Astrana Health (NASDAQ:ASTH) Stock Price Down 5.7% - What's Next?

Key Points

• Astrana Health shares fell 5.7% in mid-day trading to about $35.34, with trading volume 66% below the average daily level.
• Analyst sentiment remains positive: seven analysts rate the stock a Buy and two rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $49.43.
• Institutional investors and hedge funds own 52.77% of Astrana Health, while the company trades at a market capitalization of approximately $1.92 billion and a P/E ratio of 41.97.

Astrana Health, Inc. (NASDAQ:ASTH - Get Free Report)'s stock price dropped 5.7% during mid-day trading on Tuesday . The company traded as low as $35.29 and last traded at $35.3360. Approximately 186,301 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 553,827 shares. The stock had previously closed at $37.47.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wall Street Zen upgraded Astrana Health from a "hold" rating to a "buy" rating in a research report on Saturday. Weiss Ratings raised Astrana Health from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 1st. Truist Financial boosted their target price on shares of Astrana Health from $47.00 to $55.00 and gave the company a "buy" rating in a research note on Monday. BTIG Research upped their target price on shares of Astrana Health from $50.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Finally, Needham & Company LLC increased their target price on shares of Astrana Health from $30.00 to $41.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Astrana Health presently has an average rating of "Moderate Buy" and a consensus target price of $49.43.

Astrana Health Trading Down 8.2%

The company has a debt-to-equity ratio of 1.05, a current ratio of 1.23 and a quick ratio of 1.35. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 41.97 and a beta of 0.87. The business has a 50 day simple moving average of $41.36 and a 200 day simple moving average of $32.58.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC increased its position in 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 acquiring an additional 388 shares in the last quarter. Strs Ohio acquired a new position in shares of Astrana Health during the fourth quarter worth approximately $40,000. Tower Research Capital LLC TRC lifted its position in shares of Astrana Health by 323.3% during the second quarter. Tower Research Capital LLC TRC now owns 4,605 shares of the company's stock worth $115,000 after purchasing an additional 3,517 shares in the last quarter. State of Wyoming bought a new stake in shares of Astrana Health during the second quarter valued at approximately $132,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Astrana Health during the fourth quarter valued at approximately $228,000. Institutional investors and hedge funds 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. 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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