137,598 Astrana Health, Inc. $ASTH Shares Purchased by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management increased its Astrana Health stake by 628.4% in the third quarter, purchasing 137,598 additional shares for a total position of 159,495 shares valued at approximately $5.72 million.
• Institutional ownership remains substantial, with hedge funds and other institutional investors holding 52.77% of Astrana Health’s outstanding shares.
• Analysts maintain a favorable outlook, with eight Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $49.88. The company also reported quarterly EPS of $0.80, well above the $0.34 estimate, while revenue grew 48.5% year over year.

NorthCrest Asset Manangement LLC grew its position in shares of Astrana Health, Inc. (NASDAQ:ASTH - Free Report) by 628.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 159,495 shares of the company's stock after acquiring an additional 137,598 shares during the period. NorthCrest Asset Manangement LLC owned about 0.29% of Astrana Health worth $5,721,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC raised its position in shares of Astrana Health by 730.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 689 shares of the company's stock worth $25,000 after acquiring an additional 606 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of Astrana Health during the second quarter valued at approximately $974,000. Engineers Gate Manager LP bought a new stake in shares of Astrana Health during the second quarter valued at approximately $989,000. Corient Private Wealth LP boosted its position in shares of Astrana Health by 1.6% during the second quarter. Corient Private Wealth LP now owns 24,905 shares of the company's stock valued at $1,156,000 after purchasing an additional 399 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Astrana Health in the second quarter worth $529,000. 52.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ASTH. Weiss Ratings reissued a "hold (c)" rating on shares of Astrana Health in a research report on Thursday, August 27th. Barclays upped their target price on shares of Astrana Health from $50.00 to $53.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. BTIG Research increased their price target on shares of Astrana Health from $50.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Truist Financial lifted their price target on shares of Astrana Health from $47.00 to $55.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Finally, TD Cowen boosted their price objective on shares of Astrana Health from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Astrana Health presently has an average rating of "Moderate Buy" and an average price target of $49.88.

Astrana Health Stock Down 1.4%

NASDAQ:ASTH opened at $37.87 on Wednesday. The firm has a market cap of $2.11 billion, a P/E ratio of 22.72 and a beta of 1.03. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.23 and a current ratio of 1.23. Astrana Health, Inc. has a fifty-two week low of $18.08 and a fifty-two week high of $51.60. The firm has a 50-day simple moving average of $37.14 and a two-hundred day simple moving average of $37.35.

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

Astrana Health Company Profile

Astrana Health, Inc is a healthcare enablement company that helps physicians and other healthcare providers deliver coordinated, value-based care. The company works with medical groups, independent physician associations and healthcare organizations to manage patient populations, improve clinical outcomes and coordinate services across primary, specialty and post-acute care settings.

Astrana Health provides care-management programs, population-health analytics, technology solutions and administrative support designed to help providers manage risk-based reimbursement arrangements.

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