Astrana Health (NASDAQ:ASTH) Shares Up 7.9% - Still a Buy?

Key Points

• Astrana Health shares jumped 7.9% to about $40.79 in Friday trading, although volume was roughly 49% below the stock’s average daily level.
• Analyst sentiment remains favorable: seven analysts rate the stock a Buy and two rate it Hold, producing a consensus “Moderate Buy” rating and an average price target of $49.43. TD Cowen recently raised its target to $50.
• Institutional ownership stands at 52.77%, with several major investors increasing their positions. The company has a $2.26 billion market capitalization and trades at a price-to-earnings ratio of 49.63.

Astrana Health, Inc. (NASDAQ:ASTH - Get Free Report)'s stock price was up 7.9% during mid-day trading on Friday . The stock traded as high as $40.67 and last traded at $40.7880. Approximately 282,394 shares traded hands during trading, a decline of 49% from the average daily volume of 554,100 shares. The stock had previously closed at $37.79.

Analyst Upgrades and Downgrades

ASTH has been the subject of several recent research reports. TD Cowen lifted their price target on Astrana Health from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Needham & Company LLC upped their price target on Astrana Health from $30.00 to $41.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Robert W. Baird set a $45.00 price target on shares of Astrana Health in a report on Friday, May 8th. Wall Street Zen raised shares of Astrana Health from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Weiss Ratings upgraded shares of Astrana Health from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 1st. Seven equities research 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 company currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.43.

Astrana Health Price Performance

The firm's 50-day moving average is $41.29 and its 200-day moving average is $32.77. The company has a market capitalization of $2.26 billion, a PE ratio of 49.63 and a beta of 0.87. The company has a quick ratio of 1.35, a current ratio of 1.23 and a debt-to-equity ratio of 1.05.

Hedge Funds Weigh In On Astrana Health

Several institutional investors have recently modified their holdings of ASTH. Swiss National Bank raised its position in Astrana Health by 1.2% in the 3rd quarter. Swiss National Bank now owns 86,944 shares of the company's stock worth $2,465,000 after purchasing an additional 1,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Astrana Health by 5.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,768 shares of the company's stock valued at $799,000 after buying an additional 1,263 shares during the period. Deutsche Bank AG boosted its position in Astrana Health by 3.9% during the fourth quarter. Deutsche Bank AG now owns 41,265 shares of the company's stock valued at $1,024,000 after buying an additional 1,550 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Astrana Health by 3.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,258 shares of the company's stock valued at $1,049,000 after buying an additional 1,562 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Astrana Health during the fourth quarter valued at about $40,000. 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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