s stock worth $26,000 after buying an additional 2,100 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of AdaptHealth in the 3rd quarter worth $35,000. PNC Financial Services Group Inc. boosted its holdings in AdaptHealth by 22.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock valued at $70,000 after acquiring an additional 1,279 shares during the last quarter. Tower Research Capital LLC TRC grew its position in AdaptHealth by 318.0% during the second quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock valued at $90,000 after acquiring an additional 7,297 shares during the period. Finally, Tidal Investments LLC purchased a new stake in AdaptHealth during the second quarter valued at about $96,000. Institutional investors and hedge funds own 82.67% of the company’s stock.

AdaptHealth Stock Up 5.5%

AHCO opened at $11.91 on Wednesday. AdaptHealth has a 12 month low of $7.11 and a 12 month high of $11.98. The business has a 50-day moving average of $10.20 and a two-hundred day moving average of $9.81. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.02 and a quick ratio of 0.81. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -21.65, a price-to-earnings-growth ratio of 1.30 and a beta of 1.76.

AdaptHealth (NASDAQ:AHCO) last released 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). AdaptHealth had a positive return on equity of 3.42% and a negative net margin of 2.18%.The company had revenue of $846.29 million during the quarter, compared to analyst estimates of $832.51 million. During the same period in the prior year, the business posted $0.34 earnings per share. AdaptHealth’s revenue was down 1.2% on a year-over-year basis. On average, research analysts expect that AdaptHealth will post 0.88 earnings per share for the current year.

Wall Street Analyst Weigh In

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