Key Points
- Major shareholder Richard Cashin Jr. purchased 536,827 shares at an average of $9.73 per share—a $5.22 million buy that raised his stake to 15,175,535 shares (a 3.67% increase) valued at about $147.7 million.
- AdaptHealth reported a quarterly EPS loss of $0.76 (missing the $0.34 consensus) while generating revenue of $846.3 million (above estimates), leaving the company with a negative net margin of -2.18% and a market cap near $1.41 billion.
- Institutional investors own about 82.7% of the stock, several funds recently adjusted positions, and analysts rate the shares a "Moderate Buy" on average with a $13.25 price target.
AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) major shareholder Richard Cashin, Jr. purchased 536,827 shares of the firm's stock in a transaction on Wednesday, March 11th. The stock was bought at an average cost of $9.73 per share, with a total value of $5,223,326.71. Following the completion of the acquisition, the insider directly owned 15,175,535 shares of the company's stock, valued at $147,657,955.55. This trade represents a 3.67% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.
AdaptHealth Stock Performance
Shares of NASDAQ AHCO traded up $0.65 during midday trading on Friday, reaching $10.40. 718,538 shares of the stock were exchanged, 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 cap of $1.41 billion, a price-to-earnings ratio of -18.93, a PEG ratio of 1.12 and a beta of 1.76. The firm has a 50-day simple moving average of $10.08 and a two-hundred day simple moving average of $9.67. AdaptHealth Corp. has a twelve month low of $7.11 and a twelve month high of $11.17.
AdaptHealth (NASDAQ:AHCO - Get Free Report) last posted 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 negative net margin of 2.18% and a positive return on equity of 3.42%. The firm had revenue of $846.29 million during the quarter, compared to analyst estimates of $832.51 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The business's revenue for the quarter was down 1.2% on a year-over-year basis. As a group, analysts anticipate that AdaptHealth Corp. will post 0.88 EPS for the current fiscal year.
Institutional Investors Weigh In On AdaptHealth
Several institutional investors and hedge funds have recently added to or reduced their stakes in AHCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of AdaptHealth by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,495 shares of the company's stock worth $656,000 after buying an additional 2,564 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of AdaptHealth by 32.4% in the first quarter. Goldman Sachs Group Inc. now owns 571,232 shares of the company's stock valued at $6,192,000 after buying an additional 139,828 shares during the last quarter. Woodline Partners LP purchased a new position in shares of AdaptHealth in the first quarter worth about $2,851,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in AdaptHealth by 18.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 233,780 shares of the company's stock worth $2,534,000 after acquiring an additional 35,879 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in AdaptHealth by 115.3% during the second quarter. Envestnet Asset Management Inc. now owns 152,679 shares of the company's stock worth $1,440,000 after acquiring an additional 81,760 shares during the last quarter. Institutional investors and hedge funds own 82.67% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada reissued an "outperform" rating and set a $13.00 target price on shares of AdaptHealth in a research note on Wednesday, February 25th. Wall Street Zen cut AdaptHealth from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Weiss Ratings lowered AdaptHealth from a "hold (c-)" rating to a "sell (d)" rating in a report on Wednesday, February 25th. Zacks Research raised shares of AdaptHealth from a "strong sell" rating to a "hold" rating in a report on Thursday, January 1st. Finally, Leerink Partners decreased their price objective on shares of AdaptHealth from $13.00 to $12.00 and set an "outperform" rating on the stock in a report on Thursday, February 26th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $13.25.
Get Our Latest Research Report on AdaptHealth
About AdaptHealth
(
Get Free Report)
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.
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