AHCO - AdaptHealth gains ahead of addition to S&P SmallCap 600

• Healthcare distributor AdaptHealth Corp. ( NASDAQ: AHCO ) added ~8% in the pre-market Tuesday as the company is set to join the S&P SmallCap 600 before the market open on Aug. 04.
• The Plymouth Meeting, Pennsylvania-based supplier of home medical equipment and supplies will replace Meritor Inc. ( MTOR ).
• The S&P 500 constituent Cummins Inc. ( CMI ) has agreed to acquire Meritor ( MTOR ) in a deal expected to complete soon subject to the satisfaction of closing conditions.
• AdaptHealth ( AHCO ) shares rose in May after its director Matthew Ebbel and his SkyKnight Capital fund purchased company shares worth as much as ~$2.8M.
• Ahead of the insider purchase, AdaptHealth ( AHCO ) reported better than expected revenue for 1Q 2022 and announced an increase to the full year revenue guidance along with a $200M share buyback.

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