Wellington Management Group LLP Decreases Stock Position in Astrana Health, Inc. $ASTH

Key Points

• Wellington Management reduced its Astrana Health stake by 3.7% in the second quarter, selling 49,251 shares and retaining 1.29 million shares valued at approximately $60 million. Institutional investors collectively own 52.77% of the company.
• Analyst sentiment remains positive, with seven Buy ratings and two Hold ratings producing a “Moderate Buy” consensus and an average price target of $49.43. Recent price targets range as high as $65.
• Astrana Health reported quarterly EPS of $0.80, beating estimates of $0.34, while revenue rose 48.5% year over year to $972.5 million. Shares opened at $38.57, versus a 52-week range of $18.08 to $51.60.

Wellington Management Group LLP decreased its position in Astrana Health, Inc. (NASDAQ:ASTH - Free Report) by 3.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,292,573 shares of the company's stock after selling 49,251 shares during the quarter. Wellington Management Group LLP owned 2.32% of Astrana Health worth $59,988,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new position in shares of Astrana Health during the second quarter worth $51,000. Great Lakes Advisors LLC purchased a new stake in Astrana Health during the 2nd quarter worth $832,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in Astrana Health during the 2nd quarter worth $22,088,000. Bank of New York Mellon Corp purchased a new stake in Astrana Health during the 2nd quarter worth $10,902,000. Finally, Bank of America Corp DE lifted its holdings in Astrana Health by 13.3% in the 1st quarter. Bank of America Corp DE now owns 574,729 shares of the company's stock worth $14,092,000 after buying an additional 67,628 shares in the last quarter. Hedge funds and other institutional investors own 52.77% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ASTH. Wall Street Zen downgraded Astrana Health from a "buy" rating to a "hold" rating in a research note on Sunday, August 16th. Barclays boosted their price target on Astrana Health from $50.00 to $53.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. BTIG Research increased their price target on Astrana Health from $50.00 to $65.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Truist Financial raised their price objective on Astrana Health from $47.00 to $55.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Astrana Health in a report on Thursday, August 27th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $49.43.

Astrana Health Price Performance

Shares of ASTH stock opened at $38.57 on Thursday. The firm has a market cap of $2.15 billion, a P/E ratio of 47.04 and a beta of 0.90. 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, Inc. has a 1-year low of $18.08 and a 1-year high of $51.60. The firm has a fifty day moving average of $41.19 and a two-hundred day moving average of $34.49.

Astrana Health (NASDAQ:ASTH - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.46. The company had revenue of $972.52 million during the quarter, compared to the consensus estimate of $985.62 million. Astrana Health had a net margin of 1.05% and a return on equity of 10.30%. The company's revenue was up 48.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.19 EPS. As a group, research analysts anticipate that Astrana Health, Inc. will post 1.32 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.