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

Principal Financial Group Inc. increased its position in shares of AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 39.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 543,744 shares of the company's stock after purchasing an additional 154,434 shares during the period. Principal Financial Group Inc. owned 0.40% of AdaptHealth worth $6,106,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board purchased a new stake in AdaptHealth in the second quarter valued at $58,000. Quarry LP raised its position in AdaptHealth by 4,596.9% in the 3rd quarter. Quarry LP now owns 5,965 shares of the company's stock valued at $67,000 after purchasing an additional 5,838 shares during the last quarter. Quest Partners LLC boosted its stake in AdaptHealth by 11,522.7% during the 2nd quarter. Quest Partners LLC now owns 10,228 shares of the company's stock worth $102,000 after purchasing an additional 10,140 shares during the period. CIBC Asset Management Inc purchased a new position in AdaptHealth during the 3rd quarter worth $122,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of AdaptHealth in the second quarter valued at about $113,000. Hedge funds and other institutional investors own 82.67% of the company's stock.

AdaptHealth Price Performance

Shares of NASDAQ:AHCO traded up $0.18 on Thursday, reaching $9.70. 680,743 shares of the company were exchanged, compared to its average volume of 1,108,339. The company has a 50-day moving average of $9.96 and a 200-day moving average of $10.38. 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 has a market cap of $1.31 billion, a price-to-earnings ratio of -5.88, a price-to-earnings-growth ratio of 1.36 and a beta of 1.10. AdaptHealth Corp. has a 1-year low of $6.46 and a 1-year high of $11.90.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.02). The company had revenue of $805.90 million for the quarter, compared to analyst estimates of $809.32 million. AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The company's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 earnings per share. Equities analysts forecast that AdaptHealth Corp. will post 0.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on AHCO. Royal Bank of Canada decreased their price objective on AdaptHealth from $13.00 to $11.00 and set an "outperform" rating for the company in a research report on Tuesday, November 19th. Robert W. Baird lowered their price objective on shares of AdaptHealth from $16.00 to $14.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. UBS Group dropped their price objective on shares of AdaptHealth from $13.00 to $12.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Canaccord Genuity Group reduced their target price on shares of AdaptHealth from $14.00 to $13.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Finally, Truist Financial dropped their price target on shares of AdaptHealth from $13.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, November 15th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $11.67.

AdaptHealth 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.