Astrana Health (NASDAQ:ASTH) Shares Down 5.3% - Here's Why

Key Points

• Astrana Health shares fell 5.3% in midday trading, briefly touching $46.25 before last trading at $46.38, on volume far below average.
• Analyst sentiment remains positive, with multiple firms raising price targets and seven analysts rating the stock a Buy; the consensus target is $47.86.
• The company recently posted strong quarterly results, beating EPS and revenue estimates, with revenue up 55.6% year over year to $965.1 million.

Shares of Astrana Health, Inc. (NASDAQ:ASTH - Get Free Report) dropped 5.3% during mid-day trading on Wednesday . The company traded as low as $46.25 and last traded at $46.38. Approximately 57,615 shares were traded during trading, a decline of 89% from the average daily volume of 548,109 shares. The stock had previously closed at $49.00.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Robert W. Baird set a $45.00 price objective on Astrana Health in a research report on Friday, May 8th. TD Cowen boosted their target price on Astrana Health from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday. Needham & Company LLC raised their target price on shares of Astrana Health from $30.00 to $41.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Barclays raised shares of Astrana Health from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $37.00 to $50.00 in a research report on Tuesday, May 26th. Finally, Truist Financial raised their price objective on Astrana Health from $38.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, May 14th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $47.86.

Astrana Health Trading Down 3.3%

The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 77.67 and a beta of 0.89. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.20. The business's 50 day simple moving average is $40.87 and its 200 day simple moving average is $30.86.

Astrana Health (NASDAQ:ASTH - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.45. Astrana Health had a return on equity of 9.22% and a net margin of 0.86%.The business had revenue of $965.10 million during the quarter, compared to analysts' expectations of $949.21 million. During the same quarter last year, the company posted $0.42 earnings per share. Astrana Health's quarterly revenue was up 55.6% on a year-over-year basis. On average, research analysts expect that Astrana Health, Inc. will post 1.25 EPS for the current fiscal year.

Institutional Trading of Astrana Health

Several hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC increased its stake in shares of Astrana Health by 57.9% in the 4th quarter. Signaturefd LLC now owns 1,058 shares of the company's stock valued at $26,000 after purchasing an additional 388 shares during the last quarter. GAMMA Investing LLC increased its position in Astrana Health by 144.7% during the 4th quarter. GAMMA Investing LLC now owns 1,473 shares of the company's stock worth $37,000 after purchasing an additional 871 shares in the last quarter. Strs Ohio bought a new position in Astrana Health in the 4th quarter valued at approximately $40,000. Tower Research Capital LLC TRC boosted its position in Astrana Health by 323.3% in the second quarter. Tower Research Capital LLC TRC now owns 4,605 shares of the company's stock valued at $115,000 after buying an additional 3,517 shares in the last quarter. Finally, State of Wyoming acquired a new stake in Astrana Health in the second quarter valued at approximately $132,000. 52.77% of the stock is owned by institutional investors and hedge funds.

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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