[Zacks] Adeptus Health Inc (NYSE:ADPT) (TREND ANALYSIS) is an operator of a network of emergency rooms that that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on ADPT’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Adeptus Health could be a solid choice for investors.
In the past 30 days, the earnings estimates revision trend has been pretty favorable, with estimates increasing from 17 cents a share 30 days ago, to 31 cents today, a move of 82.4%.
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Adeptus Health Inc (NYSE:ADPT) stock is currently trading 10.57% below its 52-week-high, 360.42% above its 52-week-low. The 1-year stock price history is in the range of $24.08 – $123.97. Adeptus Health Inc (ADPT) has a price to earnings ratio of 113.83 versus Healthcare sector average of 40.53. ADPT stock price has outperformed the S&P 500 by 194.8%. The Healthcare Services company is currently valued at $1.28 billion and its share price closed the last trading session at $110.87. The stock has a 50-day moving average of $102.28 and a 200-day moving average of $67.31.
Adeptus Health Inc (ADPT) current short interest stands at 1.9 million shares. It has increased by 81% from the same period of last month. Around 63% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.42 million shares, the number of days required to cover the short positions stand at 4.5 days.
ADPT reported last quarter earnings on July 23. The Healthcare Services company announced earnings per share of $0.38 against a consensus Street estimate of $0.1, beating the average estimate by $0.28.
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There are currently eleven analysts that cover Adeptus Health Inc stock. Of those eleven, ten have a Buy rating, one has a Hold rating. On a consensus basis this yields to a Buy rating. The consensus target price stands at $124.73.
A recent analyst activity consisted of Piper Jaffray reiterating their Overweight stance on August 13. Piper Jaffray increased their price target on ADPT from $109 to $130. This corresponds to a 17.25% upside from the last closing price. On the date of report, the stock closed at $110.87.
Jefferies initiated their coverage on the stock with Buy rating on August 3, and fixed their price target at $135. This corresponds to a 21.76% upside from the last closing price. On the date of report, the stock closed at $113.45.
Another research firm was Bank of America who initiated their coverage on the stock with Buy rating on June 23. Bank of America fixed their price target at $105. This translates to a 5.29% downside from the last closing price. On the date of report, the stock closed at $90.
Adeptus Health Inc. operates an independent network of free-standing emergency rooms. The Company provides emergency medical care to patients in Texas and Colorado.