Principal Financial Group Inc. Has $6.11 Million Stake in AdaptHealth Corp. (NASDAQ:AHCO)

Principal Financial Group Inc. boosted its holdings in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 39.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 543,744 shares of the company’s stock after buying an additional 154,434 shares during the period. Principal Financial Group Inc. owned about 0.40% of AdaptHealth worth $6,106,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings 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. grew its holdings in shares of AdaptHealth by 45.2% in the 3rd quarter. Reinhart Partners LLC. now owns 6,198,642 shares of the company’s stock worth $69,611,000 after purchasing an additional 1,929,339 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of AdaptHealth by 43.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,327,738 shares of the company’s stock worth $23,277,000 after purchasing an additional 710,131 shares during the last quarter. Divisadero Street Capital Management LP increased its position in shares of AdaptHealth by 179.7% during the 2nd quarter. Divisadero Street Capital Management LP now owns 1,161,592 shares of the company’s stock worth $11,616,000 after purchasing an additional 746,340 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in AdaptHealth by 50.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 897,752 shares of the company’s stock valued at $8,978,000 after purchasing an additional 302,801 shares during the last quarter. 82.67% of the stock is owned by institutional investors.

Insider Activity at AdaptHealth

In other news, COO Shaw Rietkerk sold 25,000 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.24, for a total transaction of $281,000.00. Following the completion of the sale, the chief operating officer now owns 212,611 shares of the company’s stock, valued at $2,389,747.64. This represents a 10.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Solomon Williams III sold 4,000 shares of the business’s stock in a transaction on 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 in the company, valued at $415,482.74. This represents a 9.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.43% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AHCO has been the subject of several recent analyst reports. Royal Bank of Canada dropped their price objective on shares of AdaptHealth from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Tuesday. Canaccord Genuity Group reduced their price objective on AdaptHealth from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Robert W. Baird lowered their target price on AdaptHealth from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Truist Financial lowered their price objective on shares of AdaptHealth from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Finally, UBS Group reduced their target price 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. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.67.

AdaptHealth Stock Down 0.2 %

Shares of NASDAQ:AHCO opened at $9.72 on Thursday. The company has a 50 day moving average of $10.53 and a 200-day moving average of $10.45. AdaptHealth Corp. has a one year low of $6.43 and a one year high of $11.90. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -5.89, a P/E/G ratio of 1.34 and a beta of 1.11. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.00.

AdaptHealth (NASDAQ:AHCO) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate 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 prior year, the business earned $0.19 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, sell-side analysts forecast that AdaptHealth Corp. will post 0.89 earnings per share for the current year.

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.