Astrana Health, Inc. $ASTH Shares Sold by SteelPeak Wealth LLC

Key Points

• SteelPeak Wealth reduced its Astrana Health stake by 6.4% in the third quarter, selling 29,793 shares and retaining 435,144 shares worth approximately $15.5 million. Institutional investors and hedge funds collectively own 52.77% of the company.
• Astrana Health reported quarterly EPS of $0.80, beating analyst estimates of $0.34, while revenue rose 48.5% year over year to $972.5 million. The stock opened at $36.81, with a market capitalization of about $2.05 billion.
• Analysts remain broadly positive, with eight Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $49.88. Barclays, Truist Financial and BTIG Research recently raised their price targets.

SteelPeak Wealth LLC cut its stake in shares of Astrana Health, Inc. (NASDAQ:ASTH - Free Report) by 6.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 435,144 shares of the company's stock after selling 29,793 shares during the period. SteelPeak Wealth LLC owned about 0.78% of Astrana Health worth $15,478,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Corient Private Wealth LP grew its position in shares of Astrana Health by 1.6% in 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 during the period. Farther Finance Advisors LLC raised its position in shares of Astrana Health by 730.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 689 shares of the company's stock worth $25,000 after purchasing an additional 606 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Astrana Health during the 2nd quarter worth about $51,000. Cetera Investment Advisers lifted its stake in Astrana Health by 15.4% in the 1st quarter. Cetera Investment Advisers now owns 21,430 shares of the company's stock valued at $525,000 after buying an additional 2,863 shares in the last quarter. Finally, First Citizens Bank & Trust Co. lifted its stake in Astrana Health by 48.3% in the 1st quarter. First Citizens Bank & Trust Co. now owns 16,614 shares of the company's stock valued at $407,000 after buying an additional 5,408 shares in the last quarter. 52.77% of the stock is currently owned by institutional investors and hedge funds.

Astrana Health Price Performance

Shares of NASDAQ ASTH opened at $36.81 on Friday. The firm has a 50-day simple moving average of $37.28 and a 200-day simple moving average of $37.53. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 44.89 and a beta of 1.03. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.05. 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 posted its quarterly earnings results on Thursday, August 6th. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.46. Astrana Health had a net margin of 1.05% and a return on equity of 10.30%. The firm had revenue of $972.52 million for the quarter, compared to analyst estimates of $985.62 million. During the same period in the previous year, the business posted $0.19 earnings per share. Astrana Health's quarterly revenue was up 48.5% on a year-over-year basis. On average, equities analysts predict that Astrana Health, Inc. will post 1.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Astrana Health in a report on Thursday, August 27th. Barclays increased their target price on Astrana Health from $50.00 to $53.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Truist Financial raised their target price on Astrana Health from $47.00 to $55.00 and gave the company a "buy" rating in a research report on Monday, August 10th. BTIG Research raised their target price on Astrana Health from $50.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen lowered Astrana Health from a "buy" rating to a "hold" rating in a research note on Sunday, August 16th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $49.88.

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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