Short Interest in AdaptHealth Corp. (NASDAQ:AHCO) Grows By 14.8%

AdaptHealth Corp. (NASDAQ:AHCO) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 10,290,000 shares, a growth of 14.8% from the September 15th total of 8,960,000 shares. Based on an average trading volume of 1,120,000 shares, the days-to-cover ratio is currently 9.2 days. Approximately 12.4% of the company’s stock are short sold.

Insider Buying and Selling at AdaptHealth

In related news, Director David Solomon Williams III sold 4,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was 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 directly owns 36,899 shares in the company, valued at $415,482.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director David Solomon Williams III sold 4,000 shares of the business’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 transaction of $45,040.00. Following the completion of the transaction, the director now owns 36,899 shares in the company, valued at $415,482.74. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Shaw Rietkerk sold 25,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.24, for a total transaction of $281,000.00. Following the sale, the chief operating officer now directly owns 212,611 shares of the company’s stock, valued at $2,389,747.64. The trade was 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 Investors Weigh In On AdaptHealth

A number of institutional investors and hedge funds have recently modified their holdings of the company. Reinhart Partners LLC. raised its position in AdaptHealth by 45.2% during the 3rd quarter. Reinhart Partners LLC. now owns 6,198,642 shares of the company’s stock worth $69,611,000 after buying an additional 1,929,339 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of AdaptHealth by 8.9% in the first quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock worth $115,304,000 after acquiring an additional 818,241 shares during the period. Divisadero Street Capital Management LP raised its holdings in shares of AdaptHealth by 179.7% during the second quarter. Divisadero Street Capital Management LP now owns 1,161,592 shares of the company’s stock worth $11,616,000 after purchasing an additional 746,340 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in AdaptHealth by 43.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,327,738 shares of the company’s stock valued at $23,277,000 after purchasing an additional 710,131 shares during the period. Finally, Foundry Partners LLC purchased a new stake in AdaptHealth in the second quarter valued at $4,706,000. Institutional investors and hedge funds own 82.67% of the company’s stock.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 target price on shares of AdaptHealth in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, AdaptHealth has an average rating of “Hold” and a consensus price target of $10.70.

AdaptHealth Trading Down 0.7 %

NASDAQ AHCO opened at $10.02 on Tuesday. AdaptHealth has a 12-month low of $6.37 and a 12-month high of $11.90. The company has a fifty day simple moving average of $10.55 and a two-hundred day simple moving average of $10.40. 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 has a market cap of $1.33 billion, a P/E ratio of -1.90, a P/E/G ratio of 1.60 and a beta of 1.10.

AdaptHealth (NASDAQ:AHCO) last issued its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The firm had revenue of $805.98 million during the quarter, compared to analysts’ expectations of $802.62 million. AdaptHealth had a positive return on equity of 9.58% and a negative net margin of 21.20%. The business’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the business earned $0.16 EPS. On average, analysts forecast that AdaptHealth will post 0.87 earnings per share for the current year.

About AdaptHealth

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.