AdaptHealth Corp. (NASDAQ:AHCO) Sees Large Decline in Short Interest

AdaptHealth Corp. (NASDAQ:AHCO - Get Free Report) was the target of a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 8,510,000 shares, a decline of 12.0% from the December 31st total of 9,670,000 shares. Approximately 9.8% of the shares of the company are sold short. Based on an average daily volume of 1,110,000 shares, the short-interest ratio is currently 7.7 days.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On AdaptHealth

A number of large investors have recently bought and sold shares of AHCO. Blue Trust Inc. grew its stake in AdaptHealth by 24.1% in the fourth quarter. Blue Trust Inc. now owns 5,746 shares of the company's stock worth $55,000 after purchasing an additional 1,115 shares in the last quarter. Quarry LP lifted its holdings in shares of AdaptHealth by 4,596.9% in the 3rd quarter. Quarry LP now owns 5,965 shares of the company's stock worth $67,000 after buying an additional 5,838 shares during the period. CIBC Asset Management Inc bought a new position in shares of AdaptHealth during the 3rd quarter worth $122,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake 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 buying an additional 1,690 shares during the period. Finally, MBB Public Markets I LLC bought a new stake in shares of AdaptHealth in the second quarter valued at about $142,000. Hedge funds and other institutional investors own 82.67% of the company's stock.

AdaptHealth Trading Up 1.0 %

AHCO stock traded up $0.11 during midday trading on Friday, reaching $10.82. 807,198 shares of the company traded hands, compared to its average volume of 828,540. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -6.56, a P/E/G ratio of 1.35 and a beta of 1.09. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.00 and a current ratio of 1.24. The business has a 50 day moving average of $10.00 and a 200-day moving average of $10.39. AdaptHealth has a 52-week low of $6.91 and a 52-week high of $11.90.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.02). The firm had revenue of $805.90 million for 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%. AdaptHealth's revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 earnings per share. As a group, sell-side analysts expect that AdaptHealth will post 0.88 earnings per share 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.