AdaptHealth Corp. (NASDAQ:AHCO) Short Interest Update

AdaptHealth Corp. (NASDAQ:AHCO) was the target of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totalling 8,510,000 shares, a decrease of 12.0% from the December 31st total of 9,670,000 shares. Approximately 9.8% of the shares of the stock are sold short. Based on an average trading volume of 1,110,000 shares, the days-to-cover ratio is presently 7.7 days.

Institutional Investors Weigh In On AdaptHealth

Several institutional investors and hedge funds have recently made changes to their positions in AHCO. Blue Trust Inc. increased its holdings in shares of AdaptHealth by 24.1% during the fourth quarter. Blue Trust Inc. now owns 5,746 shares of the company’s stock valued at $55,000 after purchasing an additional 1,115 shares during the period. Quarry LP increased its holdings in shares of AdaptHealth by 4,596.9% during the third quarter. Quarry LP now owns 5,965 shares of the company’s stock valued at $67,000 after purchasing an additional 5,838 shares during the period. CIBC Asset Management Inc acquired a new position in shares of AdaptHealth during the third quarter valued at $122,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of AdaptHealth by 15.4% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,663 shares of the company’s stock valued at $121,000 after purchasing an additional 1,690 shares during the period. Finally, MBB Public Markets I LLC acquired a new position in shares of AdaptHealth during the second quarter valued at $142,000. 82.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AHCO has been the subject of a number of analyst reports. Truist Financial dropped their price target on AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Canaccord Genuity Group dropped their price target on AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. UBS Group dropped their price target on AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Royal Bank of Canada dropped their price target on AdaptHealth from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Finally, Robert W. Baird dropped their price target on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AdaptHealth currently has a consensus rating of “Buy” and an average target price of $12.40.

AdaptHealth Stock Performance

NASDAQ AHCO opened at $10.82 on Friday. AdaptHealth has a fifty-two week low of $6.91 and a fifty-two week high of $11.90. The business has a 50 day moving average price of $10.00 and a two-hundred day moving average price of $10.39. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.00 and a current ratio of 1.24.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The company had revenue of $805.90 million during the quarter, compared to analysts’ expectations of $809.32 million. AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 EPS. On average, equities analysts predict that AdaptHealth will post 0.88 EPS for the current fiscal year.

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.