Astrana Health (NASDAQ:ASTH) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Key Points

• Needham & Company LLC raised its price target on Astrana Health to $41 (from $30) and maintained a "buy" rating, implying about a 13.64% upside; the stock's consensus is a "Moderate Buy" with an average price target of $38.14 (six Buy, three Hold).
• Astrana posted a strong quarter, reporting EPS $0.74 vs. $0.29 consensus and revenue of $965.1M, up 55.6% year‑over‑year, with analysts forecasting ~1.44 EPS for the fiscal year.
• The stock is trading near $36 (1‑year high ~$36.20) with a market cap of $2.01B, a P/E of 78.44, and roughly 52.77% institutional ownership.

Astrana Health (NASDAQ:ASTH - Get Free Report) had its price objective hoisted by equities researchers at Needham & Company LLC from $30.00 to $41.00 in a report released on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price target suggests a potential upside of 13.64% from the company's current price.

Several other research firms also recently weighed in on ASTH. BTIG Research lifted their price target on shares of Astrana Health from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Friday. Weiss Ratings raised shares of Astrana Health from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, April 29th. Truist Financial lifted their price target on shares of Astrana Health from $37.00 to $38.00 and gave the company a "buy" rating in a research note on Friday, March 13th. Robert W. Baird lifted their price objective on shares of Astrana Health from $37.00 to $40.00 and gave the company an "outperform" rating in a report on Wednesday, April 15th. Finally, Zacks Research upgraded shares of Astrana Health from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 11th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $38.14.

Astrana Health Trading Up 2.4%

ASTH opened at $36.08 on Friday. Astrana Health has a 1-year low of $18.08 and a 1-year high of $36.20. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.25. The company has a market cap of $2.01 billion, a P/E ratio of 78.44 and a beta of 0.98. The company has a fifty day moving average price of $27.38 and a two-hundred day moving average price of $25.67.

Astrana Health (NASDAQ:ASTH - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.45. Astrana Health had a net margin of 0.71% and a return on equity of 5.59%. The firm had revenue of $965.10 million during the quarter, compared to the consensus estimate of $949.21 million. During the same period in the previous year, the firm posted $0.42 earnings per share. The business's revenue was up 55.6% compared to the same quarter last year. Analysts predict that Astrana Health will post 1.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Diamond Hill Capital Management Inc. grew its holdings in shares of Astrana Health by 33.0% during the third quarter. Diamond Hill Capital Management Inc. now owns 361,264 shares of the company's stock valued at $10,242,000 after buying an additional 89,733 shares during the last quarter. Insight Wealth Strategies LLC purchased a new position in Astrana Health during the fourth quarter worth about $3,514,000. 325 Capital LLC boosted its holdings in Astrana Health by 34.6% during the third quarter. 325 Capital LLC now owns 1,193,953 shares of the company's stock worth $33,849,000 after purchasing an additional 307,037 shares during the last quarter. SG Americas Securities LLC purchased a new position in Astrana Health during the third quarter worth about $1,062,000. Finally, Quantbot Technologies LP boosted its holdings in Astrana Health by 384.4% during the third quarter. Quantbot Technologies LP now owns 40,659 shares of the company's stock worth $1,153,000 after purchasing an additional 32,265 shares during the last quarter. 52.77% of the stock is currently 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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