AdaptHealth Sees Unusually Large Options Volume (NASDAQ:AHCO)

AdaptHealth Corp. (NASDAQ:AHCO) was the target of some unusual options trading activity on Thursday. Traders bought 41,622 put options on the stock. This represents an increase of approximately 1,002% compared to the typical volume of 3,777 put options.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AHCO. UBS Group dropped their target price on AdaptHealth from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Royal Bank of Canada cut their target price on AdaptHealth from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Truist Financial decreased their price target on shares of 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 cut their price objective on shares of AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Finally, Robert W. Baird decreased their target price on shares of AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, AdaptHealth currently has an average rating of “Buy” and an average price target of $12.40.

AdaptHealth Stock Performance

Shares of AdaptHealth stock traded up $0.17 during midday trading on Thursday, hitting $10.80. The company had a trading volume of 156,603 shares, compared to its average volume of 808,247. The company has a fifty day simple moving average of $9.98 and a 200 day simple moving average of $10.38. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -6.54, a PEG ratio of 1.32 and a beta of 1.09. The company has a quick ratio of 1.00, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. AdaptHealth has a 12-month low of $6.91 and a 12-month high of $11.90.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.02). AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The company had revenue of $805.90 million for the quarter, compared to analyst estimates of $809.32 million. During the same quarter in the previous year, the firm posted $0.19 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. As a group, analysts predict that AdaptHealth will post 0.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AdaptHealth

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. grew its holdings in AdaptHealth by 24.1% during the fourth quarter. Blue Trust Inc. now owns 5,746 shares of the company’s stock worth $55,000 after acquiring an additional 1,115 shares during the period. Quarry LP grew its stake in shares of AdaptHealth by 4,596.9% during the 3rd quarter. Quarry LP now owns 5,965 shares of the company’s stock worth $67,000 after purchasing an additional 5,838 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of AdaptHealth by 15.4% during the 4th 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 in the last quarter. CIBC Asset Management Inc purchased a new stake in AdaptHealth during the third quarter worth $122,000. Finally, MBB Public Markets I LLC purchased a new stake in AdaptHealth during the second quarter worth $142,000. Institutional investors and hedge funds own 82.67% of the company’s stock.

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.