Short Interest in AdaptHealth Corp. (NASDAQ:AHCO) Declines By 25.9%

AdaptHealth Corp. (NASDAQ:AHCO – Get Rating) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 6,630,000 shares, a decrease of 25.9% from the March 15th total of 8,950,000 shares. Approximately 9.2% of the company’s stock are sold short. Based on an average daily trading volume, of 1,130,000 shares, the short-interest ratio is currently 5.9 days.

Shares of AHCO opened at $15.84 on Friday. AdaptHealth has a 1-year low of $13.95 and a 1-year high of $31.14. The company has a market capitalization of $2.09 billion, a P/E ratio of 40.62, a P/E/G ratio of 0.28 and a beta of 0.31. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.34 and a quick ratio of 1.09. The firm’s 50 day simple moving average is $16.51 and its 200 day simple moving average is $20.37.

AdaptHealth (NASDAQ:AHCO – Get Rating) last announced its earnings results on Thursday, February 24th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.25). AdaptHealth had a return on equity of 7.97% and a net margin of 6.36%. The company had revenue of $702.11 million during the quarter, compared to analysts’ expectations of $693.15 million. On average, equities analysts anticipate that AdaptHealth will post 1.4 earnings per share for the current year.

Several research firms recently weighed in on AHCO. Canaccord Genuity Group reduced their price target on shares of AdaptHealth from $44.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, February 25th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of AdaptHealth from $34.00 to $28.00 in a research report on Friday, February 25th. SVB Leerink reduced their price target on shares of AdaptHealth from $32.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, March 2nd. TheStreet upgraded shares of AdaptHealth from a “d” rating to a “c” rating in a research report on Wednesday, February 2nd. Finally, Zacks Investment Research lowered shares of AdaptHealth from a “buy” rating to a “hold” rating in a research report on Friday, February 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, AdaptHealth has a consensus rating of “Buy” and an average target price of $28.25.

In other news, Director Skyknight Capital Fund Ii, L.P bought 13,352 shares of AdaptHealth stock in a transaction dated Friday, March 4th. The stock was purchased at an average price of $15.00 per share, for a total transaction of $200,280.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Stephen P. Griggs bought 32,342 shares of AdaptHealth stock in a transaction dated Thursday, March 3rd. The stock was purchased at an average price of $15.44 per share, with a total value of $499,360.48. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 88,180 shares of company stock worth $1,351,923. Corporate insiders own 17.30% of the company’s stock.

A number of large investors have recently made changes to their positions in AHCO. Millennium Management LLC purchased a new position in AdaptHealth in the second quarter worth $218,000. Morgan Stanley grew its position in AdaptHealth by 2,720.3% in the second quarter. Morgan Stanley now owns 960,181 shares of the company’s stock worth $26,319,000 after acquiring an additional 926,136 shares in the last quarter. Commonwealth Equity Services LLC grew its position in AdaptHealth by 19.5% in the third quarter. Commonwealth Equity Services LLC now owns 27,671 shares of the company’s stock worth $644,000 after acquiring an additional 4,509 shares in the last quarter. SG Americas Securities LLC purchased a new position in AdaptHealth in the third quarter worth $226,000. Finally, New York State Common Retirement Fund grew its position in AdaptHealth by 60.3% in the third quarter. New York State Common Retirement Fund now owns 228,582 shares of the company’s stock worth $5,324,000 after acquiring an additional 85,998 shares in the last quarter. Institutional investors own 55.20% of the company’s stock.

AdaptHealth Company Profile (Get Rating)

AdaptHealth Corp., together with its subsidiaries, provides 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 to patients 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.

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