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Accendra Health
(NYSE:ACH)
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Rating:44Neutral
Price Target:
$1.50
▲(19.05% Upside)
Action:Reiterated
Date:08/11/26
ACH scores low primarily due to stressed financial performance (deep losses, negative equity, and current cash burn) and a very weak technical backdrop (price far below major moving averages with negative MACD). The score is partially supported by management’s guidance for improving EBITDA and breakeven-to-positive 2026 free cash flow plus meaningful debt optimization and cost reductions, but near-term collections/AR issues and tight liquidity keep overall risk elevated.
Positive Factors
High gross margins
A sustained ~46% gross margin gives Accendra a durable buffer versus peers in medical distribution. High gross margins create structural room to absorb operating inefficiencies and support profitability once fixed-cost and collection issues are resolved, improving long-term recovery prospects.
Negative Factors
Negative stockholders' equity
Negative equity is a persistent capital-structure impairment that limits financial flexibility and raises creditor and covenant sensitivity. Even with recent debt moves, negative book equity signals legacy losses and constrains ability to raise equity or absorb further shocks over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins
A sustained ~46% gross margin gives Accendra a durable buffer versus peers in medical distribution. High gross margins create structural room to absorb operating inefficiencies and support profitability once fixed-cost and collection issues are resolved, improving long-term recovery prospects.
Read all positive factors
Accendra Health (ACH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$107.22M
Dividend YieldN/A
Average Volume (3M)1.12M
Price to Earnings (P/E)―
Beta (1Y)1.25
Revenue Growth-69.68%
EPS Growth74.88%
CountryUS
Employees6,500
SectorHealthcare
Sector Strength45
IndustryMedical - Distribution
Share Statistics
EPS (TTM)-3.91
Shares Outstanding76,583,700
10 Day Avg. Volume949,424
30 Day Avg. Volume1,122,390
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)-0.47
Price to Sales (P/S)0.08
P/FCF Ratio-0.71
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$1.43Price Target Upside13.76% Upside
Rating ConsensusModerate Sell
Number of Analyst Covering3
EPS Forecast (FY)0.16
Revenue Forecast (FY)$2.53B
Accendra Health Business Overview & Revenue Model
Company Description
Accendra Health, Inc., along with its subsidiaries, operates globally as a comprehensive provider of healthcare solutions. The organization is structured into two primary operational divisions: Products & Healthcare Services and Patient Direct. Th...
Accendra Health Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Neutral
The call highlighted meaningful strategic and financial progress — notably >$125M of annualized cost reductions, a successful balance sheet optimization (debt down ~ $400M and extended maturities), improving growth in sleep and diabetes, and commercial wins and operational initiatives positioned to drive late‑2026/2027 upside. However, near‑term performance was impaired by several material operational headwinds: unusually large payor audit activity that depressed collections (≈$10M in Q2, $20M H1), worsening AR and cash pressure, category weakness in respiratory and wound, and later-than-expected timing of cost benefits. Management has clear remediation plans (cost actions, collections fixes, logistics partnerships, asset sales, ATM program) and expects a stronger Q4 and improved 2027, but the near-term mix of execution and cash challenges tempers the positive long‑term narrative.Positive Updates
Cost Reduction Actions
Identified and eliminated more than $125 million of annualized costs; additional targeted cost reductions executed ~1 month into Q3 and more opportunities under evaluation to streamline operations and reduce cost to serve.
Negative Updates
Revenue Below Expectations and Guidance Revision
Company stated Q2 results did not meet internal expectations; revised full-year 2026 revenue guidance to $2.45 billion–$2.55 billion and noted a later-than-expected timing of revenue recovery and cost benefits, with much of the improvement expected in Q4.
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Q2-2026 Updates
Positive
Negative
Cost Reduction Actions
Identified and eliminated more than $125 million of annualized costs; additional targeted cost reductions executed ~1 month into Q3 and more opportunities under evaluation to streamline operations and reduce cost to serve.
Read all positive updates
Company Guidance
Accendra revised 2026 guidance to revenue of $2.45–$2.55 billion and full‑year adjusted EBITDA of $300–$320 million, with fully‑levered free cash flow now expected to be breakeven to slightly positive; Q2 adjusted EBITDA was just over $60 million (adjusted EBITDA less PSE CapEx $16.3 million) and Q2 revenue excluding the large payor grew ~2% (sleep ~+5.5%, diabetes +4%, insulin pumps strong, CGM weak, respiratory and wound down, ostomy/urology high single‑digit). Management said collection‑waterfall issues reduced results by roughly $10 million in Q2 and ~$20 million in H1, has eliminated >$125 million of annualized costs, completed a balance‑sheet optimization that left total debt at $1.72 billion (down ~$400 million since March) with net debt >$55 million lower, a ~5.5‑year weighted average life and no maturities until 2029, and Q2 cash interest included a $12 million cash settlement; they expect collections and cash flow to recover late 2026 into 2027, believe the business can generate roughly $100 million of annual free cash flow in a normalized year, and plan an ATM program plus an NOL rights plan to protect >$200 million of NOL carryforwards.Accendra Health Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
18
Very Negative
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.65B | 2.76B | 10.70B | 10.33B | 9.96B | 9.79B |
| Gross Profit | 1.19B | 1.29B | 2.22B | 2.13B | 1.83B | 1.51B |
| EBITDA | 229.78M | 219.75M | 51.22M | 390.57M | 368.45M | 415.46M |
| Net Income | -302.14M | -1.10B | -362.69M | -41.30M | 22.39M | 221.59M |
Balance Sheet | ||||||
| Total Assets | 2.11B | 2.45B | 4.66B | 5.09B | 5.39B | 3.54B |
| Cash, Cash Equivalents and Short-Term Investments | 7.65M | 281.99M | 49.38M | 243.04M | 69.47M | 55.71M |
| Total Debt | 1.78B | 2.23B | 2.14B | 2.41B | 2.79B | 1.15B |
| Total Liabilities | 2.66B | 2.91B | 4.09B | 4.17B | 4.44B | 2.60B |
| Stockholders Equity | -550.94M | -460.98M | 565.23M | 924.17M | 945.60M | 938.50M |
Cash Flow | ||||||
| Free Cash Flow | -171.45M | -303.12M | -66.67M | 532.82M | 158.42M | 74.49M |
| Operating Cash Flow | -104.33M | -101.79M | 161.50M | 740.71M | 325.01M | 124.18M |
| Investing Cash Flow | 245.54M | 144.42M | -116.53M | -137.25M | -1.80B | -53.63M |
| Financing Cash Flow | 63.60M | 188.08M | -267.60M | -417.33M | 1.50B | -129.48M |
Accendra Health Technical Analysis
1.26
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ACH, the sentiment is undefined. The current price of 1.26 is equal to the 20-day moving average (MA) of ―, equal to the 50-day MA of ―, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of ― indicates undefined momentum. The RSI at ― is undefined, neither overbought nor oversold. The STOCH value of ― is undefined, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a undefined sentiment for ACH.
Accendra Health Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
Performance Comparison
Accendra Health Corporate Events
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Accendra Health Adopts Tax Asset Preservation Rights Plan
Positive
Aug 10, 2026
On August 9–10, 2026, Accendra Health’s board adopted a Section 382 Rights Agreement, declaring a dividend of one preferred share purchase right for each common share outstanding as of August 20, 2026. The Tax Asset Preservation Plan, ...
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Accendra Health Reports Q2 2026 Results, Updates Outlook
Negative
Aug 10, 2026
Accendra Health reported second-quarter 2026 results on August 10, 2026, showing net revenue from continuing operations of $613.2 million, down from $681.9 million a year earlier, and a GAAP loss from continuing operations of $89.1 million, compar...
Business Operations and StrategyExecutive/Board Changes
Accendra Health Announces CEO Retirement and Succession Plan
Neutral
Aug 10, 2026
On August 10, 2026, Accendra Health announced that President, Chief Executive Officer and director Edward A. Pesicka plans to retire and leave the board by the end of 2026, after more than seven years with the company, with the option to remain as...
Business Operations and StrategyPrivate Placements and Financing
Accendra Health Completes Major Exchange Offer, Restructures Debt
Positive
Jun 25, 2026
On June 23, 2026, Accendra Health announced the expiration and final results of its exchange offers and consent solicitations for its 4.500% Senior Notes due 2029 and 6.625% Senior Notes due 2030. The company reported participation from Eligible H...
Business Operations and StrategyPrivate Placements and Financing
Accendra Health Completes Major Debt Exchange and Refinancing
Positive
Jun 15, 2026
On June 10, 2026, Accendra Health reported early results of its exchange offers and related consent solicitations covering all of its 4.500% senior notes due 2029 and 6.625% senior notes due 2030, securing tenders from more than 99% of each series...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.