State Street Corp Acquires New Shares in Agilon Health, Inc. $AGL

Key Points

• State Street Corp acquired 280,126 shares of Agilon Health in the second quarter, valued at approximately $30 million and representing about 1.67% of the company. Several other institutional investors also initiated positions.
• Analyst views remain mixed: the consensus rating is “Hold” across 15 analysts, with an average price target of $102.25, despite several firms raising their targets and one upgrade to “outperform.”
• Agilon reported quarterly revenue of $1.49 billion and adjusted EPS of $1.04, exceeding estimates, but continued to post negative net margins and return on equity; shares recently opened at $75.85.

State Street Corp bought a new position in Agilon Health, Inc. (NYSE:AGL - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 280,126 shares of the company's stock, valued at approximately $30,024,000. State Street Corp owned approximately 1.67% of Agilon Health as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AGL. The Manufacturers Life Insurance Company purchased a new position in shares of Agilon Health during the 2nd quarter valued at $355,000. Tidal Investments LLC acquired a new position in Agilon Health in the 2nd quarter worth about $1,405,000. Engineers Gate Manager LP purchased a new stake in shares of Agilon Health during the 2nd quarter worth about $516,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Agilon Health during the 2nd quarter worth about $384,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Agilon Health during the 2nd quarter valued at about $407,000.

Analysts Set New Price Targets

A number of equities analysts recently commented on AGL shares. Wells Fargo & Company restated an "overweight" rating and issued a $146.00 price objective (up from $141.00) on shares of Agilon Health in a report on Tuesday, August 11th. JPMorgan Chase & Co. boosted their target price on shares of Agilon Health from $31.00 to $85.00 and gave the stock an "underweight" rating in a research report on Monday, August 24th. Truist Financial set a $112.00 price target on shares of Agilon Health and gave the stock a "hold" rating in a research note on Thursday, August 6th. Benchmark restated a "buy" rating and set a $140.00 price target (up from $95.00) on shares of Agilon Health in a research note on Thursday, August 6th. Finally, Sanford C. Bernstein upgraded Agilon Health from a "market perform" rating to an "outperform" rating and raised their target price for the company from $86.00 to $125.00 in a report on Tuesday, September 15th. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $102.25.

Agilon Health Stock Performance

NYSE:AGL opened at $75.85 on Friday. Agilon Health, Inc. has a 1 year low of $7.48 and a 1 year high of $133.04. The firm's fifty day simple moving average is $94.72 and its 200 day simple moving average is $74.10. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.27 billion, a PE ratio of -5.32 and a beta of 3.02.

Agilon Health (NYSE:AGL - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.14 by $0.90. Agilon Health had a negative net margin of 3.92% and a negative return on equity of 119.38%. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.45 billion. On average, sell-side analysts anticipate that Agilon Health, Inc. will post -2.9 EPS for the current year.

About Agilon Health

Agilon Health, Inc is a healthcare company that partners with independent primary care physicians to support the transition from fee-for-service medicine to value-based care. The company focuses primarily on patients enrolled in Medicare Advantage plans and works with physician groups to coordinate care, improve outcomes and manage healthcare costs.

Agilon provides physicians with technology, analytics, operational support and clinical resources designed to help them manage the health of defined patient populations.

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