Home Hedge Funds What Do Insiders’ Activities Indicate for Apollo Medical Stock?

What Do Insiders’ Activities Indicate for Apollo Medical Stock?

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Healthcare services provider Apollo Medical Holdings, Inc. (NASDAQ: AMEH) offers integrated care, inpatient, and physician alignment solutions. 

With a market capitalization of $1.95 billion, the AMEH stock has lost 48.21% year-to-date and is hovering near its 52-week low price. Despite strong fundamentals and upbeat revenues in the March quarter, shares are sliding amid the general sell-off in the market. 

Besides, TipRanks’ Stock Investors tool shows that investors currently have a Very Negative stance on Apollo Medical, with 2.9% of investors maintaining portfolios on TipRanks decreasing their exposure to AMEH stock over the past 30 days. Furthermore, 0.8% of these individuals have reduced their holdings in the recent week. 

Nevertheless, per TipRanks’ Hedge Fund Trading Activity tool, hedge funds have increased their exposure to AMEH stock. The cumulative change in holdings across all 4 hedge funds that were active in the last quarter was an increase of 58,500 shares. 

What Next? 

On Friday, a couple of insider activities were visible on the AMEH board, while overall, corporate insiders did not indicate any trend.

Per the recent SEC (Securities and Exchange Commission) filings and TipRanks’ Insider Trading Activity tool, Allied Physicians of California, which owns more than 10% ownership in the company, purchased 250,000 shares valued at $9.25 million. Meanwhile, Apollo Medical’s director, Linda March, sold 250,000 shares for $9.25 million. 

Interestingly, the management lifted the guidance for 2022 on the back of robust growth in organic membership and a favorable membership mix.

In the March quarter earnings release, Brandon Sim, Co-CEO of Apollo Medical, said, “We are seeing strong tailwinds for the business, as independent physicians across the country express interest in our unique model; in this quarter alone, we added two new physician groups in Northern California.” 

Conclusion 

Despite the recent sell-off, Apollo Medical’s strong business momentum and robust cash position show long-term prospects. 

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