Key Points
- AdaptHealth director Kenneth Samet purchased 23,500 shares at an average price of $6.38, investing approximately $149,930 and increasing his direct stake by 93.74% to 48,569 shares.
- AdaptHealth shares opened at $5.22, near their 12-month low of $5.21, and remain well below the 50-day and 200-day moving averages of $9.87 and $10.52, respectively.
- Analysts maintain a “Moderate Buy” consensus with an average price target of $10.29, while institutional investors own 82.67% of the company’s stock.
AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) Director Kenneth Samet bought 23,500 shares of the firm's stock in a transaction dated Thursday, August 6th. The shares were acquired at an average price of $6.38 per share, for a total transaction of $149,930.00. Following the acquisition, the director directly owned 48,569 shares of the company's stock, valued at approximately $309,870.22. The trade was a 93.74% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
AdaptHealth Stock Performance
AdaptHealth stock opened at $5.22 on Tuesday. The stock has a 50-day simple moving average of $9.87 and a 200 day simple moving average of $10.52. The company has a quick ratio of 0.98, a current ratio of 1.12 and a debt-to-equity ratio of 1.37. AdaptHealth Corp. has a 12-month low of $5.21 and a 12-month high of $13.43. The stock has a market capitalization of $709.45 million, a price-to-earnings ratio of -3.05, a P/E/G ratio of 0.29 and a beta of 1.47.
Wall Street Analysts Forecast Growth
AHCO has been the subject of a number of research analyst reports. Truist Financial dropped their target price on shares of AdaptHealth from $14.00 to $9.00 and set a "buy" rating for the company in a research note on Wednesday, August 5th. UBS Group lowered their price target on shares of AdaptHealth from $14.00 to $10.00 and set a "buy" rating for the company in a report on Thursday. Canaccord Genuity Group set a $10.00 price objective on shares of AdaptHealth in a research report on Wednesday, August 5th. Wall Street Zen downgraded AdaptHealth from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Robert W. Baird set a $10.00 price objective on AdaptHealth in a research report on Wednesday, August 5th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, AdaptHealth currently has a consensus rating of "Moderate Buy" and an average target price of $10.29.
Check Out Our Latest Analysis on AdaptHealth
Hedge Funds Weigh In On AdaptHealth
Large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in AdaptHealth by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 11,768,599 shares of the company's stock worth $117,215,000 after acquiring an additional 491,106 shares during the period. Deerfield Management Company L.P. lifted its stake in shares of AdaptHealth by 15.9% in the 3rd quarter. Deerfield Management Company L.P. now owns 11,477,730 shares of the company's stock valued at $102,726,000 after purchasing an additional 1,572,835 shares during the period. Reinhart Partners LLC. boosted its position in shares of AdaptHealth by 10.6% in the 4th quarter. Reinhart Partners LLC. now owns 8,100,785 shares of the company's stock worth $80,684,000 after purchasing an additional 773,727 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of AdaptHealth by 8.1% during the first quarter. Dimensional Fund Advisors LP now owns 6,920,973 shares of the company's stock worth $82,353,000 after purchasing an additional 518,274 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of AdaptHealth by 25.1% during the first quarter. Principal Financial Group Inc. now owns 2,784,316 shares of the company's stock worth $33,133,000 after purchasing an additional 558,357 shares during the period. 82.67% of the stock is currently owned by institutional investors and hedge funds.
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
