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

Principal Financial Group Inc. lifted its position in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 39.7% in the 3rd quarter, Holdings Channel reports. 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.’s holdings in AdaptHealth were worth $6,106,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AHCO. Cornercap Investment Counsel Inc. boosted its position in AdaptHealth by 2.8% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 46,706 shares of the company’s stock worth $467,000 after acquiring an additional 1,254 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in AdaptHealth by 1.2% during the second quarter. Public Sector Pension Investment Board now owns 171,877 shares of the company’s stock worth $1,719,000 after purchasing an additional 2,060 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in AdaptHealth by 8.1% in the second quarter. The Manufacturers Life Insurance Company now owns 39,440 shares of the company’s stock valued at $394,000 after purchasing an additional 2,959 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in AdaptHealth by 23.8% in the 3rd quarter. Mutual of America Capital Management LLC now owns 15,893 shares of the company’s stock valued at $178,000 after buying an additional 3,052 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in AdaptHealth by 1.3% during the 2nd quarter. Rhumbline Advisers now owns 271,033 shares of the company’s stock worth $2,710,000 after buying an additional 3,498 shares in the last quarter. 82.67% of the stock is currently owned by institutional investors.

AdaptHealth Trading Up 1.7 %

Shares of AHCO stock opened at $9.52 on Thursday. AdaptHealth Corp. has a fifty-two week low of $6.46 and a fifty-two week high of $11.90. The stock’s fifty day moving average price is $9.96 and its two-hundred day moving average price is $10.38. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.00 and a current ratio of 1.24. The company has a market cap of $1.28 billion, a PE ratio of -5.77, a P/E/G ratio of 1.36 and a beta of 1.10.

AdaptHealth (NASDAQ:AHCO) last announced 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 negative net margin of 6.57% and a positive return on equity of 9.62%. The company had revenue of $805.90 million for the quarter, compared to the consensus estimate of $809.32 million. During the same period last year, the firm posted $0.19 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts predict that AdaptHealth Corp. will post 0.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.