Accendra Health, Inc. $ACH Shares Newly Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 3.78 million Accendra Health shares in the second quarter, valued at approximately $12.9 million and representing about 4.91% of the company.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating and a consensus price target of $1.50 after Citigroup and UBS downgraded their ratings and cut targets.
• Accendra Health shares opened at $0.71, near their 52-week low, after the company reported a quarterly loss of $0.19 per share, worse than the $0.13 loss analysts expected.

Bank of America Corp DE bought a new stake in Accendra Health, Inc. (NYSE:ACH - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,775,525 shares of the company's stock, valued at approximately $12,912,000. Bank of America Corp DE owned approximately 4.91% of Accendra Health as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Walleye Capital LLC bought a new stake in Accendra Health during the first quarter worth approximately $27,000. Hsbc Holdings PLC acquired a new stake in shares of Accendra Health in the first quarter valued at $34,000. Abel Hall LLC bought a new position in Accendra Health during the first quarter valued at about $44,000. The Manufacturers Life Insurance Company acquired a new position in Accendra Health during the second quarter worth about $68,000. Finally, Keybank National Association OH acquired a new position in Accendra Health during the first quarter worth about $46,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ACH shares. Weiss Ratings lowered shares of Accendra Health from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, August 6th. Robert W. Baird set a $1.50 target price on shares of Accendra Health and gave the stock a "neutral" rating in a report on Tuesday, August 11th. Citigroup lowered shares of Accendra Health from a "buy" rating to a "neutral" rating and cut their target price for the company from $4.50 to $1.50 in a research note on Monday, August 10th. Finally, UBS Group reduced their target price on shares of Accendra Health from $4.50 to $1.50 and set a "neutral" rating for the company in a report on Thursday, August 13th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $1.50.

Accendra Health Trading Down 2.6%

ACH opened at $0.71 on Friday. The firm has a market cap of $54.89 million, a price-to-earnings ratio of -0.18 and a beta of 1.53. The stock has a 50 day moving average of $1.72. Accendra Health, Inc. has a twelve month low of $0.66 and a twelve month high of $5.60.

Accendra Health (NYSE:ACH - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.06). Accendra Health had a negative net margin of 11.41% and a negative return on equity of 4.02%. The company had revenue of $613.23 million for the quarter. On average, research analysts expect that Accendra Health, Inc. will post -0.03 EPS for the current year.

Accendra Health Profile

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.

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