AdaptHealth Corp. (NASDAQ:AHCO) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in AdaptHealth Corp. (NASDAQ:AHCO) by 9.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 389,310 shares of the company’s stock after selling 38,270 shares during the quarter. Principal Financial Group Inc. owned about 0.29% of AdaptHealth worth $3,893,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Innealta Capital LLC acquired a new position in AdaptHealth in the 2nd quarter worth approximately $101,000. Allspring Global Investments Holdings LLC acquired a new position in AdaptHealth in the 2nd quarter worth approximately $113,000. Bank of New York Mellon Corp increased its holdings in AdaptHealth by 2.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 746,211 shares of the company’s stock worth $7,462,000 after buying an additional 20,599 shares during the period. SummerHaven Investment Management LLC increased its holdings in AdaptHealth by 2.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 57,645 shares of the company’s stock worth $576,000 after buying an additional 1,503 shares during the period. Finally, Blue Trust Inc. acquired a new position in AdaptHealth in the 2nd quarter worth approximately $85,000. Institutional investors and hedge funds own 82.67% of the company’s stock.

AdaptHealth Price Performance

AdaptHealth stock opened at $10.88 on Wednesday. The company’s fifty day moving average price is $10.54 and its 200 day moving average price is $10.37. AdaptHealth Corp. has a 1 year low of $6.37 and a 1 year high of $11.90. The stock has a market capitalization of $1.46 billion, a P/E ratio of -2.06, a P/E/G ratio of 1.81 and a beta of 1.10. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.94 and a current ratio of 1.15.

AdaptHealth (NASDAQ:AHCO) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). AdaptHealth had a negative net margin of 21.20% and a positive return on equity of 9.58%. The company had revenue of $805.98 million during the quarter, compared to analyst estimates of $802.62 million. During the same period in the prior year, the business posted $0.16 EPS. AdaptHealth’s revenue was up 1.6% compared to the same quarter last year. As a group, equities research analysts anticipate that AdaptHealth Corp. will post 0.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

AHCO has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of AdaptHealth in a research note on Monday, August 12th. Truist Financial reaffirmed a “buy” rating and set a $13.00 price objective on shares of AdaptHealth in a research note on Wednesday, May 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.70.

Insider Activity at AdaptHealth

In related news, Director David Solomon Williams III sold 4,000 shares of AdaptHealth stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $11.26, for a total value of $45,040.00. Following the sale, the director now owns 36,899 shares of the company’s stock, valued at approximately $415,482.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.43% of the stock is owned by corporate insiders.

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.