Astrana Health (NASDAQ:ASTH) Trading Down 7.8% - What's Next?

Key Points

• Astrana Health shares fell 7.8% in Wednesday trading, dropping to as low as $42.43 on lighter-than-normal volume.
• Despite the stock pullback, Wall Street remains upbeat: seven analysts rate ASTH a Buy, with a consensus price target of $47.86.
• The company recently posted strong Q1 results, beating EPS and revenue estimates as revenue jumped 55.6% year over year.

Astrana Health, Inc. (NASDAQ:ASTH - Get Free Report)'s share price traded down 7.8% during mid-day trading on Wednesday . The company traded as low as $42.43 and last traded at $41.9150. 286,455 shares were traded during trading, a decline of 48% from the average session volume of 550,410 shares. The stock had previously closed at $45.46.

Wall Street Analyst Weigh In

A number of research firms have commented on ASTH. Truist Financial raised their price target on shares of Astrana Health from $38.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, May 14th. BTIG Research upped their price objective on shares of Astrana Health from $50.00 to $65.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. TD Cowen increased their price objective on shares of Astrana Health from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Robert W. Baird set a $45.00 target price on Astrana Health in a research note on Friday, May 8th. Finally, Weiss Ratings upgraded Astrana Health from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, June 1st. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $47.86.

Astrana Health Stock Performance

The stock has a market cap of $2.34 billion, a price-to-earnings ratio of 68.75 and a beta of 0.89. The company's fifty day simple moving average is $41.66 and its two-hundred day simple moving average is $31.58. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.35 and a quick ratio of 1.35.

Astrana Health (NASDAQ:ASTH - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.45. The firm had revenue of $965.10 million during the quarter, compared to analysts' expectations of $949.21 million. Astrana Health had a net margin of 0.86% and a return on equity of 9.22%. The business's revenue was up 55.6% on a year-over-year basis. During the same period last year, the company earned $0.42 earnings per share. On average, analysts forecast that Astrana Health, Inc. will post 1.25 earnings per share for the current year.

Hedge Funds Weigh In On Astrana Health

Several large investors have recently bought and sold shares of the stock. 325 Capital LLC lifted its position in shares of Astrana Health by 54.0% during the fourth quarter. 325 Capital LLC now owns 1,839,076 shares of the company's stock valued at $45,627,000 after purchasing an additional 645,123 shares in the last quarter. Wellington Management Group LLP increased its stake in Astrana Health by 418.3% in the 4th quarter. Wellington Management Group LLP now owns 738,853 shares of the company's stock valued at $18,331,000 after buying an additional 596,293 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Astrana Health by 231.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 442,314 shares of the company's stock valued at $12,540,000 after buying an additional 308,665 shares during the last quarter. Earnest Partners LLC bought a new position in shares of Astrana Health during the 4th quarter worth approximately $4,850,000. Finally, 1492 Capital Management LLC bought a new position in shares of Astrana Health during the 4th quarter worth approximately $4,162,000. 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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