Astrana Health (NASDAQ:ASTH) Hits New 1-Year High - Still a Buy?

Key Points

• 52-week high: Shares reached a new 52-week high of $34.86 (last $34.42) on strong trading volume of 149,291 shares and a market capitalization of about $1.89 billion.
• EPS beat and revenue growth: Astrana reported $0.54 EPS vs. $0.15 expected and revenue of $950.5M, up 42.9% year-over-year, signaling a notable quarterly beat.
• Analyst and institutional positioning: Analyst coverage is mixed but tilted positive (six Buys, two Holds, one Sell) with an average rating of "Moderate Buy" and an average target of $34.86, while institutional ownership stands at 52.77% with several funds increasing stakes.

Shares of Astrana Health, Inc. (NASDAQ:ASTH - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $34.86 and last traded at $34.42, with a volume of 149291 shares changing hands. The stock had previously closed at $33.72.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Weiss Ratings reissued a "sell (d+)" rating on shares of Astrana Health in a report on Monday, December 29th. Zacks Research upgraded Astrana Health from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 11th. Truist Financial raised their price target on Astrana Health from $37.00 to $38.00 and gave the stock a "buy" rating in a research report on Friday, March 13th. Robert W. Baird raised their price target on Astrana Health from $37.00 to $40.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 15th. Finally, BTIG Research lowered their price target on Astrana Health from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, February 2nd. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Astrana Health presently has an average rating of "Moderate Buy" and an average target price of $34.86.

Astrana Health Stock Performance

The company has a market capitalization of $1.89 billion, a P/E ratio of 73.85 and a beta of 0.77. The business has a 50-day moving average of $25.22 and a 200-day moving average of $25.45. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.40 and a quick ratio of 1.40.

Astrana Health (NASDAQ:ASTH - Get Free Report) last issued its quarterly earnings results on Monday, March 2nd. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.39. Astrana Health had a return on equity of 5.59% and a net margin of 0.71%.The company had revenue of $950.53 million during the quarter, compared to the consensus estimate of $930.46 million. During the same period last year, the company earned ($0.15) earnings per share. Astrana Health's revenue was up 42.9% on a year-over-year basis. On average, sell-side analysts anticipate that Astrana Health, Inc. will post 1.44 EPS for the current year.

Institutional Trading of Astrana Health

Several institutional investors and hedge funds have recently made changes to their positions in the business. 325 Capital LLC lifted its position in shares of Astrana Health by 54.0% during the fourth quarter. 325 Capital LLC now owns 1,839,076 shares of the company's stock worth $45,627,000 after purchasing an additional 645,123 shares during the last quarter. State Street Corp lifted its position in shares of Astrana Health by 6.2% during the fourth quarter. State Street Corp now owns 1,675,516 shares of the company's stock worth $41,570,000 after purchasing an additional 98,064 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Astrana Health by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 1,028,168 shares of the company's stock worth $25,513,000 after purchasing an additional 12,212 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Astrana Health by 418.3% during the fourth quarter. Wellington Management Group LLP now owns 738,853 shares of the company's stock worth $18,331,000 after purchasing an additional 596,293 shares during the last quarter. Finally, SteelPeak Wealth LLC lifted its position in shares of Astrana Health by 7.8% during the third quarter. SteelPeak Wealth LLC now owns 579,937 shares of the company's stock worth $16,441,000 after purchasing an additional 41,761 shares during the last quarter. 52.77% of the stock is currently owned by institutional investors.

About Astrana Health

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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