AdaptHealth Corp. (NASDAQ:AHCO) Short Interest Update

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

AdaptHealth Stock Performance

Shares of AdaptHealth stock opened at $10.38 on Friday. The firm has a market cap of $1.40 billion, a PE ratio of -6.29, a price-to-earnings-growth ratio of 1.31 and a beta of 1.09. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. AdaptHealth has a 52 week low of $6.46 and a 52 week high of $11.90. The business’s fifty day simple moving average is $9.89 and its 200-day simple moving average is $10.34.

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

Hedge Funds Weigh In On AdaptHealth

A number of hedge funds have recently made changes to their positions in AHCO. Canada Pension Plan Investment Board acquired a new position in AdaptHealth during the second quarter worth $58,000. Quarry LP raised its holdings in shares of AdaptHealth by 4,596.9% in the 3rd quarter. Quarry LP now owns 5,965 shares of the company’s stock valued at $67,000 after buying an additional 5,838 shares during the period. CIBC Asset Management Inc acquired a new position in AdaptHealth during the 3rd quarter worth about $122,000. MBB Public Markets I LLC purchased a new position in AdaptHealth during the 2nd quarter valued at about $142,000. Finally, LRI Investments LLC grew its position in AdaptHealth by 32.0% in the 3rd quarter. LRI Investments LLC now owns 15,331 shares of the company’s stock valued at $172,000 after acquiring an additional 3,713 shares in the last quarter. Hedge funds and other institutional investors own 82.67% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on AHCO shares. Truist Financial cut their price objective on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a report on Friday, November 15th. UBS Group lowered their price objective on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Canaccord Genuity Group cut their target price on AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Robert W. Baird lowered their price target on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada cut their price objective 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AdaptHealth currently has an average rating of “Buy” and an average price target of $12.40.

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.