Accendra Health (NYSE:ACH) Posts Quarterly Earnings Results, Misses Expectations By $0.18 EPS

Accendra Health (NYSE:ACH) announced its earnings results on Thursday. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.18), FiscalAI reports. The firm had revenue of $601.77 million during the quarter. Accendra Health had a negative net margin of 11.41% and a negative return on equity of 4.02%.

Accendra Health Price Performance

Shares of NYSE:ACH traded up $0.00 during trading on Thursday, reaching $0.28. 2,209,016 shares of the company were exchanged, compared to its average volume of 1,396,493. The business’s fifty day simple moving average is $0.64 and its 200-day simple moving average is $2.13. Accendra Health has a 12-month low of $0.19 and a 12-month high of $4.69. The firm has a market capitalization of $21.53 million, a PE ratio of -0.07 and a beta of 1.60.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ACH. BlackRock Inc. purchased a new stake in shares of Accendra Health in the 2nd quarter worth $18,824,000. Bank of America Corp DE purchased a new position in shares of Accendra Health during the second quarter valued at $12,912,000. Paradigm Capital Management Inc. NY bought a new stake in shares of Accendra Health in the second quarter valued at about $8,676,000. Dimensional Fund Advisors LP bought a new stake in shares of Accendra Health in the first quarter valued at about $5,943,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Accendra Health in the second quarter worth about $4,408,000.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Robert W. Baird downgraded shares of Accendra Health from an “outperform” rating to a “neutral” rating and set a $1.50 price target on the stock. in a report on Tuesday, August 11th. UBS Group dropped their target price on Accendra Health from $4.50 to $1.50 and set a “neutral” rating for the company in a research report on Thursday, August 13th. Zacks Research raised Accendra Health from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Citigroup downgraded Accendra Health from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $4.50 to $1.50 in a report on Monday, August 10th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Accendra Health in a research note on Tuesday. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Accendra Health presently has a consensus rating of “Reduce” and a consensus target price of $1.50.

About Accendra Health

Accendra Health Inc is a nationwide provider of products, technology, and services that support health beyond the hospital by connecting patients, providers, and insurers. Through its brands, Apria and Byram Healthcare, the company delivers disposable medical supplies, integrated home healthcare equipment, and related services that help improve health outcomes and quality of life for individuals with chronic, complex, and acute health conditions. Its offerings span diabetes treatment, home respiratory therapy, and obstructive sleep apnea treatment, along with patient support services.