Agilon Health (NYSE:AGL) Stock Price Up 7.6% - Here's What Happened

Key Points

• Agilon Health (NYSE:AGL) shares experienced a significant increase of 7.6%, trading at $1.21, following a decline in trading volume by 55% compared to average activity.
• Equity analysts have reduced their price targets for Agilon Health, with Barclays setting a new target of $1.50 and Jefferies lowering theirs to $1.10, indicating a bearish outlook on the stock.
• The company reported a quarterly revenue of $1.39 billion, missing estimates and reflecting a 5.9% year-over-year decline, alongside a negative earnings per share of ($0.25).

Shares of Agilon Health, Inc. (NYSE:AGL - Get Free Report) traded up 7.6% on Wednesday . The stock traded as high as $1.23 and last traded at $1.21. 3,212,011 shares were traded during mid-day trading, a decline of 55% from the average session volume of 7,147,018 shares. The stock had previously closed at $1.12.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Benchmark decreased their price target on shares of Agilon Health from $4.00 to $1.50 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Jefferies Financial Group lowered their target price on shares of Agilon Health from $2.40 to $1.10 and set a "hold" rating for the company in a research note on Friday, August 15th. Barclays reduced their price target on Agilon Health from $3.00 to $1.50 and set an "underweight" rating on the stock in a research note on Wednesday, August 6th. Robert W. Baird reduced their target price on Agilon Health from $5.00 to $1.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Finally, Evercore ISI lowered their price target on Agilon Health from $5.00 to $3.00 and set an "in-line" rating for the company in a report on Wednesday, July 9th. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Agilon Health currently has an average rating of "Hold" and an average price target of $3.07.

Agilon Health Stock Down 0.4%

The stock's 50 day moving average price is $1.43 and its 200 day moving average price is $2.68.

Agilon Health (NYSE:AGL - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.14). Agilon Health had a negative return on equity of 66.76% and a negative net margin of 5.35%.The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the firm earned ($0.07) EPS. The company's revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Agilon Health, Inc. will post -0.59 earnings per share for the current year.

Institutional Trading of Agilon Health

Hedge funds and other institutional investors have recently bought and sold shares of the company. Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new position in shares of Agilon Health in the 2nd quarter worth approximately $31,000. 111 Capital acquired a new stake in shares of Agilon Health during the second quarter worth $36,000. Nisa Investment Advisors LLC lifted its position in shares of Agilon Health by 244.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 9,553 shares of the company's stock worth $41,000 after buying an additional 6,783 shares during the last quarter. Acropolis Investment Management LLC acquired a new position in shares of Agilon Health in the 2nd quarter valued at about $44,000. Finally, Gabelli Funds LLC acquired a new stake in Agilon Health during the first quarter worth about $48,000.

About Agilon Health

agilon health, inc. provides healthcare services for seniors through primary care physicians in the communities of the United States. It offers a platform that manages the total healthcare needs of the patients by subscription-like per-member per-month. The company was formerly known as Agilon Health Topco, Inc and changed its name to agilon health, inc.