Adeptus Health Inc. (NYSE:ADPT) had its target price raised by equities researchers at Jefferies Group from $77.00 to $100.00 in a report issued on Thursday. The brokerage currently has a “buy” rating on the stock. Jefferies Group’s price objective would suggest a potential upside of 173.22% from the company’s current price.
Other research analysts have also issued research reports about the company. Zacks Investment Research upgraded Adeptus Health from a “sell” rating to a “buy” rating and set a $76.00 price target on the stock in a report on Friday, May 20th. KeyCorp restated a “buy” rating on shares of Adeptus Health in a report on Thursday, June 2nd. Morgan Stanley restated a “hold” rating on shares of Adeptus Health in a report on Tuesday, May 31st. Finally, JMP Securities dropped their target price on Adeptus Health from $94.00 to $92.00 and set a “market outperform” rating on the stock in a report on Wednesday, August 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $90.71.
Adeptus Health (NYSE:ADPT) traded up 2.52% during mid-day trading on Thursday, reaching $36.60. The company had a trading volume of 1,148,867 shares. Adeptus Health has a 12-month low of $35.33 and a 12-month high of $121.76. The stock has a 50-day moving average of $43.95 and a 200 day moving average of $54.78. The company has a market capitalization of $598.41 million, a price-to-earnings ratio of 5.58 and a beta of 0.96.
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Adeptus Health (NYSE:ADPT) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by $0.03. The business earned $100.20 million during the quarter, compared to analyst estimates of $93.92 million. The business’s quarterly revenue was up 36.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 EPS. On average, analysts expect that Adeptus Health will post $2.46 EPS for the current year.
Several hedge funds have modified their holdings of ADPT. Seven Eight Capital LLC acquired a new stake in shares of Adeptus Health during the first quarter worth approximately $101,000. Royal Bank of Canada increased its stake in shares of Adeptus Health by 1,036.6% in the first quarter. Royal Bank of Canada now owns 2,330 shares of the company’s stock worth $130,000 after buying an additional 2,125 shares during the last quarter. Springbok Capital Management LLC acquired a new stake in shares of Adeptus Health during the first quarter worth approximately $151,000. BNP Paribas Arbitrage SA increased its stake in shares of Adeptus Health by 124.6% in the second quarter. BNP Paribas Arbitrage SA now owns 4,169 shares of the company’s stock worth $215,000 after buying an additional 2,313 shares during the last quarter. Finally, M&T Bank Corp acquired a new stake in shares of Adeptus Health during the first quarter worth approximately $216,000.
About Adeptus Health
Adeptus Health Inc is a patient-centered healthcare company. The Company is engaged in providing emergency medical care through a network of independent freestanding emergency rooms in the United States and partnerships with various healthcare systems. The Company has approximately 80 freestanding facilities and over two licensed general hospitals.
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