Bank of Nova Scotia Makes New Investment in Acadia Healthcare Company, Inc. $ACHC

Key Points

• Bank of Nova Scotia acquired 495,632 shares of Acadia Healthcare during the second quarter, valued at approximately $14.6 million and representing a 0.53% stake.
• Several major institutions also increased or initiated positions, including BlackRock, Goldman Sachs, Jefferies, Wellington Management and Vaughan Nelson Investment Management.
• Analyst sentiment remains mixed: the consensus rating is Hold with an average price target of $29.85, while Acadia’s latest quarterly results beat estimates with $0.38 in EPS and $865.84 million in revenue.

Bank of Nova Scotia purchased a new stake in shares of Acadia Healthcare Company, Inc. (NASDAQ:ACHC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 495,632 shares of the company's stock, valued at approximately $14,636,000. Bank of Nova Scotia owned 0.53% of Acadia Healthcare at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ACHC. BlackRock Inc. purchased a new position in shares of Acadia Healthcare in the 2nd quarter worth approximately $441,685,000. Goldman Sachs Group Inc. lifted its position in Acadia Healthcare by 417.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,728,613 shares of the company's stock valued at $67,099,000 after acquiring an additional 3,815,471 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in Acadia Healthcare in the fourth quarter valued at approximately $47,960,000. Wellington Management Group LLP grew its holdings in Acadia Healthcare by 24.9% in the fourth quarter. Wellington Management Group LLP now owns 11,774,308 shares of the company's stock worth $167,077,000 after purchasing an additional 2,350,760 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in shares of Acadia Healthcare during the first quarter worth $43,017,000.

Analyst Ratings Changes

ACHC has been the subject of a number of recent analyst reports. KeyCorp raised their price objective on Acadia Healthcare from $30.00 to $40.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 14th. Jefferies Financial Group raised shares of Acadia Healthcare from a "hold" rating to a "buy" rating and increased their price objective for the company from $24.50 to $30.00 in a research report on Wednesday, June 3rd. Cantor Fitzgerald reissued a "neutral" rating on shares of Acadia Healthcare in a research report on Wednesday, July 29th. Weiss Ratings restated a "sell (d)" rating on shares of Acadia Healthcare in a research note on Friday, June 12th. Finally, TD Cowen raised their price target on shares of Acadia Healthcare from $30.00 to $36.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $29.85.

Acadia Healthcare Price Performance

Shares of NASDAQ ACHC opened at $28.72 on Tuesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of -2.31, a PEG ratio of 9.01 and a beta of 0.64. The firm's 50 day simple moving average is $30.04 and its 200-day simple moving average is $25.69. Acadia Healthcare Company, Inc. has a 12 month low of $11.43 and a 12 month high of $35.83.

Acadia Healthcare (NASDAQ:ACHC - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.35 by $0.03. Acadia Healthcare had a negative net margin of 33.44% and a positive return on equity of 6.19%. The company had revenue of $865.84 million for the quarter, compared to analyst estimates of $844.19 million. During the same quarter last year, the business earned $0.83 earnings per share. The firm's revenue was down .4% on a year-over-year basis. Acadia Healthcare has set its FY 2026 guidance at 1.450-1.600 EPS. Analysts expect that Acadia Healthcare Company, Inc. will post 1.54 EPS for the current year.

Acadia Healthcare Company Profile

Acadia Healthcare Company, Inc NASDAQ: ACHC is a publicly traded provider of behavioral healthcare services headquartered in Franklin, Tennessee. Founded in 2005, the company has grown through organic expansion and strategic acquisitions to establish itself as a leading specialist in mental health and addiction treatment across the United States.

Acadia operates a diversified network of inpatient psychiatric hospitals, residential treatment centers, outpatient clinics and intensive outpatient programs.

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