Insider Selling: AdaptHealth Corp. (NASDAQ:AHCO) COO Sells $281,000.00 in Stock

AdaptHealth Corp. (NASDAQ:AHCO) COO Shaw Rietkerk sold 25,000 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.24, for a total value of $281,000.00. Following the sale, the chief operating officer now owns 212,611 shares in the company, valued at approximately $2,389,747.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

AdaptHealth Price Performance

Shares of AHCO stock opened at $10.30 on Friday. The stock has a 50 day moving average price of $10.73 and a 200 day moving average price of $10.44. The firm has a market capitalization of $1.39 billion, a P/E ratio of -1.95, a P/E/G ratio of 1.73 and a beta of 1.10. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.15. AdaptHealth Corp. has a 52-week low of $6.37 and a 52-week high of $11.90.

AdaptHealth (NASDAQ:AHCO) last issued its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The company had revenue of $805.98 million for the quarter, compared to analysts’ expectations of $802.62 million. AdaptHealth had a negative net margin of 21.20% and a positive return on equity of 9.58%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 earnings per share. As a group, sell-side analysts predict that AdaptHealth Corp. will post 0.87 earnings per share for the current year.

Hedge Funds Weigh In On AdaptHealth

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in AdaptHealth by 197.1% in the first quarter. GAMMA Investing LLC now owns 2,537 shares of the company’s stock worth $29,000 after purchasing an additional 1,683 shares in the last quarter. Covestor Ltd grew its position in shares of AdaptHealth by 279.6% during the 1st quarter. Covestor Ltd now owns 3,109 shares of the company’s stock worth $36,000 after buying an additional 2,290 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of AdaptHealth during the second quarter valued at $58,000. Blue Trust Inc. bought a new stake in shares of AdaptHealth in the second quarter valued at about $85,000. Finally, Innealta Capital LLC purchased a new stake in AdaptHealth in the second quarter worth about $101,000. 82.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 target price on shares of AdaptHealth in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.70.

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.