Agilon Health (NYSE:AGL) Shares Up 7.6% - Still a Buy?

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).

Agilon Health, Inc. (NYSE:AGL - Get Free Report)'s share price shot up 7.6% during mid-day trading on Wednesday . The stock traded as high as $1.23 and last traded at $1.21. 3,212,011 shares traded hands 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.

Wall Street Analyst Weigh In

AGL has been the subject of a number of recent analyst reports. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $1.40 price objective (down previously from $4.00) on shares of Agilon Health in a research note on Wednesday, August 20th. Benchmark dropped their target price on shares of Agilon Health from $4.00 to $1.50 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Evercore ISI dropped their price objective on shares of Agilon Health from $5.00 to $3.00 and set an "in-line" rating on the stock in a report on Wednesday, July 9th. Jefferies Financial Group dropped their price objective on shares of Agilon Health from $2.40 to $1.10 and set a "hold" rating on the stock in a report on Friday, August 15th. Finally, Barclays decreased their target price on shares of Agilon Health from $3.00 to $1.50 and set an "underweight" rating on the stock in a research report on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Agilon Health presently has a consensus rating of "Hold" and a consensus target price of $3.07.

Agilon Health Price Performance

The company has a market capitalization of $482.80 million, a P/E ratio of -1.51 and a beta of 0.11. The company's 50-day moving average price is $1.45 and its two-hundred day moving average price is $2.70.

Agilon Health (NYSE:AGL - Get Free Report) last released its quarterly earnings results 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 business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the prior year, the business posted ($0.07) earnings per share. Agilon Health's revenue was down 5.9% compared to the same quarter last year. On average, analysts anticipate that Agilon Health, Inc. will post -0.59 earnings per share for the current fiscal year.

Institutional Trading of Agilon Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. purchased a new position in shares of Agilon Health in the 4th quarter worth about $79,000. BNP Paribas Financial Markets purchased a new stake in shares of Agilon Health in the fourth quarter worth about $656,000. Captrust Financial Advisors raised its stake in Agilon Health by 10.9% in the fourth quarter. Captrust Financial Advisors now owns 35,485 shares of the company's stock valued at $67,000 after purchasing an additional 3,494 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Agilon Health by 2.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 206,991 shares of the company's stock valued at $393,000 after purchasing an additional 5,107 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Agilon Health by 187.8% in the fourth quarter. Millennium Management LLC now owns 7,212,525 shares of the company's stock valued at $13,704,000 after purchasing an additional 4,706,357 shares in the last quarter.

Agilon Health Company Profile

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.