Adeptus Health was Downgraded to a Hold Rating at Goldman Sachs

By Austin Angelo

Adeptus Health (NYSE: ADPT) received a Hold rating from Goldman Sachs analyst Matthew Borsch today. The company’s shares closed yesterday at $8.79, close to its 52-week low of $8.09.

According to TipRanks.com, Borsch is a 1-star analyst with an average return of -1.7% and a 41.2% success rate. Borsch covers the Healthcare sector, focusing on stocks such as Alexion Pharmaceuticals, WellCare Health Plans, and Universal American.

Currently, the analyst consensus on Adeptus Health is Hold and the average price target is $17, representing a 93.4% upside.

In a report issued on November 2, Stephens also downgraded the stock to Hold.

Based on Adeptus Health’s latest earnings report from June 30, the company posted quarterly revenue of $116.8M and quarterly net profit of $86.95M. In comparison, last year the company earned revenue of $88.21M and had a net profit of $674K.

Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is negative on the stock. Most recently, in June 2014, Richard Covert, a Director at ADPT bought 1,705 shares.

Adeptus Health, Inc. operates as a holding company, which provides hospitality and medical services. It offers emergency rooms, diagnostic services, and on-site laboratory. It operates through the following subsidiaries: First Choice Emergency Rooms, UCHealth, and Diginity Health. The company was founded by Richard Covert in 2002 and is headquartered in Lewisville, TX.