Stock Traders Buy High Volume of Put Options on AdaptHealth (NASDAQ:AHCO)

AdaptHealth Corp. (NASDAQ:AHCO) saw some unusual options trading activity on Tuesday. Stock investors acquired 4,503 put options on the stock. This is an increase of 53% compared to the typical daily volume of 2,939 put options.

Wall Street Analysts Forecast Growth

AHCO has been the subject of several research reports. UBS Group dropped their price target on AdaptHealth from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Canaccord Genuity Group dropped their target price on AdaptHealth from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Royal Bank of Canada decreased their price target on shares of 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 dropped their price objective on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Finally, Robert W. Baird cut their price target on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $12.20.

AdaptHealth Price Performance

AdaptHealth stock traded up $1.96 during midday trading on Tuesday, reaching $10.51. The company’s stock had a trading volume of 4,320,770 shares, compared to its average volume of 1,035,999. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 1.34. The stock has a market cap of $1.41 billion, a PE ratio of -6.44, a price-to-earnings-growth ratio of 1.08 and a beta of 1.12. AdaptHealth has a 52 week low of $7.25 and a 52 week high of $11.90. The business has a 50-day moving average price of $9.83 and a 200-day moving average price of $10.19.

Hedge Funds Weigh In On AdaptHealth

Several institutional investors and hedge funds have recently added to or reduced their stakes in AHCO. Mackenzie Financial Corp increased its holdings in shares of AdaptHealth by 111.8% during the fourth quarter. Mackenzie Financial Corp now owns 81,583 shares of the company’s stock worth $777,000 after buying an additional 43,059 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of AdaptHealth by 21.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 197,901 shares of the company’s stock valued at $1,884,000 after purchasing an additional 35,431 shares in the last quarter. State of Wyoming increased its stake in shares of AdaptHealth by 26.5% in the fourth quarter. State of Wyoming now owns 30,641 shares of the company’s stock valued at $292,000 after buying an additional 6,418 shares during the period. ProShare Advisors LLC increased its stake in shares of AdaptHealth by 44.3% in the fourth quarter. ProShare Advisors LLC now owns 30,766 shares of the company’s stock valued at $293,000 after buying an additional 9,450 shares during the period. Finally, Nuveen Asset Management LLC boosted its position in AdaptHealth by 27.9% during the 4th quarter. Nuveen Asset Management LLC now owns 316,108 shares of the company’s stock worth $3,009,000 after buying an additional 69,050 shares during the period. Institutional investors own 82.67% of the company’s stock.

AdaptHealth Company Profile

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.