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Acadia Healthcare (ACHC) Opens Facility to Address Mental Health
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Acadia Healthcare Company, Inc. (ACHC - Free Report) recently inaugurated its new acute care hospital in Mesa, AZ. The new facility, Agave Ridge Behavioral Hospital, is equipped with 100 beds. Once the hospital concludes its final preparations to become fully operational, admissions of patients are expected to commence.
This new facility will provide a comprehensive suite of inpatient behavioral healthcare services for treating the adult, older adult and pediatric patient populace grappling with acute symptoms of bipolar disorder, depression, anxiety and posttraumatic stress disorder. This move bodes well for ACHC, as many residents in the area struggle with addiction and mental health issues. Local officials have also supported the company in this effort. This newly opened facility takes ACHC’s purpose of ‘Lead Care with Light’ forward.
Increased access to enhanced behavioral healthcare services, will give a sigh of relief to patients in Mesa. The establishment of the hospital across a region that suffers from inadequate access to high-quality behavioral healthcare services seems to be a time-opportune move on the part of Acadia Healthcare. Mesa and surrounding communities have a shortage of roughly 800 behavioral health beds, which highlights the importance of the new facility to the region’s patients.
Acadia Healthcare aims to expand this important area of business by addressing the nationwide concern of growing mental health issues among Americans. The Opioid epidemic is likely to poise more opportunities for ACHC’s growth. An expanding behavioral healthcare facility portfolio as a result of moves similar to the latest one implies greater patient volumes, thereby increasing the usage of ACHC’s services. This, in turn, may fetch higher top-line growth to the behavioral healthcare services provider. ACHC expects to add more than 1,200 beds in 2024.
Acadia Healthcare takes the help of renowned U.S. health systems to construct behavioral health hospitals and expand its reach. ACHC’s healthcare portfolio comprised 253 behavioral healthcare facilities across 38 states and Puerto Rico as of Dec 31, 2023.
Shares of Acadia Healthcare have lost 0.6% in the year-to-date period against the industry’s 18.9% growth. ACHC currently carries a Zacks Rank #3 (Hold).
The Zacks Consensus Estimate for Universal Health Services’ 2024 bottom line suggests 27% year-over-year growth. UHS has witnessed one upward estimate revision over the past 30 days against no movement in the opposite direction. It beat earnings estimates in all the last four quarters, with an average surprise of 5.9%.
The Zacks Consensus Estimate for Cigna’s full-year 2024 earnings indicates a 13% year-over-year increase. CI beat earnings estimates in each of the past four quarters, with an average surprise of 2.9%. The consensus mark for revenues suggests 20.4% growth from the year-ago period.
The Zacks Consensus Estimate for Health Catalyst’s 2024 full-year earnings implies a 120% increase from the year-ago reported figure. HCAT beat earnings estimates in each of the last four quarters, with an average surprise of 247.9%. The consensus mark for its current-year revenues is pegged at $308.2 million, which indicates a 4.2% year-over-year increase.
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Acadia Healthcare (ACHC) Opens Facility to Address Mental Health
Acadia Healthcare Company, Inc. (ACHC - Free Report) recently inaugurated its new acute care hospital in Mesa, AZ. The new facility, Agave Ridge Behavioral Hospital, is equipped with 100 beds. Once the hospital concludes its final preparations to become fully operational, admissions of patients are expected to commence.
This new facility will provide a comprehensive suite of inpatient behavioral healthcare services for treating the adult, older adult and pediatric patient populace grappling with acute symptoms of bipolar disorder, depression, anxiety and posttraumatic stress disorder. This move bodes well for ACHC, as many residents in the area struggle with addiction and mental health issues. Local officials have also supported the company in this effort. This newly opened facility takes ACHC’s purpose of ‘Lead Care with Light’ forward.
Increased access to enhanced behavioral healthcare services, will give a sigh of relief to patients in Mesa. The establishment of the hospital across a region that suffers from inadequate access to high-quality behavioral healthcare services seems to be a time-opportune move on the part of Acadia Healthcare. Mesa and surrounding communities have a shortage of roughly 800 behavioral health beds, which highlights the importance of the new facility to the region’s patients.
Acadia Healthcare aims to expand this important area of business by addressing the nationwide concern of growing mental health issues among Americans. The Opioid epidemic is likely to poise more opportunities for ACHC’s growth. An expanding behavioral healthcare facility portfolio as a result of moves similar to the latest one implies greater patient volumes, thereby increasing the usage of ACHC’s services. This, in turn, may fetch higher top-line growth to the behavioral healthcare services provider. ACHC expects to add more than 1,200 beds in 2024.
Acadia Healthcare takes the help of renowned U.S. health systems to construct behavioral health hospitals and expand its reach. ACHC’s healthcare portfolio comprised 253 behavioral healthcare facilities across 38 states and Puerto Rico as of Dec 31, 2023.
Shares of Acadia Healthcare have lost 0.6% in the year-to-date period against the industry’s 18.9% growth. ACHC currently carries a Zacks Rank #3 (Hold).
Key Picks
Enhancing the array of healthcare options, promising stocks in the Medical sector include Universal Health Services, Inc. (UHS - Free Report) , The Cigna Group (CI - Free Report) and Health Catalyst, Inc. (HCAT - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Universal Health Services’ 2024 bottom line suggests 27% year-over-year growth. UHS has witnessed one upward estimate revision over the past 30 days against no movement in the opposite direction. It beat earnings estimates in all the last four quarters, with an average surprise of 5.9%.
The Zacks Consensus Estimate for Cigna’s full-year 2024 earnings indicates a 13% year-over-year increase. CI beat earnings estimates in each of the past four quarters, with an average surprise of 2.9%. The consensus mark for revenues suggests 20.4% growth from the year-ago period.
The Zacks Consensus Estimate for Health Catalyst’s 2024 full-year earnings implies a 120% increase from the year-ago reported figure. HCAT beat earnings estimates in each of the last four quarters, with an average surprise of 247.9%. The consensus mark for its current-year revenues is pegged at $308.2 million, which indicates a 4.2% year-over-year increase.
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