AdaptHealth Corp. (NASDAQ:AHCO) Sees Significant Growth in Short Interest

AdaptHealth Corp. (NASDAQ:AHCO) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totalling 8,960,000 shares, an increase of 12.0% from the August 31st total of 8,000,000 shares. Based on an average daily trading volume, of 1,210,000 shares, the short-interest ratio is currently 7.4 days. Approximately 10.8% of the shares of the company are sold short.

AdaptHealth Trading Up 0.9 %

NASDAQ:AHCO opened at $11.23 on Tuesday. AdaptHealth has a 12 month low of $6.37 and a 12 month high of $11.90. The firm has a market capitalization of $1.50 billion, a PE ratio of -2.13, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.15 and a quick ratio of 0.94. The business’s 50-day moving average is $10.73 and its two-hundred day moving average is $10.44.

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

Analyst Ratings Changes

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

Insider Activity

In other 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 stock was sold at an average price of $11.26, for a total transaction of $45,040.00. Following the transaction, the director now owns 36,899 shares of the company’s stock, valued at approximately $415,482.74. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director David Solomon Williams III sold 4,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $11.26, for a total value of $45,040.00. Following the transaction, the director now directly owns 36,899 shares of the company’s stock, valued at $415,482.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Shaw Rietkerk sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.24, for a total value of $281,000.00. Following the completion of the sale, the chief operating officer now directly owns 212,611 shares in the company, valued at $2,389,747.64. The disclosure for this sale can be found here. Insiders own 4.43% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in AdaptHealth by 8.9% in the first quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company’s stock valued at $115,304,000 after acquiring an additional 818,241 shares during the period. Reinhart Partners LLC. lifted its holdings in AdaptHealth by 1.4% in the second quarter. Reinhart Partners LLC. now owns 4,269,303 shares of the company’s stock valued at $42,693,000 after buying an additional 59,092 shares during the period. Dimensional Fund Advisors LP raised its holdings in AdaptHealth by 43.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,327,738 shares of the company’s stock worth $23,277,000 after purchasing an additional 710,131 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 acquiring an additional 746,340 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of AdaptHealth by 21.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,040,947 shares of the company’s stock worth $7,589,000 after acquiring an additional 183,135 shares during the period. Institutional investors and hedge funds own 82.67% of the company’s stock.

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.