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

Principal Financial Group Inc. increased its position in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 25.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,784,316 shares of the company’s stock after purchasing an additional 558,357 shares during the quarter. Principal Financial Group Inc.’s holdings in AdaptHealth were worth $33,133,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AHCO. Vanguard Group Inc. raised its position in shares of AdaptHealth by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 11,768,599 shares of the company’s stock valued at $117,215,000 after buying an additional 491,106 shares in the last quarter. Deerfield Management Company L.P. boosted its position in shares of AdaptHealth by 15.9% during the 3rd quarter. Deerfield Management Company L.P. now owns 11,477,730 shares of the company’s stock worth $102,726,000 after acquiring an additional 1,572,835 shares in the last quarter. Reinhart Partners LLC. increased its stake in AdaptHealth by 10.6% in the fourth quarter. Reinhart Partners LLC. now owns 8,100,785 shares of the company’s stock valued at $80,684,000 after acquiring an additional 773,727 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in AdaptHealth by 7.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,402,699 shares of the company’s stock valued at $63,773,000 after acquiring an additional 420,629 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in AdaptHealth by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 2,627,306 shares of the company’s stock valued at $26,173,000 after purchasing an additional 19,998 shares in the last quarter. 82.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Canaccord Genuity Group upped their target price on AdaptHealth from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings reissued a “sell (d)” rating on shares of AdaptHealth in a report on Friday, May 22nd. Royal Bank Of Canada upped their price objective on AdaptHealth from $13.00 to $15.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $11.00 price objective on shares of AdaptHealth in a research note on Monday, April 20th. Finally, Truist Financial lifted their target price on AdaptHealth from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $13.86.

AdaptHealth Stock Performance

Shares of AdaptHealth stock opened at $10.96 on Monday. The company’s 50 day moving average price is $10.25 and its two-hundred day moving average price is $10.63. The firm has a market capitalization of $1.49 billion, a P/E ratio of -17.68, a P/E/G ratio of 0.56 and a beta of 1.45. AdaptHealth Corp. has a fifty-two week low of $8.51 and a fifty-two week high of $13.43. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.92 and a quick ratio of 0.71.

Insider Activity at AdaptHealth

In related news, insider Russell E. Schuster III sold 11,275 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $10.06, for a total transaction of $113,426.50. Following the sale, the insider owned 136,538 shares of the company’s stock, valued at $1,373,572.28. This trade represents a 7.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.