Aristeia Capital L.L.C. Takes $749,000 Position in AdaptHealth Corp. $AHCO

Aristeia Capital L.L.C. bought a new stake in shares of AdaptHealth Corp. (NASDAQ:AHCO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 75,174 shares of the company’s stock, valued at approximately $749,000. Aristeia Capital L.L.C. owned 0.06% of AdaptHealth as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new stake in AdaptHealth in the 3rd quarter worth about $35,000. PNC Financial Services Group Inc. grew its position in AdaptHealth by 22.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock worth $70,000 after acquiring an additional 1,279 shares during the period. Tower Research Capital LLC TRC increased its stake in AdaptHealth by 318.0% during the second quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock worth $90,000 after acquiring an additional 7,297 shares during the last quarter. Tidal Investments LLC acquired a new stake in AdaptHealth during the second quarter worth $96,000. Finally, CIBC Bancorp USA Inc. acquired a new stake in AdaptHealth during the third quarter worth $97,000. 82.67% of the stock is currently owned by institutional investors and hedge funds.

AdaptHealth Trading Down 6.0%

NASDAQ AHCO opened at $9.53 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.92 and a debt-to-equity ratio of 1.21. The firm has a 50-day moving average price of $11.21 and a 200 day moving average price of $10.58. AdaptHealth Corp. has a 52-week low of $8.06 and a 52-week high of $13.43. The stock has a market capitalization of $1.30 billion, a P/E ratio of -15.37, a P/E/G ratio of 0.51 and a beta of 1.47.

AdaptHealth (NASDAQ:AHCO) last issued its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.13). AdaptHealth had a positive return on equity of 2.76% and a negative net margin of 2.42%.The company had revenue of $819.80 million for the quarter, compared to analyst estimates of $796.63 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts expect that AdaptHealth Corp. will post 0.44 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Truist Financial lifted their target price on shares of AdaptHealth from $13.00 to $14.00 and gave the company a “buy” rating in a report on Monday, April 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of AdaptHealth in a research note on Friday, May 22nd. Canaccord Genuity Group boosted their target price on shares of AdaptHealth from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. UBS Group reduced their price target on shares of AdaptHealth from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $11.00 price target on shares of AdaptHealth in a research report on Monday, April 20th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, AdaptHealth has a consensus rating of “Moderate Buy” and a consensus target price of $14.29.

Insider Activity at AdaptHealth

In other AdaptHealth news, major shareholder Richard M. Cashin, Jr. purchased 447,100 shares of the stock in a transaction dated Friday, March 20th. The shares were acquired at an average cost of $9.91 per share, for a total transaction of $4,430,761.00. Following the completion of the transaction, the insider directly owned 16,312,698 shares of the company’s stock, valued at $161,658,837.18. This trade represents a 2.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Russell E. Schuster III sold 11,275 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $10.06, for a total transaction of $113,426.50. Following the completion of the sale, the insider owned 136,538 shares in the company, valued at $1,373,572.28. This represents a 7.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.95% of the stock is owned by corporate insiders.

AdaptHealth Company Profile

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.