Connor Clark & Lunn Investment Management Ltd. Invests $4.41 Million in Accendra Health, Inc. $ACH

Key Points

• Connor Clark & Lunn Investment Management acquired 1.29 million Accendra Health shares worth approximately $4.41 million, giving it a 1.68% stake in the company.
• Accendra Health’s shares opened at $1.22, near the lower end of their 52-week range, while the company reported quarterly revenue of $613.23 million and an EPS loss of $0.19—worse than analysts’ expectations.
• Analyst sentiment remains cautious: UBS, Citigroup, and Robert W. Baird set $1.50 price targets, while the consensus rating is “Reduce,” with four Hold ratings and one Sell rating.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Accendra Health, Inc. (NYSE:ACH - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,288,787 shares of the company's stock, valued at approximately $4,408,000. Connor Clark & Lunn Investment Management Ltd. owned about 1.68% of Accendra Health as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Walleye Capital LLC purchased a new stake in Accendra Health in the first quarter worth approximately $27,000. Hsbc Holdings PLC purchased a new stake in Accendra Health during the 1st quarter valued at $34,000. Abel Hall LLC purchased a new stake in Accendra Health during the 1st quarter valued at $44,000. Keybank National Association OH bought a new position in shares of Accendra Health during the 1st quarter valued at $46,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Accendra Health during the 1st quarter valued at $50,000.

Accendra Health Stock Down 0.4%

Shares of Accendra Health stock opened at $1.22 on Friday. The stock's fifty day simple moving average is $2.72. The stock has a market cap of $93.43 million, a PE ratio of -0.31 and a beta of 1.58. Accendra Health, Inc. has a 1-year low of $0.93 and a 1-year high of $5.69.

Accendra Health (NYSE:ACH - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $613.23 million during the quarter. On average, equities research analysts expect that Accendra Health, Inc. will post -0.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Accendra Health Company 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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