Acadia Healthcare (NASDAQ:ACHC) Company, Inc. (NASDAQ:ACHC) disclosed today that it experienced a 3.2% increase in same-facility patient days for the quarter ending December 31, 2024, aligning with its previously stated expectations. The company, which maintains a "GREAT" financial health score according to InvestingPro analysis, has demonstrated consistent revenue growth of 9.1% over the last twelve months. This update was shared in anticipation of the company's senior management team's participation in the J.P. Morgan Healthcare Conference this week.
The growth figure represents a year-over-year comparison, demonstrating a steady performance in the company's operations. Acadia Healthcare, a provider of behavioral healthcare services, had projected this growth range on October 31, 2024, indicating a consistent trajectory in its service demand. With a current market capitalization of $4.17 billion and trading at $44.92, InvestingPro analysis suggests the stock is currently undervalued. Subscribers can access 12 additional ProTips and comprehensive valuation metrics through InvestingPro's detailed research reports.
This financial information, provided in a recent 8-K filing with the Securities and Exchange Commission, offers investors and stakeholders a glimpse into the company's operational performance. The company maintains healthy profitability metrics, with a gross profit margin of 43.1% and positive earnings expectations for the coming year. The details of this filing serve as the basis for understanding the company's current state and are not accompanied by subjective commentary or analysis.
The announcement from Acadia Healthcare, headquartered in Franklin, Tennessee, comes amidst its ongoing efforts to meet with investors and discuss the company's performance and future prospects. The company, incorporated in Delaware, operates under the Specialty Outpatient Facilities sector, according to the Standard Industrial Classification (SIC) system.
It is important to note that the information shared is based on a press release statement and represents a factual account of Acadia Healthcare's operational results as of the end of 2024.
In other recent news, Acadia Healthcare has been the subject of several analyst reports. TD (TSX:TD) Cowen analysts revised their outlook on the company, reducing the price target from $70.00 to $66.00 while maintaining a Buy rating. This adjustment was primarily due to an update in the company's financial model, which now accounts for increased startup expenses and additional costs related to compliance and the ramp-up of new facilities. The forecasted annual EBITDA for Acadia Healthcare has been decreased by approximately 4%.
KeyBanc Capital Markets, on the other hand, upgraded the stock rating of Acadia Healthcare to Overweight, indicating a positive shift in perspective. The firm anticipates a dynamic year ahead for the healthcare sector, with hospitals likely to experience continued EBITDA tailwinds due to a favorable volume environment, increased Health Insurance Exchange (HIX) enrollment, and Medicaid Direct Primary Care programs (DPPs).
Acadia Healthcare reported an 8.7% increase in total revenue for the third quarter of 2024, primarily driven by patient day growth and rate improvements. The company's adjusted EBITDA also saw a growth of 10.5%, reaching $194.3 million. Despite facing legal inquiries and a temporary dip in patient day growth in October, Acadia Healthcare is expanding its bed capacity and projects the addition of approximately 1,200 new beds in 2024, with further investments in over 2,000 additional beds.
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