Principal Financial Group Inc. Raises Position in AdaptHealth Corp. (NASDAQ:AHCO)

Principal Financial Group Inc. increased its holdings in AdaptHealth Corp. (NASDAQ:AHCO – Get Rating) by 41.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 665,908 shares of the company’s stock after buying an additional 194,055 shares during the period. Principal Financial Group Inc.’s holdings in AdaptHealth were worth $12,799,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc purchased a new stake in AdaptHealth during the third quarter valued at about $26,000. Group One Trading L.P. raised its position in AdaptHealth by 134.3% during the first quarter. Group One Trading L.P. now owns 3,720 shares of the company’s stock valued at $60,000 after purchasing an additional 2,132 shares in the last quarter. Tower Research Capital LLC TRC raised its position in AdaptHealth by 49.0% during the third quarter. Tower Research Capital LLC TRC now owns 4,957 shares of the company’s stock valued at $93,000 after purchasing an additional 1,630 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in AdaptHealth during the first quarter valued at about $82,000. Finally, KBC Group NV purchased a new stake in AdaptHealth during the third quarter valued at about $120,000. Hedge funds and other institutional investors own 86.33% of the company’s stock.

AdaptHealth Stock Down 3.4 %

NASDAQ AHCO opened at $10.57 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.23 and a quick ratio of 0.97. The stock has a market capitalization of $1.42 billion, a PE ratio of 88.08, a PEG ratio of 0.84 and a beta of 0.66. AdaptHealth Corp. has a 1 year low of $10.00 and a 1 year high of $27.48. The business’s 50-day moving average is $12.01 and its 200 day moving average is $17.32.

AdaptHealth (NASDAQ:AHCO – Get Rating) last posted its earnings results on Monday, February 27th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.30). The business had revenue of $780.28 million during the quarter, compared to the consensus estimate of $787.96 million. AdaptHealth had a return on equity of 3.17% and a net margin of 1.44%. Sell-side analysts forecast that AdaptHealth Corp. will post 0.68 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. TheStreet downgraded AdaptHealth from a “c-” rating to a “d+” rating in a research report on Thursday, April 6th. Bank of America downgraded AdaptHealth from a “buy” rating to a “neutral” rating and lowered their price target for the company from $21.00 to $12.00 in a research report on Tuesday, May 9th. Deutsche Bank Aktiengesellschaft downgraded AdaptHealth from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $28.00 to $11.30 in a report on Wednesday, May 10th. Robert W. Baird decreased their price objective on AdaptHealth from $23.00 to $20.00 in a report on Wednesday, May 10th. Finally, Royal Bank of Canada decreased their price objective on AdaptHealth from $24.00 to $18.00 in a report on Thursday, May 11th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.92.

AdaptHealth Company Profile

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AdaptHealth Corp. engages in the provision of home healthcare equipment, supplies and related services. It focuses on sleep therapy equipment to individuals suffering from obstructive sleep apnea (OSA), home medical equipment to patients discharged from acute care and other facilities, oxygen and related chronic therapy services in the home, and HME medical devices and supplies on behalf of chronically ill patients with diabetes care, wound care, urological, ostomy, and nutritional supply needs.