Mason Street Advisors LLC Takes Position in Adeptus Health Inc. (ADPT)
Mason Street Advisors LLC acquired a new position in shares of Adeptus Health Inc. (NYSE:ADPT) during the second quarter, Holdings Channel reports. The fund acquired 2,635 shares of the company’s stock, valued at approximately $136,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADPT. Royal Bank of Canada boosted its position in Adeptus Health by 5,776.3% in the second quarter. Royal Bank of Canada now owns 136,918 shares of the company’s stock worth $7,073,000 after buying an additional 134,588 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Adeptus Health by 29.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 46,012 shares of the company’s stock worth $2,377,000 after buying an additional 10,510 shares during the last quarter. Redmile Group LLC purchased a new position in Adeptus Health during the second quarter worth $8,445,000. Metropolitan Life Insurance Co. NY boosted its position in Adeptus Health by 104.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 9,329 shares of the company’s stock worth $482,000 after buying an additional 4,777 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in Adeptus Health by 14.8% in the second quarter. Arizona State Retirement System now owns 7,000 shares of the company’s stock worth $362,000 after buying an additional 900 shares during the last quarter.
Adeptus Health Inc. (NYSE:ADPT) opened at 38.95 on Monday. Adeptus Health Inc. has a 52-week low of $35.33 and a 52-week high of $90.71. The company’s 50-day moving average is $40.68 and its 200-day moving average is $51.67. The firm has a market capitalization of $636.83 million, a price-to-earnings ratio of 5.93 and a beta of 0.96.
Adeptus Health (NYSE:ADPT) last released its earnings results on Thursday, July 21st. The company reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.03. Adeptus Health had a return on equity of 14.74% and a net margin of 22.99%. The firm earned $100.20 million during the quarter, compared to analyst estimates of $93.92 million. During the same quarter last year, the business posted $0.44 EPS. The firm’s revenue was up 36.2% on a year-over-year basis. Equities analysts predict that Adeptus Health Inc. will post $2.46 earnings per share for the current year.
A number of analysts have recently commented on ADPT shares. JMP Securities reissued a “buy” rating on shares of Adeptus Health in a research note on Thursday, September 22nd. Goldman Sachs Group Inc. set a $80.00 target price on shares of Adeptus Health and gave the stock a “buy” rating in a research note on Thursday, September 8th. Jefferies Group set a $77.00 target price on shares of Adeptus Health and gave the stock a “buy” rating in a research note on Thursday, September 8th. Finally, Zacks Investment Research cut shares of Adeptus Health from a “buy” rating to a “strong sell” rating in a research note on Wednesday, July 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $86.50.
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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