AdaptHealth Corp. (NASDAQ:) director David Solomon Williams III has recently sold company shares valued at more than $89,000, according to the latest SEC filings. The transactions took place over three separate dates, with a price range between $9.9 and $11.26 per share.
Williams parted with 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 occurred 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 that have been reported by Williams, with the total number of shares sold reaching 8,509. The weighted average prices for these sales were provided in the footnotes of the filing, which indicated that the shares on May 23 were sold in multiple transactions with prices ranging from $9.9001 to $9.905.
After the reported sales, Williams still holds a significant number of shares in AdaptHealth, a company known for its home health care services. The exact number of shares retained by Williams was not disclosed in the report, but footnotes indicated that the total as of May 23 and May 24 did not reflect previously reported transactions that may have occurred after those dates.
The SEC filing was signed off by Jonathan B. Bush as attorney-in-fact for David S. Williams III, with a power of attorney previously filed on June 26, 2024. Investors keeping track of insider transactions may view these sales as part of the normal course of business, as executives and directors often sell shares for personal financial management reasons.
In other recent news, AdaptHealth Corp. has reported a 1.6% year-over-year increase in net revenue and an adjusted EBITDA of $165.3 million for Q2 2024, with full-year guidance projecting net revenue to be between $3.255 and $3.315 billion, and adjusted EBITDA between $660 and $700 million. Additionally, the company has announced the appointment of Scott Barnhart as Chief Operating Officer, bringing over three decades of experience from his previous role as COO of Qurate Retail Group (NASDAQ:). This change aligns with AdaptHealth’s strategic goals to enhance management effectiveness and operational excellence.
UBS has maintained its Buy rating on AdaptHealth, highlighting the company’s stable fundamentals, market share gains, and consistent margins. The firm also noted the company’s significant presence in the continuous glucose monitoring market, which now represents 20% of this sector.
In other company news, AdaptHealth has announced an executive role shift, with current COO Shaw Rietkerk transitioning to the role of Chief Business Officer by the end of September 2024. This move is part of the company’s internal reorganization efforts. The company also divested its underperforming rehabilitation business and sold some of its custom rehab technology assets to National Seating and Mobility, a strategic move to enhance efficiency and customer satisfaction. These are the recent developments in AdaptHealth Corp.
InvestingPro Insights
Amid the recent insider share sales by AdaptHealth Corp. (NASDAQ:AHCO) director David Solomon Williams III, investors may be seeking a broader understanding of the company’s financial health and future prospects. Here are some key insights from InvestingPro that could help in evaluating the company’s current market position:
AdaptHealth’s management has been actively engaged in share buybacks, a sign that they believe the shares are undervalued and are confident in the company’s future performance. This aligns with the “InvestingPro Tip” highlighting that management has been aggressively buying back shares. Additionally, the company is expected to turn a profit this year, as per another “InvestingPro Tip,” which can be a positive signal for investors.
Looking at real-time metrics, AdaptHealth has a market capitalization of $1.42 billion, indicating a substantial size within its sector. The company’s revenue for the last twelve months as of Q2 2024 stands at approximately $3.26 billion, with a growth rate of 6.05%. This growth is a critical factor for investors to consider, as it reflects the company’s ability to increase sales and potentially enhance shareholder value. Furthermore, the company’s strong return over the last three months, at 17.24%, suggests a positive short-term momentum that could be of interest to investors.
Despite not paying dividends, which is another key point from the “InvestingPro Tips,” AdaptHealth’s valuation implies a strong free cash flow yield, indicating the potential for future investment or share repurchases. Investors interested in more detailed analysis and additional “InvestingPro Tips” can find them at https://www.investing.com/pro/AHCO. There are currently 9 additional tips listed on InvestingPro to further assist in making informed decisions.
As AdaptHealth navigates its financial journey, these insights can provide investors with a more nuanced view of the company’s performance and potential, complementing the information gleaned from insider transactions.
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