Astrana Health (NASDAQ:ASTH) Trading Down 4.9% - Here's Why

Astrana Health, Inc. (NASDAQ:ASTH - Get Free Report) shares dropped 4.9% during trading on Friday . The stock traded as low as $24.10 and last traded at $23.49. Approximately 43,050 shares were traded during trading, a decline of 85% from the average daily volume of 295,215 shares. The stock had previously closed at $24.69.

Wall Street Analyst Weigh In

Separately, Barclays assumed coverage on Astrana Health in a research report on Tuesday, April 1st. They set an "equal weight" rating and a $36.00 price target on the stock. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Astrana Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.29.

Astrana Health Stock Performance

The firm has a market capitalization of $1.28 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 0.83 and a beta of 0.84. The stock has a 50-day moving average price of $25.24 and a 200-day moving average price of $30.13. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.70 and a quick ratio of 1.70.

Astrana Health (NASDAQ:ASTH - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.09). Astrana Health had a net margin of 1.56% and a return on equity of 4.90%. The company had revenue of $620.39 million during the quarter, compared to analyst estimates of $628.11 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. The business's revenue was up 53.4% on a year-over-year basis. On average, research analysts expect that Astrana Health, Inc. will post 1.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Astrana Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP raised its position in shares of Astrana Health by 35.5% during the fourth quarter. Quarry LP now owns 1,799 shares of the company's stock valued at $57,000 after buying an additional 471 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Astrana Health by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,505 shares of the company's stock valued at $773,000 after acquiring an additional 915 shares during the last quarter. Swiss National Bank lifted its position in Astrana Health by 1.1% in the 4th quarter. Swiss National Bank now owns 88,444 shares of the company's stock valued at $2,789,000 after acquiring an additional 1,000 shares in the last quarter. US Bancorp DE lifted its position in Astrana Health by 21.3% in 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 in the last quarter. Finally, MetLife Investment Management LLC increased its stake in Astrana Health by 4.7% in the 4th quarter. MetLife Investment Management LLC now owns 26,284 shares of the company's stock valued at $829,000 after buying an additional 1,173 shares during the last quarter. 52.77% of the stock is currently owned by hedge funds and other 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.