Principal Financial Group Inc. Boosts Holdings in AdaptHealth Corp. (NASDAQ:AHCO)

Principal Financial Group Inc. boosted its position in AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 204.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,652,765 shares of the company's stock after purchasing an additional 1,109,021 shares during the period. Principal Financial Group Inc. owned about 1.23% of AdaptHealth worth $15,735,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its position in AdaptHealth by 24.1% in the 4th quarter. Blue Trust Inc. now owns 5,746 shares of the company's stock worth $55,000 after purchasing an additional 1,115 shares in the last quarter. Quarry LP grew its position in shares of AdaptHealth by 4,596.9% during the 3rd quarter. Quarry LP now owns 5,965 shares of the company's stock valued at $67,000 after acquiring an additional 5,838 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of AdaptHealth by 15.4% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,663 shares of the company's stock valued at $121,000 after acquiring an additional 1,690 shares during the period. CIBC Asset Management Inc bought a new position in shares of AdaptHealth during the 3rd quarter valued at approximately $122,000. Finally, LRI Investments LLC grew its position in shares of AdaptHealth by 32.0% during the 3rd quarter. LRI Investments LLC now owns 15,331 shares of the company's stock valued at $172,000 after acquiring an additional 3,713 shares during the period. 82.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Canaccord Genuity Group increased their target price on shares of AdaptHealth from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Wednesday. Truist Financial increased their target price on shares of AdaptHealth from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Wednesday. UBS Group reduced their target price on shares of AdaptHealth from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Royal Bank of Canada increased their target price on shares of AdaptHealth from $11.00 to $14.00 and gave the company an "outperform" rating in a research report on Wednesday. Finally, Robert W. Baird upped their price target on shares of AdaptHealth from $14.00 to $16.00 and gave the company an "outperform" rating in a research note on Thursday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AdaptHealth currently has an average rating of "Buy" and an average price target of $13.80.

AdaptHealth Stock Performance

Shares of AHCO stock traded up $0.29 during trading on Friday, reaching $11.38. 1,758,793 shares of the company's stock traded hands, compared to its average volume of 1,099,020. The company has a market capitalization of $1.53 billion, a P/E ratio of -6.90, a PEG ratio of 1.08 and a beta of 1.12. The company has a current ratio of 1.24, a quick ratio of 1.00 and a debt-to-equity ratio of 1.34. The firm's 50-day moving average is $9.92 and its 200 day moving average is $10.23. AdaptHealth Corp. has a 1 year low of $8.35 and a 1 year high of $11.90.

AdaptHealth Company Profile

AdaptHealth Corp., together with its subsidiaries, sells home medical equipment (HME), medical supplies, and home and related services in the United States. The company provides sleep therapy equipment, supplies, and related services, such as CPAP and bi-PAP services to individuals suffering from obstructive sleep apnea; medical devices and supplies, including continuous glucose monitors and insulin pumps for the treatment of diabetes; HME to patients discharged from acute care and other facilities; oxygen and related chronic therapy services in the home; and other HME devices and supplies on behalf of chronically ill patients with wound care, urological, incontinence, ostomy, and nutritional supply needs.