Astrana Health (NASDAQ:ASTH) Sets New 52-Week Low Following Weak Earnings

Key Points

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Astrana Health, Inc. (NASDAQ:ASTH - Get Free Report) reached a new 52-week low on Thursday following a weaker than expected earnings announcement. The stock traded as low as $21.36 and last traded at $21.81, with a volume of 343885 shares changing hands. The stock had previously closed at $22.32.

The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.17). The business had revenue of $654.81 million for the quarter, compared to analyst estimates of $639.13 million. Astrana Health had a return on equity of 3.43% and a net margin of 1.04%. The firm's quarterly revenue was up 34.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 earnings per share.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASTH. Intech Investment Management LLC lifted its holdings in Astrana Health by 37.3% in the second quarter. Intech Investment Management LLC now owns 61,221 shares of the company's stock valued at $1,523,000 after buying an additional 16,635 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Astrana Health by 7.1% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,657 shares of the company's stock valued at $265,000 after acquiring an additional 710 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in Astrana Health by 8.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 9,930 shares of the company's stock valued at $247,000 after purchasing an additional 734 shares during the period. Savant Capital LLC bought a new stake in Astrana Health in the second quarter valued at approximately $748,000. Finally, Hussman Strategic Advisors Inc. raised its holdings in Astrana Health by 50.0% in the second quarter. Hussman Strategic Advisors Inc. now owns 126,000 shares of the company's stock worth $3,135,000 after purchasing an additional 42,000 shares during the period. Institutional investors and hedge funds own 52.77% of the company's stock.

Astrana Health Stock Performance

The firm has a market cap of $1.62 billion, a P/E ratio of 56.76, a PEG ratio of 1.03 and a beta of 0.85. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.59 and a current ratio of 1.59. The stock's 50-day moving average is $24.44 and its 200 day moving average is $29.08.

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.