AdaptHealth (NASDAQ:AHCO) Reaches New 1-Year High – Here’s What Happened

AdaptHealth Corp. (NASDAQ:AHCO) reached a new 52-week high during trading on Wednesday . The stock traded as high as $11.69 and last traded at $11.48, with a volume of 2811208 shares traded. The stock had previously closed at $10.37.

Key Stories Impacting AdaptHealth

Here are the key news stories impacting AdaptHealth this week:

• Positive Sentiment: Major insider buy — Richard M. Cashin, Jr. purchased 447,100 shares at an average price of $9.91 on March 20, increasing his stake to ~16.31M shares (a ~2.8% increase). Large insider purchases are typically viewed as a vote of confidence by a controlling shareholder. Insider Buying: AdaptHealth Major Shareholder Purchases 447,100 Shares Adapthealth corp: Richard Cashin buys $4.4m in AHCO stock
• Neutral Sentiment: Analyst and institutional backdrop — mixed analyst moves (RBC and Leerink on the bullish side, Wall Street Zen/Weiss more cautious) but MarketBeat consensus remained around a “Moderate Buy” with a ~$13.25 target; long-term institutional ownership is high (~82.7%), which can limit free float and amplify moves.
• Negative Sentiment: Elevated and inconsistent short-interest prints — one report shows short interest rose to ~9.04M shares as of March 13 (up 22.5% from Feb. 26), representing ~6.8% shorted and a ~5.1 days-to-cover figure — a meaningful short position that can pressure the stock and raise volatility. However, multiple subsequent data entries show 0 shares/NaN (clearly erroneous), so short-interest figures are currently inconsistent across data vendors; the mixed prints themselves can generate trading noise and confusion for investors.

Analyst Ratings Changes

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

AdaptHealth Stock Performance

The stock has a market capitalization of $1.56 billion, a PE ratio of -20.87, a PEG ratio of 1.19 and a beta of 1.76. The company has a quick ratio of 0.81, a current ratio of 1.02 and a debt-to-equity ratio of 1.15. The firm has a 50 day moving average price of $10.11 and a 200-day moving average price of $9.74.

AdaptHealth (NASDAQ:AHCO) last issued its earnings results on Tuesday, February 24th. The company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $846.29 million during the quarter, compared to analysts’ expectations of $832.51 million. During the same quarter in the prior year, the company earned $0.34 EPS. AdaptHealth’s quarterly revenue was down 1.2% on a year-over-year basis. Research analysts expect that AdaptHealth Corp. will post 0.88 EPS for the current fiscal year.

Insider Buying and Selling

In other AdaptHealth news, major shareholder Richard M. Cashin, Jr. acquired 447,100 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were acquired at an average cost of $9.91 per share, with a total value of $4,430,761.00. Following the acquisition, the insider directly owned 16,312,698 shares of the company’s stock, valued at approximately $161,658,837.18. The trade was a 2.82% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders have purchased 2,494,518 shares of company stock worth $24,352,291. Insiders own 1.55% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its position in AdaptHealth by 22.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock worth $70,000 after purchasing an additional 1,279 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of AdaptHealth by 6.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,095 shares of the company’s stock valued at $256,000 after buying an additional 1,671 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of AdaptHealth by 3.1% in the 4th quarter. MetLife Investment Management LLC now owns 57,364 shares of the company’s stock valued at $571,000 after buying an additional 1,749 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of AdaptHealth by 8.6% in the 4th 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 during the period. Finally, CWM LLC boosted its stake 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. 82.67% of the stock is currently owned by institutional investors and hedge funds.

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.