Stock Traders Purchase Large Volume of AdaptHealth Put Options (NASDAQ:AHCO)

AdaptHealth Corp. (NASDAQ:AHCO) was the target of some unusual options trading activity on Monday. Investors purchased 3,236 put options on the stock. This represents an increase of approximately 402% compared to the average volume of 644 put options.

AdaptHealth Stock Performance

NASDAQ:AHCO opened at $10.27 on Tuesday. The company’s 50-day moving average is $9.44 and its two-hundred day moving average is $9.25. AdaptHealth has a 1-year low of $7.11 and a 1-year high of $11.63. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.08 and a quick ratio of 0.86. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 1.52 and a beta of 1.77.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.05). AdaptHealth had a net margin of 2.53% and a return on equity of 4.85%. The firm had revenue of $820.31 million for the quarter, compared to analysts’ expectations of $799.62 million. During the same period in the previous year, the firm posted $0.15 EPS. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. Analysts forecast that AdaptHealth will post 0.88 EPS for the current year.

Insider Activity at AdaptHealth

In related news, Director David Solomon Williams III sold 5,000 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $9.43, for a total transaction of $47,150.00. Following the completion of the transaction, the director owned 45,045 shares in the company, valued at $424,774.35. This represents a 9.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AdaptHealth

Large investors have recently modified their holdings of the business. FNY Investment Advisers LLC acquired a new stake in shares of AdaptHealth during the 3rd quarter worth about $35,000. CIBC Bancorp USA Inc. purchased a new position in AdaptHealth during the third quarter worth about $97,000. Verition Fund Management LLC raised its stake in shares of AdaptHealth by 52.6% in the 3rd quarter. Verition Fund Management LLC now owns 45,010 shares of the company’s stock valued at $403,000 after acquiring an additional 15,505 shares during the period. Prelude Capital Management LLC acquired a new position in shares of AdaptHealth in the 3rd quarter worth approximately $102,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of AdaptHealth by 27.0% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 73,472 shares of the company’s stock worth $658,000 after purchasing an additional 15,629 shares during the period. Institutional investors and hedge funds own 82.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wall Street Zen cut AdaptHealth from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Canaccord Genuity Group boosted their price target on AdaptHealth from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Weiss Ratings lowered AdaptHealth from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, December 8th. Finally, Zacks Research lowered shares of AdaptHealth from a “hold” rating to a “strong sell” rating in a report on Friday, September 19th. Five investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $13.60.

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.