Astrana Health (NASDAQ:ASTH) Given New $50.00 Price Target at BTIG Research

Key Points

• BTIG Research raised its price target to $50 (from $40) and kept a "buy" rating, implying about a 38.58% upside from the stock's prior close.
• Earnings beat: Astrana reported $0.74 EPS versus $0.29 expected and revenue of $965.1M (up 55.6% YoY), topping estimates on both metrics.
• Analyst consensus is a "Moderate Buy" (six Buy, three Hold) with a consensus target of $38.14; shares opened at $36.08 near their 52‑week high, with a market cap of $2.01B and a PE of 78.44.

Astrana Health (NASDAQ:ASTH - Get Free Report) had its price target raised by equities research analysts at BTIG Research from $40.00 to $50.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. BTIG Research's price target would indicate a potential upside of 38.58% from the stock's previous close.

A number of other brokerages have also recently weighed in on ASTH. Zacks Research upgraded Astrana Health from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 11th. Truist Financial upped their price objective on Astrana Health from $37.00 to $38.00 and gave the stock a "buy" rating in a research note on Friday, March 13th. Weiss Ratings upgraded Astrana Health from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, April 29th. Finally, Robert W. Baird upped their price objective on Astrana Health from $37.00 to $40.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 15th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Astrana Health presently has an average rating of "Moderate Buy" and a consensus target price of $38.14.

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Astrana Health Price Performance

Shares of ASTH opened at $36.08 on Friday. The company has a 50 day moving average price of $27.38 and a 200-day moving average price of $25.67. Astrana Health has a fifty-two week low of $18.08 and a fifty-two week high of $36.20. The stock has a market capitalization of $2.01 billion, a PE ratio of 78.44 and a beta of 0.98. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.40 and a current ratio of 1.40.

Astrana Health (NASDAQ:ASTH - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.45. The firm had revenue of $965.10 million during the quarter, compared to analysts' expectations of $949.21 million. Astrana Health had a net margin of 0.71% and a return on equity of 5.59%. The company's revenue was up 55.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 EPS. Equities analysts predict that Astrana Health will post 1.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Astrana Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in Astrana Health by 12.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,368,079 shares of the company's stock valued at $33,545,000 after buying an additional 152,267 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new stake in Astrana Health in the first quarter valued at about $453,000. Principal Financial Group Inc. raised its stake in Astrana Health by 15.7% in the first quarter. Principal Financial Group Inc. now owns 265,948 shares of the company's stock valued at $6,521,000 after buying an additional 36,150 shares during the last quarter. Fifth Third Bancorp raised its stake in Astrana Health by 4,855.4% in the first quarter. Fifth Third Bancorp now owns 12,438 shares of the company's stock valued at $305,000 after buying an additional 12,187 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in Astrana Health in the first quarter valued at about $468,000. 52.77% of the stock is currently owned by hedge funds and other institutional investors.

Astrana Health Company Profile

Astrana Health, Inc, Inc, a physician-centric technology-powered healthcare management company, provides medical care services in the United States. It operates through three segments: Care Partners, Care Delivery, and Care Enablement. The company is leveraging its proprietary population health management and healthcare delivery platform, operates an integrated, value-based healthcare model which empowers the providers in its network to deliver care to its patients. It offers care coordination services to patients, families, primary care physicians, specialists, acute care hospitals, alternative sites of inpatient care, physician groups, and health plans.

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