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

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

Wall Street Analysts Forecast Growth

Separately, Barclays initiated coverage on Astrana Health in a research report on Tuesday, April 1st. They issued an "equal weight" rating and a $36.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Astrana Health currently has an average rating of "Moderate Buy" and a consensus target price of $53.29.

Astrana Health Stock Performance

The firm has a fifty day simple moving average of $25.24 and a 200-day simple moving average of $30.13. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 31.46, a P/E/G ratio of 0.83 and a beta of 0.84. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.54.

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

Institutional Investors Weigh In On Astrana Health

Several hedge funds and other institutional investors have recently made changes to their positions in ASTH. Pilgrim Partners Asia Pte Ltd purchased a new stake in Astrana Health in the 4th quarter worth approximately $40,000. Quarry LP lifted its stake in 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 in the last quarter. Covestor Ltd lifted its stake in Astrana Health by 777.6% in the 1st quarter. Covestor Ltd now owns 2,001 shares of the company's stock worth $62,000 after purchasing an additional 1,773 shares in the last quarter. AlphaQuest LLC increased its holdings in shares of Astrana Health by 144.2% in the 1st quarter. AlphaQuest LLC now owns 4,883 shares of the company's stock worth $151,000 after buying an additional 2,883 shares during the last quarter. Finally, US Bancorp DE increased its holdings in shares of Astrana Health by 21.3% in the 1st quarter. US Bancorp DE now owns 5,791 shares of the company's stock worth $180,000 after buying an additional 1,015 shares during the last quarter. 52.77% of the stock is 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.