Investors Purchase High Volume of AdaptHealth Call Options (NASDAQ:AHCO)

AdaptHealth Corp. (NASDAQ:AHCO) saw some unusual options trading activity on Tuesday. Investors purchased 45,533 call options on the company. This represents an increase of approximately 950% compared to the average daily volume of 4,337 call options.

Insider Activity

In other AdaptHealth news, COO Shaw Rietkerk sold 25,000 shares of AdaptHealth stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $11.24, for a total transaction of $281,000.00. Following the sale, the chief operating officer now directly owns 212,611 shares of the company’s stock, valued at $2,389,747.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Shaw Rietkerk sold 25,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,389,747.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David Solomon Williams III sold 4,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $11.26, for a total transaction of $45,040.00. Following the sale, the director now owns 36,899 shares of the company’s stock, valued at approximately $415,482.74. The disclosure for this sale can be found here. Corporate insiders own 4.43% of the company’s stock.

Institutional Investors Weigh In On AdaptHealth

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

AdaptHealth Price Performance

NASDAQ:AHCO opened at $10.19 on Thursday. AdaptHealth has a 52-week low of $6.37 and a 52-week high of $11.90. The company has a market cap of $1.37 billion, a P/E ratio of -1.93, 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. The stock’s 50-day simple moving average is $10.75 and its 200 day simple moving average is $10.44.

AdaptHealth (NASDAQ:AHCO) last announced its quarterly earnings data 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). AdaptHealth had a positive return on equity of 9.58% and a negative net margin of 21.20%. The company had revenue of $805.98 million for the quarter, compared to the consensus estimate of $802.62 million. During the same quarter in the prior year, the company earned $0.16 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that AdaptHealth will post 0.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 target price on shares of AdaptHealth in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company 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.