Principal Financial Group Inc. Increases Stake in AdaptHealth Corp. (NASDAQ:AHCO)

Principal Financial Group Inc. boosted its holdings in shares of AdaptHealth Corp. (NASDAQ:AHCO - Free Report) by 39.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 543,744 shares of the company's stock after purchasing an additional 154,434 shares during the quarter. Principal Financial Group Inc. owned about 0.40% of AdaptHealth worth $6,106,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in AdaptHealth by 8.9% during the first quarter. Vanguard Group Inc. now owns 10,017,722 shares of the company's stock valued at $115,304,000 after purchasing an additional 818,241 shares in the last quarter. Reinhart Partners LLC. increased its position in AdaptHealth by 45.2% during the third quarter. Reinhart Partners LLC. now owns 6,198,642 shares of the company's stock valued at $69,611,000 after acquiring an additional 1,929,339 shares during the last quarter. Dimensional Fund Advisors LP increased its position in AdaptHealth by 43.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,327,738 shares of the company's stock valued at $23,277,000 after acquiring an additional 710,131 shares during the last quarter. Divisadero Street Capital Management LP increased its position in AdaptHealth by 179.7% during the second quarter. Divisadero Street Capital Management LP now owns 1,161,592 shares of the company's stock valued at $11,616,000 after acquiring an additional 746,340 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its position in AdaptHealth by 50.9% during the second quarter. First Eagle Investment Management LLC now owns 897,752 shares of the company's stock valued at $8,978,000 after acquiring an additional 302,801 shares during the last quarter. Hedge funds and other institutional investors own 82.67% of the company's stock.

Wall Street Analyst Weigh In

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

AdaptHealth Trading Down 0.2 %

NASDAQ AHCO opened at $9.72 on Thursday. The company's 50-day moving average price is $10.53 and its 200-day moving average price is $10.45. 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 stock has a market cap of $1.31 billion, a PE ratio of -5.89, a PEG ratio of 1.34 and a beta of 1.11. AdaptHealth Corp. has a 12 month low of $6.43 and a 12 month high of $11.90.

AdaptHealth (NASDAQ:AHCO - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.02). AdaptHealth had a positive return on equity of 9.62% and a negative net margin of 6.57%. The company had revenue of $805.90 million during the quarter, compared to the consensus estimate of $809.32 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company's revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts forecast that AdaptHealth Corp. will post 0.89 earnings per share for the current year.

Insiders Place Their Bets

In other AdaptHealth news, Director David Solomon Williams III sold 4,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $11.26, for a total transaction of $45,040.00. Following the completion of the sale, the director now directly owns 36,899 shares of the company's stock, valued at approximately $415,482.74. This represents a 9.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Shaw Rietkerk sold 25,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $11.24, for a total transaction of $281,000.00. Following the sale, the chief operating officer now directly owns 212,611 shares of the company's stock, valued at approximately $2,389,747.64. The trade was a 10.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.43% of the stock is owned by company insiders.

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.