Astrana Health (NASDAQ:ASTH) Shares Gap Up - Here's Why

Key Points

• Astrana Health shares gapped up — the stock opened at $26.80 after a $26.00 close and last traded around $27.40 on volume of about 74,280 shares.
• Quarterly results beat expectations — Astrana reported $0.54 EPS vs $0.15 expected and revenue of $950.5M (up 42.9% year-over-year), outperforming consensus estimates.
• Analyst sentiment is broadly positive with a MarketBeat consensus of "Moderate Buy" and a $34.00 price target (five Buys, two Holds, one Sell), and recent price-target moves ranging up to $40.

Shares of Astrana Health, Inc. (NASDAQ:ASTH - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $26.00, but opened at $26.80. Astrana Health shares last traded at $27.3950, with a volume of 74,280 shares traded.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ASTH shares. Weiss Ratings restated a "sell (d+)" rating on shares of Astrana Health in a research report on Monday, December 29th. Needham & Company LLC started coverage on shares of Astrana Health in a research report on Friday, December 12th. They issued a "buy" rating and a $28.00 price objective on the stock. BTIG Research decreased their price objective on shares of Astrana Health from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, February 2nd. Truist Financial upped their price objective on shares of Astrana Health from $37.00 to $38.00 and gave the stock a "buy" rating in a research report on Friday, March 13th. Finally, Zacks Research upgraded shares of Astrana Health from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 11th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Astrana Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.00.

Astrana Health Price Performance

The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.25. The business's 50-day simple moving average is $22.54 and its 200 day simple moving average is $25.27. The firm has a market capitalization of $1.53 billion, a P/E ratio of 59.64 and a beta of 0.77.

Astrana Health (NASDAQ:ASTH - Get Free Report) last issued its quarterly earnings results on Monday, March 2nd. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.39. Astrana Health had a net margin of 0.71% and a return on equity of 5.59%. The business had revenue of $950.53 million for the quarter, compared to analysts' expectations of $930.46 million. During the same period last year, the business earned ($0.15) earnings per share. The business's quarterly revenue was up 42.9% on a year-over-year basis. Sell-side analysts forecast that Astrana Health, Inc. will post 1.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ASTH. Signaturefd LLC grew its position in Astrana Health by 57.9% during the fourth quarter. Signaturefd LLC now owns 1,058 shares of the company's stock valued at $26,000 after acquiring an additional 388 shares during the last quarter. GAMMA Investing LLC grew its position in Astrana Health by 144.7% during the fourth quarter. GAMMA Investing LLC now owns 1,473 shares of the company's stock valued at $37,000 after acquiring an additional 871 shares during the last quarter. Strs Ohio bought a new position in Astrana Health during the fourth quarter valued at approximately $40,000. Covestor Ltd grew its position in Astrana Health by 210.6% during the third quarter. Covestor Ltd now owns 3,233 shares of the company's stock valued at $92,000 after acquiring an additional 2,192 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Astrana Health by 323.3% during the second quarter. Tower Research Capital LLC TRC now owns 4,605 shares of the company's stock valued at $115,000 after acquiring an additional 3,517 shares during the last quarter. 52.77% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.