Principal Financial Group Inc. Has $33.13 Million Stock Position in AdaptHealth Corp. $AHCO

Principal Financial Group Inc. lifted its holdings in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 25.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,784,316 shares of the company’s stock after acquiring an additional 558,357 shares during the quarter. Principal Financial Group Inc. owned approximately 2.05% of AdaptHealth worth $33,133,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC boosted its position in AdaptHealth by 386.3% during the fourth quarter. SG Americas Securities LLC now owns 78,141 shares of the company’s stock worth $778,000 after purchasing an additional 62,073 shares during the period. Kennedy Capital Management LLC raised its position in shares of AdaptHealth by 15.2% in the fourth quarter. Kennedy Capital Management LLC now owns 2,408,038 shares of the company’s stock valued at $23,984,000 after purchasing an additional 317,900 shares during the period. Reinhart Partners LLC. lifted its stake in shares of AdaptHealth by 10.6% during the 4th quarter. Reinhart Partners LLC. now owns 8,100,785 shares of the company’s stock worth $80,684,000 after buying an additional 773,727 shares during the last quarter. Hudson Edge Investment Partners Inc. bought a new stake in shares of AdaptHealth during the 4th quarter worth about $614,000. Finally, Aristeia Capital L.L.C. acquired a new position in AdaptHealth in the 4th quarter valued at about $749,000. 82.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AHCO has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of AdaptHealth in a report on Friday, May 22nd. Wall Street Zen raised AdaptHealth from a “hold” rating to a “buy” rating in a research report on Sunday, June 14th. Truist Financial increased their target price on AdaptHealth from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Jefferies Financial Group reissued a “hold” rating and set a $11.00 price target on shares of AdaptHealth in a report on Monday, April 20th. Finally, Canaccord Genuity Group upped their price objective on AdaptHealth from $14.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.86.

AdaptHealth Price Performance

Shares of AdaptHealth stock opened at $10.96 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.92 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -17.68, a price-to-earnings-growth ratio of 0.56 and a beta of 1.45. AdaptHealth Corp. has a twelve month low of $8.51 and a twelve month high of $13.43. The company has a 50-day simple moving average of $10.25 and a two-hundred day simple moving average of $10.63.

Insider Buying and Selling at AdaptHealth

In other news, insider Russell E. Schuster III sold 11,275 shares of AdaptHealth stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $10.06, for a total value of $113,426.50. Following the completion of the sale, the insider directly owned 136,538 shares in the company, valued at approximately $1,373,572.28. The trade was a 7.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.95% of the company’s stock.

AdaptHealth Company Profile

AdaptHealth, Inc operates as a leading provider of home medical equipment (HME) and related services in the United States. The company focuses on delivering respiratory care, mobility solutions and bathroom safety products to patients with chronic and acute medical needs. Through its comprehensive service offerings, AdaptHealth aims to enhance quality of life and clinical outcomes for patients who require long-term support outside of a hospital setting.

The company’s respiratory portfolio includes products such as continuous positive airway pressure (CPAP) devices, oxygen concentrators, ventilators, and associated supplies for patients with sleep apnea, COPD and other pulmonary conditions.