AdaptHealth Corp. (NASDAQ:AHCO) Short Interest Update

AdaptHealth Corp. (NASDAQ:AHCO) was the target of a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 8,510,000 shares, a decline of 12.0% from the December 31st total of 9,670,000 shares. Approximately 9.8% of the company’s shares are sold short. Based on an average daily volume of 1,110,000 shares, the short-interest ratio is currently 7.7 days.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Robert W. Baird reduced their price objective on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Canaccord Genuity Group decreased their price target on AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Truist Financial dropped their price objective on AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, November 15th. UBS Group decreased their target price on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada dropped their price target on shares of AdaptHealth from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $12.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AHCO. Blue Trust Inc. grew its stake in AdaptHealth by 24.1% in the fourth quarter. Blue Trust Inc. now owns 5,746 shares of the company’s stock worth $55,000 after purchasing an additional 1,115 shares during the period. Quarry LP grew its position in shares of AdaptHealth by 4,596.9% in the 3rd quarter. Quarry LP now owns 5,965 shares of the company’s stock worth $67,000 after buying an additional 5,838 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of AdaptHealth by 15.4% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,663 shares of the company’s stock worth $121,000 after acquiring an additional 1,690 shares in the last quarter. CIBC Asset Management Inc bought a new stake in AdaptHealth during the third quarter worth about $122,000. Finally, MBB Public Markets I LLC purchased a new stake in AdaptHealth in the second quarter worth about $142,000. Hedge funds and other institutional investors own 82.67% of the company’s stock.

AdaptHealth Price Performance

AHCO opened at $10.71 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.00 and a current ratio of 1.24. The stock has a market capitalization of $1.44 billion, a PE ratio of -6.49, a price-to-earnings-growth ratio of 1.32 and a beta of 1.09. The stock’s 50 day moving average price is $9.98 and its 200-day moving average price is $10.38. AdaptHealth has a 52-week low of $6.91 and a 52-week high of $11.90.

AdaptHealth (NASDAQ:AHCO) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The company had revenue of $805.90 million for the quarter, compared to analysts’ expectations of $809.32 million. AdaptHealth had a negative net margin of 6.57% and a positive return on equity of 9.62%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 earnings per share. On average, equities research analysts predict that AdaptHealth will post 0.88 EPS 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.