Acadia Healthcare slides as reserve charge and weak profit trends overshadow Q2 beat

Acadia Healthcare Company (ACHC) is down 16.3% today. Here is some analysis on what might have caused this price movement.

Analysis: The selloff appears tied to investor concern over earnings quality rather than top-line guidance. This could be because, even with second-quarter results above expectations and updated full-year guidance, profit fell sharply year over year as liability costs jumped and same-facility revenue was flat.

Details:

Second-quarter revenue was essentially flat from a year earlier at $865.8 million, while net income fell to $10.9 million from $30.1 million and adjusted EPS dropped to $0.38 from $0.83.

Adjusted EBITDA declined to $149.2 million from $201.8 million, with the company citing a $28.6 million adjustment to professional and general liability reserves and a larger year-over-year increase in liability costs.

Same-facility revenue was flat, with patient days up modestly but revenue per patient day down slightly, suggesting volume gains did not translate into stronger pricing or mix.

The company updated its 2026 outlook, including revenue of $3.40 billion to $3.45 billion and adjusted EPS of $1.45 to $1.60, but the market may have focused more on margin pressure, reserve risk, and the profit decline than on the guidance changes.

Sources:

Acadia Healthcare, SEC, MarketBeat

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

EARLY ACCESS

Receive ACHC Data Alerts

Real-time alerts on filings, insider trades, and market signals — before everyone else.

Get Alerts →

$ACHC Hedge Fund Activity

We have seen 156 institutional investors add shares of $ACHC stock to their portfolio, and 124 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

MORGAN STANLEY added 2,962,591 shares (+193.8%) to their portfolio in Q1 2026, for an estimated $69,295,003
WELLINGTON MANAGEMENT GROUP LLP removed 2,701,366 shares (-22.9%) from their portfolio in Q1 2026, for an estimated $63,184,950
GOLDMAN SACHS GROUP INC removed 2,488,185 shares (-52.6%) from their portfolio in Q1 2026, for an estimated $58,198,647
MAK CAPITAL ONE LLC added 2,432,962 shares (+inf%) to their portfolio in Q1 2026, for an estimated $56,906,981
CARRONADE CAPITAL MANAGEMENT, LP added 2,337,236 shares (+inf%) to their portfolio in Q1 2026, for an estimated $54,667,950
KHROM CAPITAL MANAGEMENT LLC removed 2,156,409 shares (-29.3%) from their portfolio in Q1 2026, for an estimated $50,438,406
INVENOMIC CAPITAL MANAGEMENT LP removed 2,129,712 shares (-64.3%) from their portfolio in Q1 2026, for an estimated $49,813,963

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$ACHC Price Targets

Multiple analysts have issued price targets for $ACHC recently. We have seen 9 analysts offer price targets for $ACHC in the last 6 months, with a median target of $30.0.

Here are some recent targets:

A.J. Rice from UBS set a target price of $39.0 on 07/09/2026
Brian Tanquilut from Jefferies set a target price of $30.0 on 06/03/2026
Jason Cassorla from Guggenheim set a target price of $31.0 on 05/04/2026
Ben Hendrix from RBC Capital set a target price of $31.0 on 05/04/2026
Sarah James from Cantor Fitzgerald set a target price of $30.0 on 05/01/2026
Andrew Mok from Barclays set a target price of $25.0 on 05/01/2026
Ryan Langston from TD Cowen set a target price of $30.0 on 04/28/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.