AdaptHealth Corp. (NASDAQ: AHCO) director David Solomon Williams III recently sold company shares valued at over $89,000, as per the latest SEC filings. The transactions occurred on three separate dates, with prices ranging between $9.90 and $11.26 per share.
Williams sold 3,100 shares on May 23 at an average price of $9.90, followed by a sale of 1,409 shares on May 24 at an average price of $9.97. The largest transaction took place on August 29, where Williams sold 4,000 shares at an average price of $11.26.
These sales are part of a series of transactions by Williams, totaling 8,509 shares. The weighted average prices for these sales were provided in the footnotes of the filing, indicating multiple transactions on May 23 with prices ranging from $9.9001 to $9.905.
Even after the reported sales, Williams still holds a significant number of shares in AdaptHealth. The exact number retained was not disclosed, but footnotes mentioned that the total as of May 23 and May 24 did not include previously reported transactions post those dates.
UBS has maintained its Buy rating on AdaptHealth, emphasizing the company's stable fundamentals, market share gains, and consistent margins. The firm also highlighted the company's significant presence in the continuous glucose monitoring market, representing 20% of the sector.
AdaptHealth reported a 1.6% year-over-year increase in net revenue and an adjusted EBITDA of $165.3 million for Q2 2024. The company's full-year guidance projects net revenue between $3.255 and $3.315 billion, and adjusted EBITDA between $660 and $700 million.
Furthermore, AdaptHealth announced the appointment of Scott Barnhart as Chief Operating Officer, signaling a strategic move to enhance management effectiveness and operational excellence. The company also announced a shift in executive roles, with COO Shaw Rietkerk transitioning to Chief Business Officer by the end of September 2024.
InvestingPro Insights
Investors analyzing AdaptHealth may find key insights from InvestingPro beneficial. The company's management engaging in share buybacks suggests confidence in future performance. AdaptHealth is expected to turn a profit this year, a positive signal for investors.
With a market capitalization of $1.42 billion and revenue of approximately $3.26 billion as of Q2 2024, AdaptHealth's growth rate of 6.05% reflects its potential to enhance shareholder value. The company's strong return over the last three months at 17.24% indicates positive short-term momentum.
Despite not paying dividends, AdaptHealth's valuation implies a strong free cash flow yield, hinting at potential for future investment or share repurchases. Investors can explore more detailed analysis and additional tips on InvestingPro to make informed decisions.
As AdaptHealth progresses, these insights offer investors a nuanced view of the company's performance, complementing information from insider transactions.
