Investing in AdaptHealth Corp. (AHCO) Is Getting More Attractive

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ZOM Stock

AdaptHealth Corp.’s filing revealed that its 9% owner Everest Hill Group Inc. unloaded Company’s shares for reported $11.21 million on Feb 06. In the deal valued at $20.75 per share,540,000 shares were sold. As a result of this transaction, Everest Hill Group Inc. now holds 12,805,008 shares worth roughly $ 284.14 million.

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Then, Everest Hill Group Inc. sold 44,789 shares, generating $940,569 in total proceeds. Upon selling the shares at $21.00, the 9.9% owner now owns 13,345,008 shares.

Before that, Everest Hill Group Inc. sold 55,211 shares. AdaptHealth Corp. shares valued at $1,159,431 were divested by the 9.9% owner at a price of $21.00 per share. As a result of the transaction, Everest Hill Group Inc. now holds 13,389,797 shares, worth roughly $297.12 million.

SVB Leerink initiated its AdaptHealth Corp. [AHCO] rating to an Outperform in a research note published on Friday, September 27, 2021; the price target was $30. PT values the company’s stock at a premium of 26.03 to its Friday closing price. A number of analysts have revised their coverage, including Robert W. Baird’s analysts, who increased its forecast for the stock in mid July from “a Neutral” to “an Outperform”. Robert W. Baird also remained covering AHCO and has decreased its forecast on April 13, 2021 with a “Neutral” recommendation from previously “an Outperform” rating. Truist started covering the stock on March 18, 2021. It rated AHCO as “a Buy”.

Price Performance Review of AHCO

On Friday, AdaptHealth Corp. [NASDAQ:AHCO] saw its stock fall -2.38% to $22.19. On the same session, the stock had its day’s lowest price of $22.00, but rose to a high of $22.69. Over the last five days, the stock has gained 0.59%. AdaptHealth Corp. shares have risen nearly 15.45% since the year began. Nevertheless, the stocks have risen 42.61% over the past one year. While a 52-week high of $27.48 was reached on 02/23/23, a 52-week low of $11.40 was recorded on 01/03/23. SMA at 50 days reached $20.68, while 200 days put it at $20.28. A total of 1.22 million shares were traded, compared to the trading of 1.41 million shares in the previous session.

Levels Of Support And Resistance For AHCO Stock

The 24-hour chart illustrates a support level at 21.90, which if violated will result in even more drops to 21.60. On the upside, there is a resistance level at 22.59. A further resistance level may holdings at 22.98. The Relative Strength Index (RSI) on the 14-day chart is 58.55, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.01, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 24.75%. Stochastics %K at 89.31% indicates the stock is a selling.

How much short interest is there in AdaptHealth Corp.?

A steep rise in short interest was recorded in AdaptHealth Corp. stocks on Jan 30, 2023, dropping by -1.36 million shares to a total of 8.88 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 10.24 million shares. There was a decline of -15.32%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 9.01% of the overall stock float, the days-to-cover ratio (short ratio) fell to 14.59.

AdaptHealth Corp. [AHCO] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 11,061,792 shares, or roughly 8.21% of the outstanding AHCO shares. In other words, the investor’s shares have risen by 6,369,477 from its previous 13-F filing of 4692315.0. Additionally, The Vanguard Group, Inc. increased 5.42% of its stake after which the total value it holdings stand at $173,454,163, while Deerfield Management Co. LP reduced -7.26% of its stake to hold $163.44 million in the firm. Over the last quarter, Fidelity Management & Research Co purchased 563,629 shares of AdaptHealth Corp., while Truist Bank bought 3,494,585 shares. At present, Rubric Capital Management LP is holding 3,770,409 shares valued at $80.8 million. Nikko Asset Management Co., Ltd. owned 2,977,755 shares of the company at the time of its most recent 13F filing, worth $63.81 million.

According to FactSet, AdaptHealth Corp.’s share price will average $28.55 in the next year, based on opinions of analysts polled by the firm. This is up nearly 23.19 percent from its previous closing price of $22.73. Analysts expect AdaptHealth Corp. stock to reach the higher price of $35.00, while the lowest price estimate is $25.00. However, 10 analysts have rated AHCO stock as a Buy in their predictions for 2023. The most recent change occurred on January 26, 2021 when BofA Securities began covering the stock and recommended ‘”a Buy”‘ rating along with a $46 price target.


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