Richard Cashin, identified as holding roughly a 10 percent stake in AdaptHealth Corp (NASDAQ: AHCO), has increased his exposure to the company by purchasing a total of 447,827 shares of common stock for about $4.4 million, according to a Form 4 filing with the Securities and Exchange Commission.
The buying occurred in two recorded transactions. On March 19, 2026, Cashin acquired 727 shares at prices between $9.94 and $9.95. The following day, March 20, 2026, he purchased 447,100 shares at prices ranging from $9.81 to $9.95. After these filings, Cashin’s combined direct and indirect holdings total 16,312,698 shares of AdaptHealth Corp.
The insider purchases come while AHCO shares are trading near their 52-week high of $11.17; the stock was quoted at $10.37 at the time of the filing. A valuation note included in market commentary cites a Fair Value estimate of $13.78 for the company, implying a valuation gap relative to the prevailing market price.
Recent company results complicate the near-term narrative. AdaptHealth reported fourth-quarter 2025 earnings that missed analyst expectations on an earnings-per-share basis, posting EPS of -$0.76 versus a forecast of $0.36, a negative surprise quantified at -311.11 percent. At the same time, the company reported revenue of $846.3 million, topping the $832.5 million consensus by 1.66 percent.
Analyst responses reflect the mixed dataset. RBC Capital kept an Outperform rating and a $13.00 price target even after noting the decline in shares following the earnings release and the company’s 2026 guidance, which they said was a factor behind the share movement. Leerink Partners also maintained an Outperform stance but reduced its price target to $12.00, pointing to operational progress amid the noisy Q4 results.
These developments leave investors with contrasting signals: significant insider buying and analyst Outperform ratings on one hand, and a substantial EPS shortfall on the other. The filings and analyst notes together sketch a nuanced picture of sentiment and valuation around AdaptHealth as the company navigates its 2026 outlook.
Note: The information above is drawn from SEC filings, reported earnings, and published analyst commentary referenced in the company’s disclosures.