BlackRock Inc. Acquires New Stake in Accendra Health, Inc. $ACH

Key Points

• BlackRock acquired 5.5 million shares of Accendra Health in the second quarter, worth approximately $18.8 million and representing a 7.19% ownership stake.
• Accendra Health reported quarterly revenue of $613.2 million but missed earnings estimates, posting a loss of $0.19 per share versus the expected $0.13 loss.
• Analyst sentiment is cautious: multiple firms downgraded the stock or cut price targets to $1.50, while the consensus rating is “Reduce.”

BlackRock Inc. acquired a new stake in Accendra Health, Inc. (NYSE:ACH - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,504,102 shares of the company's stock, valued at approximately $18,824,000. BlackRock Inc. owned 7.19% of Accendra Health as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. Walleye Capital LLC acquired a new stake in shares of Accendra Health in the first quarter valued at about $27,000. Hsbc Holdings PLC purchased a new stake in shares of Accendra Health during the 1st quarter worth approximately $34,000. Abel Hall LLC acquired a new stake in shares of Accendra Health in the 1st quarter worth approximately $44,000. Keybank National Association OH acquired a new stake in shares of Accendra Health in the 1st quarter worth approximately $46,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Accendra Health in the 1st quarter valued at approximately $50,000.

Accendra Health Stock Performance

NYSE ACH opened at $1.24 on Friday. The firm has a market cap of $95.36 million, a P/E ratio of -0.32 and a beta of 1.53. Accendra Health, Inc. has a 12 month low of $0.93 and a 12 month high of $5.69. The company's 50-day moving average is $2.52.

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 return on equity of 4.02% and a negative net margin of 11.41%.The firm had revenue of $613.23 million for the quarter. On average, analysts expect that Accendra Health, Inc. will post -0.03 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.

Want to see what other hedge funds are holding ACH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Accendra Health, Inc. (NYSE:ACH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.