AdaptHealth (NASDAQ:AHCO) Major Shareholder Richard Cashin, Jr. Purchases 447,100 Shares of Stock

AdaptHealth Corp. (NASDAQ:AHCO) major shareholder Richard Cashin, Jr. bought 447,100 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was bought at an average price of $9.91 per share, with a total value of $4,430,761.00. Following the transaction, the insider directly owned 16,312,698 shares in the company, valued at $161,658,837.18. This represents a 2.82% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

AdaptHealth Stock Up 4.6%

AHCO stock opened at $10.37 on Tuesday. The firm’s 50-day moving average is $10.09 and its two-hundred day moving average is $9.72. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -18.85, a price-to-earnings-growth ratio of 1.14 and a beta of 1.76. AdaptHealth Corp. has a 52 week low of $7.11 and a 52 week high of $11.17. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 1.15.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly earnings data on Tuesday, February 24th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($1.10). AdaptHealth had a negative net margin of 2.18% and a positive return on equity of 3.42%. The company had revenue of $846.29 million during the quarter, compared to the consensus estimate of $832.51 million. During the same quarter last year, the business earned $0.34 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis. On average, analysts forecast that AdaptHealth Corp. will post 0.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its stake in shares of AdaptHealth by 22.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock valued at $70,000 after purchasing an additional 1,279 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in AdaptHealth by 6.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,095 shares of the company’s stock worth $256,000 after buying an additional 1,671 shares during the last quarter. MetLife Investment Management LLC increased its position in AdaptHealth by 3.1% during the fourth quarter. MetLife Investment Management LLC now owns 57,364 shares of the company’s stock worth $571,000 after buying an additional 1,749 shares during the last quarter. Corient Private Wealth LLC raised its holdings in AdaptHealth by 8.6% during the fourth quarter. Corient Private Wealth LLC now owns 22,562 shares of the company’s stock valued at $227,000 after buying an additional 1,794 shares in the last quarter. Finally, CWM LLC lifted its position in shares of AdaptHealth by 17.5% in the third quarter. CWM LLC now owns 12,306 shares of the company’s stock worth $110,000 after buying an additional 1,835 shares during the last quarter. Institutional investors own 82.67% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AHCO shares. Wall Street Zen cut AdaptHealth from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Leerink Partners decreased their target price on AdaptHealth from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $13.00 target price on shares of AdaptHealth in a report on Wednesday, February 25th. Zacks Research upgraded shares of AdaptHealth from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Weiss Ratings downgraded shares of AdaptHealth from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday, February 25th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.25.

About AdaptHealth

AdaptHealth, Inc operates as a leading provider of home medical equipment (HME) and related services in the United States. The company focuses on delivering respiratory care, mobility solutions and bathroom safety products to patients with chronic and acute medical needs. Through its comprehensive service offerings, AdaptHealth aims to enhance quality of life and clinical outcomes for patients who require long-term support outside of a hospital setting.

The company’s respiratory portfolio includes products such as continuous positive airway pressure (CPAP) devices, oxygen concentrators, ventilators, and associated supplies for patients with sleep apnea, COPD and other pulmonary conditions.