Astrana Health (NASDAQ:ASTH) Shares Gap Up - Still a Buy?

Key Points

• Astrana Health's stock price gapped up from $21.46 to $24.00 before trading, last trading at $28.64 with significant volume.
• The company reported quarterly earnings with $0.19 EPS, missing estimates of $0.36 EPS, but its revenue increased by 34.7% compared to the same quarter last year.
• Institutional investors hold a significant stake in Astrana Health, with hedge funds owning 52.77% of the company's stock.

Astrana Health, Inc. (NASDAQ:ASTH - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $21.46, but opened at $24.00. Astrana Health shares last traded at $28.64, with a volume of 278,962 shares trading hands.

Astrana Health Price Performance

The business's 50 day moving average is $24.53 and its two-hundred day moving average is $29.02. The firm has a market capitalization of $1.63 billion, a PE ratio of 57.06, a P/E/G ratio of 1.03 and a beta of 0.85. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.59 and a quick ratio of 1.59.

Astrana Health (NASDAQ:ASTH - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.17). The company had revenue of $654.81 million during the quarter, compared to analysts' expectations of $639.13 million. Astrana Health had a net margin of 1.04% and a return on equity of 3.43%. The company's revenue for the quarter was up 34.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.40 earnings per share. As a group, research analysts anticipate that Astrana Health, Inc. will post 1.15 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ASTH. Quarry LP raised its position in shares of Astrana Health by 35.5% in the 4th quarter. Quarry LP now owns 1,799 shares of the company's stock worth $57,000 after purchasing an additional 471 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in 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 worth $265,000 after buying an additional 710 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its stake in shares of Astrana Health by 8.0% during the 2nd 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Astrana Health by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,505 shares of the company's stock valued at $773,000 after purchasing an additional 915 shares during the period. Finally, US Bancorp DE grew its stake in shares of Astrana Health by 21.3% during the 1st quarter. US Bancorp DE now owns 5,791 shares of the company's stock valued at $180,000 after acquiring an additional 1,015 shares during the period. Institutional investors own 52.77% of the company's stock.

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.