Principal Financial Group Inc. Sells 223,700 Shares of AdaptHealth Corp. $AHCO

Principal Financial Group Inc. cut its stake in shares of AdaptHealth Corp. (NASDAQ:AHCO) by 9.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,222,675 shares of the company’s stock after selling 223,700 shares during the quarter. Principal Financial Group Inc.’s holdings in AdaptHealth were worth $19,893,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AHCO. AlphaQuest LLC boosted its holdings in shares of AdaptHealth by 275.7% in the 2nd quarter. AlphaQuest LLC now owns 3,941 shares of the company’s stock worth $37,000 after purchasing an additional 2,892 shares in the last quarter. Assetmark Inc. raised its position in shares of AdaptHealth by 87.6% in the 2nd quarter. Assetmark Inc. now owns 5,529 shares of the company’s stock worth $52,000 after acquiring an additional 2,581 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in AdaptHealth by 318.0% during the second quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock valued at $90,000 after buying an additional 7,297 shares during the period. Tidal Investments LLC bought a new stake in AdaptHealth during the second quarter worth about $96,000. Finally, CWM LLC grew its stake in shares of AdaptHealth by 1,562.1% in the second quarter. CWM LLC now owns 10,471 shares of the company’s stock worth $99,000 after acquiring an additional 9,841 shares during the last quarter. 82.67% of the stock is owned by institutional investors.

AdaptHealth Trading Up 1.5%

NASDAQ AHCO opened at $10.65 on Monday. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 1.21 and a beta of 1.72. The firm has a 50 day simple moving average of $10.14 and a 200-day simple moving average of $9.59. AdaptHealth Corp. has a one year low of $7.11 and a one year high of $11.63. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.86 and a current ratio of 1.08.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AHCO. Canaccord Genuity Group boosted their target price on AdaptHealth from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Zacks Research raised shares of AdaptHealth from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Wall Street Zen raised AdaptHealth from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings upgraded AdaptHealth from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, January 30th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $13.60.

Insider Buying and Selling at AdaptHealth

In other news, Director David Solomon Williams III sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $9.43, for a total transaction of $47,150.00. Following the transaction, the director directly owned 45,045 shares in the company, valued at $424,774.35. The trade was a 9.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.55% of the company’s stock.

AdaptHealth 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.