Trade Report: The Bank of America Corp. lowers the Stock rating of Adeptus Health Inc. (ADPT)

The Bank of America Corp. lowers the Stock rating of Adeptus Health Inc. (ADPT)

Adeptus Health Inc. (NYSE:ADPT) was downgraded by equities research analysts at Bank of America Corp. from a “buy” rating to an “underperform” rating in a research report issued to clients and investors on Wednesday.

ADPT has been the topic of a number of other reports. Jefferies Group restated a “buy” rating and issued a $113.00 price objective (down from $125.00) on shares of Adeptus Health in a research note on Monday, July 11th. Zacks Investment Research cut Adeptus Health from a “buy” rating to a “strong sell” rating in a research note on Wednesday, July 13th. JMP Securities restated a “buy” rating on shares of Adeptus Health in a research note on Thursday, September 22nd. Finally, Goldman Sachs Group Inc. set a $80.00 price objective on Adeptus Health and gave the company a “buy” rating in a research note on Thursday, September 8th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Adeptus Health has a consensus rating of “Hold” and an average target price of $44.80.

Adeptus Health (NYSE:ADPT) traded up 0.10% on Wednesday, reaching $10.01. The company had a trading volume of 324,080 shares. Adeptus Health has a 12-month low of $7.91 and a 12-month high of $73.44. The stock has a market capitalization of $164.11 million, a P/E ratio of 1.77 and a beta of 1.22. The stock’s 50-day moving average price is $22.87 and its 200-day moving average price is $43.11.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Municipal Employees Retirement System of Michigan raised its position in shares of Adeptus Health by 2.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 2,990 shares of the company’s stock valued at $129,000 after buying an additional 70 shares during the last quarter. Lebenthal Lisanti Capital Growth LLC raised its position in shares of Adeptus Health by 1.1% in the second quarter. Lebenthal Lisanti Capital Growth LLC now owns 10,790 shares of the company’s stock valued at $557,000 after buying an additional 120 shares during the last quarter. Loomis Sayles & Co. L P raised its position in shares of Adeptus Health by 0.8% in the first quarter. Loomis Sayles & Co. L P now owns 22,234 shares of the company’s stock valued at $1,235,000 after buying an additional 183 shares during the last quarter. American International Group Inc. raised its position in shares of Adeptus Health by 2.7% in the third quarter. American International Group Inc. now owns 9,643 shares of the company’s stock valued at $415,000 after buying an additional 252 shares during the last quarter. Finally, Mariner Investment Group LLC raised its position in shares of Adeptus Health by 1.3% in the second quarter. Mariner Investment Group LLC now owns 39,000 shares of the company’s stock valued at $2,015,000 after buying an additional 500 shares during the last quarter.

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