Astrana Health, Inc. $ASTH Shares Purchased by Bank of America Corp DE

Key Points

• Bank of America increased its Astrana Health stake by 13.3% in the first quarter, adding 67,628 shares to own 574,729 shares valued at approximately $14.1 million. Institutional investors collectively hold 52.77% of the company.
• Astrana Health reported quarterly EPS of $0.80, beating analyst expectations of $0.34, while revenue rose 48.5% year over year to $972.5 million, slightly below estimates.
• Analyst sentiment remains positive, with seven Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $49.43, versus the stock’s reported price of $39.35.

Bank of America Corp DE increased its stake in Astrana Health, Inc. (NASDAQ:ASTH - Free Report) by 13.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 574,729 shares of the company's stock after buying an additional 67,628 shares during the period. Bank of America Corp DE owned about 1.03% of Astrana Health worth $14,092,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Strs Ohio acquired a new position in Astrana Health during the 4th quarter valued at about $40,000. Tower Research Capital LLC TRC raised its position in Astrana Health by 323.3% in the second quarter. Tower Research Capital LLC TRC now owns 4,605 shares of the company's stock worth $115,000 after acquiring an additional 3,517 shares in the last quarter. State of Wyoming bought a new stake in Astrana Health in the second quarter worth about $132,000. Los Angeles Capital Management LLC acquired a new stake in Astrana Health in the 4th quarter valued at about $228,000. Finally, WINTON GROUP Ltd acquired a new stake in Astrana Health in the 2nd quarter valued at about $233,000. 52.77% of the stock is currently owned by institutional investors.

Astrana Health Stock Performance

NASDAQ:ASTH opened at $39.35 on Friday. The firm's 50-day moving average is $41.39 and its 200-day moving average is $33.39. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 47.99 and a beta of 0.87. 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 52-week low of $18.08 and a 52-week high of $51.60.

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 analysts' consensus estimates of $0.34 by $0.46. Astrana Health had a return on equity of 10.30% and a net margin of 1.05%.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 prior year, the firm posted $0.19 EPS. Astrana Health's quarterly revenue was up 48.5% compared to the same quarter last year. Equities research analysts anticipate that Astrana Health, Inc. will post 1.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ASTH. Wall Street Zen cut shares of Astrana Health from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. BTIG Research raised their price objective on Astrana Health from $50.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Robert W. Baird set a $45.00 target price on Astrana Health in a report on Friday, May 8th. Needham & Company LLC boosted their target price on Astrana Health from $30.00 to $41.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Finally, Truist Financial upped their target price on Astrana Health from $47.00 to $55.00 and gave the company a "buy" rating in a report on Monday, August 10th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.43.

Astrana Health Profile

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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