Insider Buying: AdaptHealth (NASDAQ:AHCO) Major Shareholder Acquires 536,827 Shares of Stock

AdaptHealth Corp. (NASDAQ:AHCO) major shareholder Richard Cashin, Jr. acquired 536,827 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was acquired at an average cost of $9.73 per share, for a total transaction of $5,223,326.71. Following the completion of the purchase, the insider directly owned 15,175,535 shares of the company’s stock, valued at approximately $147,657,955.55. This represents a 3.67% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

AdaptHealth Stock Performance

NASDAQ:AHCO remained flat at $9.75 during trading hours on Thursday. The company’s stock had a trading volume of 2,028,117 shares, compared to its average volume of 1,561,091. AdaptHealth Corp. has a twelve month low of $7.11 and a twelve month high of $11.17. The stock has a 50-day moving average of $10.08 and a 200 day moving average of $9.67. The firm has a market capitalization of $1.33 billion, a PE ratio of -17.73, a P/E/G ratio of 1.12 and a beta of 1.76. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 1.15.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($0.76) earnings per share 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 firm had revenue of $846.29 million during the quarter, compared to the consensus estimate of $832.51 million. During the same period in the previous year, the company posted $0.34 EPS. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, equities analysts expect that AdaptHealth Corp. will post 0.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AHCO. PNC Financial Services Group Inc. grew its holdings in shares of AdaptHealth by 22.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock worth $70,000 after purchasing an additional 1,279 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in AdaptHealth by 6.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,095 shares of the company’s stock valued at $256,000 after buying an additional 1,671 shares during the period. MetLife Investment Management LLC raised its position in shares of AdaptHealth by 3.1% in the 4th quarter. MetLife Investment Management LLC now owns 57,364 shares of the company’s stock worth $571,000 after acquiring an additional 1,749 shares in the last quarter. Corient Private Wealth LLC raised its holdings in AdaptHealth by 8.6% in the fourth quarter. Corient Private Wealth LLC now owns 22,562 shares of the company’s stock worth $227,000 after purchasing an additional 1,794 shares in the last quarter. Finally, CWM LLC raised its stake in shares of AdaptHealth by 17.5% during the 3rd quarter. CWM LLC now owns 12,306 shares of the company’s stock worth $110,000 after acquiring an additional 1,835 shares in the last quarter. Institutional investors own 82.67% of the company’s stock.

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.