We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Acadia Healthcare (ACHC) to Build Behavioral Health Unit in Mesa
Read MoreHide Full Article
Acadia Healthcare Company, Inc. (ACHC - Free Report) recently conducted a groundbreaking ceremony for commencing the construction on its hospital site located in Mesa, AZ. Requests to build the Mesa facility were submitted by ACHC to the city’s planning division in June 2022 and after almost two months, the project received a nod.
Equipped to house 100 beds, the acute care behavioral health unit has been named Agave Ridge Behavioral Hospital and is expected to be operational in early 2024.
The new hospital will extend a comprehensive suite of inpatient behavioral healthcare services that will provide enhanced treatment to adults, older adults and pediatric patients grappling with severe behavioral health disorders. Subsequently, patients across Mesa and neighboring communities will breathe a sigh of relief with the availability of enhanced behavioral healthcare resources offered by Acadia Healthcare’s Mesa hospital.
The facility reflects one of the longstanding endeavors of Acadia Healthcare, to address the nationwide shortage of mental health resources by delving deeper into several underserved U.S. regions. Such initiatives are also likely to solidify the trust which individuals place in ACHC’s facilities and fetch greater revenues for the behavioral healthcare services provider.
The promptness to inaugurate the Mesa facility within a reasonable timeline seems prudent on the part of Acadia Healthcare as well. The reason can be attributed to the acute shortage of behavioral healthcare facilities across Arizona and the significant population of the state that suffers from mental health diseases.
To testify the same, Arizona’s Maricopa County, of which Mesa is a part, suffers from an acute deficit of behavioral health beds. Per data compiled from the Treatment Advocacy Center, U.S. Census Bureau and American Hospital Directory, the County currently contains 1,492 behavioral health beds which fall short of the 2,331 beds required to address its behavioral healthcare needs. Also, the National Institutes of Health states that one in every five U.S. people grapples with a mental health disease which equates to more than one million sufferers aged 12 and above in Arizona.
Acadia Healthcare often resorts to buyouts or joint ventures (JVs) with renowned U.S. health systems for inaugurating new hospitals or expanding existing facilities through bed additions. Its healthcare portfolio comprised 250 behavioral healthcare facilities across 39 states and Puerto Rico as of Dec 31, 2022. 2023, similar to 2022, is also likely to be a promising year for ACHC with respect to its growth-related initiatives. It aims to add roughly 300 beds to its existing facilities as well as open two inpatient de novo facilities, two JV facilities and a minimum of six comprehensive treatment centers (CTCs) this year.
Shares of Acadia Healthcare have rallied 12.6% in a year against the industry’s 11.5% decline. ACHC currently carries a Zacks Rank #3 (Hold).
Novo Nordisk’s earnings surpassed the Zacks Consensus Estimate in three of the last four quarters and missed the mark once, the average beat being 3%. The Zacks Consensus Estimate for NVO’s 2023 earnings suggests an improvement of 28%, while the same for revenues indicates growth of 19.1% from the respective 2022 reported figures.
The Zacks Consensus Estimate for NVO’s 2023 earnings has moved 1.8% north in the past seven days. Shares of Novo Nordisk have rallied 37% in a year.
Alcon’s earnings surpassed estimates in three of the last four quarters and matched the mark once, the average being 12.37%. The Zacks Consensus Estimate for ALC’s 2023 earnings indicates a 14.3% rise, while the same for revenues suggests an improvement of 7.2% from the respective 2022 reported figures.
The consensus mark for ALC’s 2023 earnings has moved 2% north in the past 30 days. Shares of Alcon have lost 11.3% in a year.
Humana’s earnings outpaced estimates in each of the trailing four quarters, the average being 12.95%. The Zacks Consensus Estimate for HUM’s 2023 earnings indicates a 11.2% rise, while the same for revenues suggests an improvement of 11.9% from the respective 2022 reported figures.
The consensus mark for HUM’s 2023 earnings has moved up 0.5% in the past 30 days. Shares of Humana have gained 15.5% in a year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Acadia Healthcare (ACHC) to Build Behavioral Health Unit in Mesa
Acadia Healthcare Company, Inc. (ACHC - Free Report) recently conducted a groundbreaking ceremony for commencing the construction on its hospital site located in Mesa, AZ. Requests to build the Mesa facility were submitted by ACHC to the city’s planning division in June 2022 and after almost two months, the project received a nod.
Equipped to house 100 beds, the acute care behavioral health unit has been named Agave Ridge Behavioral Hospital and is expected to be operational in early 2024.
The new hospital will extend a comprehensive suite of inpatient behavioral healthcare services that will provide enhanced treatment to adults, older adults and pediatric patients grappling with severe behavioral health disorders. Subsequently, patients across Mesa and neighboring communities will breathe a sigh of relief with the availability of enhanced behavioral healthcare resources offered by Acadia Healthcare’s Mesa hospital.
The facility reflects one of the longstanding endeavors of Acadia Healthcare, to address the nationwide shortage of mental health resources by delving deeper into several underserved U.S. regions. Such initiatives are also likely to solidify the trust which individuals place in ACHC’s facilities and fetch greater revenues for the behavioral healthcare services provider.
The promptness to inaugurate the Mesa facility within a reasonable timeline seems prudent on the part of Acadia Healthcare as well. The reason can be attributed to the acute shortage of behavioral healthcare facilities across Arizona and the significant population of the state that suffers from mental health diseases.
To testify the same, Arizona’s Maricopa County, of which Mesa is a part, suffers from an acute deficit of behavioral health beds. Per data compiled from the Treatment Advocacy Center, U.S. Census Bureau and American Hospital Directory, the County currently contains 1,492 behavioral health beds which fall short of the 2,331 beds required to address its behavioral healthcare needs. Also, the National Institutes of Health states that one in every five U.S. people grapples with a mental health disease which equates to more than one million sufferers aged 12 and above in Arizona.
Acadia Healthcare often resorts to buyouts or joint ventures (JVs) with renowned U.S. health systems for inaugurating new hospitals or expanding existing facilities through bed additions. Its healthcare portfolio comprised 250 behavioral healthcare facilities across 39 states and Puerto Rico as of Dec 31, 2022. 2023, similar to 2022, is also likely to be a promising year for ACHC with respect to its growth-related initiatives. It aims to add roughly 300 beds to its existing facilities as well as open two inpatient de novo facilities, two JV facilities and a minimum of six comprehensive treatment centers (CTCs) this year.
Shares of Acadia Healthcare have rallied 12.6% in a year against the industry’s 11.5% decline. ACHC currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the Medical space are Novo Nordisk A/S (NVO - Free Report) , Alcon Inc. (ALC - Free Report) and Humana Inc. (HUM - Free Report) . While Novo Nordisk sports a Zacks Rank #1 (Strong Buy), Alcon and Humana carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Novo Nordisk’s earnings surpassed the Zacks Consensus Estimate in three of the last four quarters and missed the mark once, the average beat being 3%. The Zacks Consensus Estimate for NVO’s 2023 earnings suggests an improvement of 28%, while the same for revenues indicates growth of 19.1% from the respective 2022 reported figures.
The Zacks Consensus Estimate for NVO’s 2023 earnings has moved 1.8% north in the past seven days. Shares of Novo Nordisk have rallied 37% in a year.
Alcon’s earnings surpassed estimates in three of the last four quarters and matched the mark once, the average being 12.37%. The Zacks Consensus Estimate for ALC’s 2023 earnings indicates a 14.3% rise, while the same for revenues suggests an improvement of 7.2% from the respective 2022 reported figures.
The consensus mark for ALC’s 2023 earnings has moved 2% north in the past 30 days. Shares of Alcon have lost 11.3% in a year.
Humana’s earnings outpaced estimates in each of the trailing four quarters, the average being 12.95%. The Zacks Consensus Estimate for HUM’s 2023 earnings indicates a 11.2% rise, while the same for revenues suggests an improvement of 11.9% from the respective 2022 reported figures.
The consensus mark for HUM’s 2023 earnings has moved up 0.5% in the past 30 days. Shares of Humana have gained 15.5% in a year.