AdaptHealth Corp. (NASDAQ: AHCO) stock jumped 0.21% on Friday to $9.74 against a previous-day closing price of $9.72. With 5.66 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.36 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $9.92 whereas the lowest price it dropped to was $9.56. The 52-week range on AHCO shows that it touched its highest point at $23.30 and its lowest point at $9.32 during that stretch. It currently has a 1-year price target of $17.00. Beta for the stock currently stands at 0.72.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AHCO was down-trending over the past week, with a drop of -9.65%, but this was down by -27.69% over a month. Three-month performance dropped to -2.40% while six-month performance fell -28.75%. The stock lost -48.68% in the past year, while it has lost -49.32% so far this year. A look at the trailing 12-month EPS for AHCO yields 0.29 with Next year EPS estimates of 0.86. For the next quarter, that number is 0.19. This implies an EPS growth rate of -57.20% for this year and 36.93% for next year.
Float and Shares Shorts:
At present, 134.29 million AHCO shares are outstanding with a float of 95.08 million shares on hand for trading. On Aug 30, 2023, short shares totaled 6.09 million, which was 4.47% higher than short shares on Jul 30, 2023. In addition to Mr. Joshua Parnes as the firm’s Pres & Director, Mr. Jason A. Clemens C.F.A. serves as its Chief Financial Officer.
Through their ownership of 91.04% of AHCO’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 55.08% of AHCO, in contrast to 31.98% held by mutual funds. Shares owned by individuals account for 31.94%. As the largest shareholder in AHCO with 8.15% of the stake, Deerfield Management Co. LP holds 11,094,914 shares worth 11,094,914. A second-largest stockholder of AHCO, BlackRock Fund Advisors, holds 10,794,724 shares, controlling over 7.93% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in AHCO, holding 8,132,209 shares or 5.98% stake. With a 3.97% stake in AHCO, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 5,402,243 shares are owned by the mutual fund manager. The Fidelity Value Fund, which owns about 1.84% of AHCO stock, is the second-largest Mutual Fund holder. It holds 2,505,896 shares valued at 29.9 million. Vanguard Total Stock Market ETF holds 1.72% of the stake in AHCO, owning 2,337,979 shares worth 27.89 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, AHCO reported revenue of $727.61M and operating income of $59.18M. The EBITDA in the recently reported quarter was $137.39M and diluted EPS was $0.09.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AHCO since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With AHCO analysts setting a high price target of $21.00 and a low target of $13.00, the average target price over the next 12 months is $17.00. Based on these targets, AHCO could surge 115.61% to reach the target high and rise by 33.47% to reach the target low. Reaching the average price target will result in a growth of 74.54% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded AHCO stock several times over the past three months with 10 Buys and 10 Sells. In these transactions, 341,104 shares were bought while 3,677,380 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has risen to 59 over the past year. The total number of shares bought during that period was 1,396,346 while 12,665,858 shares were sold.