Astrana Health, Inc. (NASDAQ:ASTH) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Astrana Health holds a “Moderate Buy” consensus rating from 10 analysts, with eight buy ratings and two holds. The average 12-month price target is $49.88, above the stock’s recent $36.53 price.
• The company reported quarterly EPS of $0.80, beating the $0.34 analyst consensus, while revenue rose 48.5% year over year to $972.52 million, slightly below expectations.
• Institutional investors own 52.77% of Astrana Health, with several major funds recently initiating or increasing positions in the healthcare enablement company.

Astrana Health, Inc. (NASDAQ:ASTH - Get Free Report) has been given a consensus rating of "Moderate Buy" by the ten research firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $49.88.

Several research firms have recently weighed in on ASTH. Barclays raised their price target on shares of Astrana Health from $50.00 to $53.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Oppenheimer assumed coverage on Astrana Health in a research report on Tuesday, September 15th. They set an "outperform" rating and a $53.00 price objective for the company. BTIG Research increased their price objective 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. Truist Financial lifted their price objective on shares of Astrana Health from $47.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Finally, Wall Street Zen cut Astrana Health from a "buy" rating to a "hold" rating in a report on Sunday, August 16th.

Astrana Health Price Performance

Shares of NASDAQ ASTH opened at $36.53 on Monday. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 44.55 and a beta of 1.03. The business has a 50-day moving average of $37.09 and a 200-day moving average of $33.75. Astrana Health has a fifty-two week low of $18.08 and a fifty-two week high of $51.60. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.23 and a quick ratio of 1.23.

Astrana Health (NASDAQ:ASTH - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.46. The business had revenue of $972.52 million for the quarter, compared to analysts' expectations of $985.62 million. Astrana Health had a return on equity of 10.30% and a net margin of 1.05%. The business's revenue was up 48.5% on a year-over-year basis. During the same period last year, the business earned $0.19 EPS. As a group, sell-side analysts predict that Astrana Health will post 1.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Astrana Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Astrana Health during the second quarter worth approximately $22,088,000. Bank of New York Mellon Corp bought a new position in shares of Astrana Health in the second quarter valued at approximately $10,902,000. Dimensional Fund Advisors LP lifted its stake in Astrana Health by 12.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,368,079 shares of the company's stock valued at $33,545,000 after buying an additional 152,267 shares in the last quarter. NorthCrest Asset Manangement LLC increased its holdings in shares of Astrana Health by 628.4% in the third quarter. NorthCrest Asset Manangement LLC now owns 159,495 shares of the company's stock valued at $5,721,000 after purchasing an additional 137,598 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Astrana Health by 13.3% during the 1st quarter. Bank of America Corp DE now owns 574,729 shares of the company's stock valued at $14,092,000 after acquiring an additional 67,628 shares in the last quarter. 52.77% of the stock is owned by hedge funds and other institutional investors.

Astrana Health Company Profile

Astrana Health, Inc NASDAQ: ASTH, formerly known as Apollo Medical Holdings, is a healthcare enablement company focused on helping providers and health plans deliver coordinated, value-based care. The company combines physician networks, care-management capabilities, technology and data analytics to support improved clinical outcomes and more efficient healthcare delivery.

Astrana Health's services include population health management, physician practice support, utilization management, care coordination and clinical analytics.

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