Agilon Health (NYSE:AGL) Shares Climb 4.4% - Still a Buy?

Key Points

• Agilon Health shares rose 4.4% to about $79.17 in midday trading, though volume was 96% below the average daily level.
• Analyst sentiment remains mixed: Bernstein and Benchmark upgraded the stock, while JPMorgan maintained an underweight rating. The overall consensus is “Hold”, with a $102.25 average price target.
• The company beat quarterly expectations, reporting $1.04 in adjusted earnings per share versus a $0.14 consensus estimate and $1.49 billion in revenue. However, analysts expect a full-year loss, and Agilon continues to report negative profitability metrics.

Agilon Health, Inc. (NYSE:AGL - Get Free Report)'s share price traded up 4.4% during mid-day trading on Friday. The stock traded as high as $78.24 and last traded at $79.1680. Approximately 15,002 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 335,667 shares. The stock had previously closed at $75.83.

Analyst Ratings Changes

AGL has been the topic of a number of recent research reports. Sanford C. Bernstein upgraded Agilon Health from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $86.00 to $125.00 in a report on Tuesday, September 15th. Citigroup upgraded Agilon Health from a "sell" rating to a "neutral" rating and increased their price target for the company from $105.00 to $115.00 in a research report on Monday, August 10th. Robert W. Baird set a $116.00 price target on Agilon Health in a research note on Thursday, August 6th. Benchmark restated a "buy" rating and set a $140.00 price objective (up from $95.00) on shares of Agilon Health in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Agilon Health from $31.00 to $85.00 and gave the company an "underweight" rating in a research note on Monday, August 24th. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $102.25.

Agilon Health Stock Performance

The firm has a 50 day moving average of $94.72 and a 200-day moving average of $74.10. The stock has a market capitalization of $1.41 billion, a PE ratio of -5.86 and a beta of 3.02. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.08.

Agilon Health (NYSE:AGL - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.90. The company had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.45 billion. Agilon Health had a negative return on equity of 119.38% and a negative net margin of 3.92%. Research analysts forecast that Agilon Health, Inc. will post -2.9 earnings per share for the current year.

Institutional Trading of Agilon Health

Several hedge funds and other institutional investors have recently modified their holdings of AGL. Rubicon Founders LLC bought a new stake in shares of Agilon Health in the 2nd quarter valued at approximately $11,290,448. Tidal Investments LLC acquired a new stake in Agilon Health in the second quarter valued at approximately $1,405,000. State Street Corp acquired a new stake in Agilon Health in the second quarter valued at approximately $30,024,000. Great Lakes Advisors LLC bought a new stake in Agilon Health in the second quarter worth approximately $702,000. Finally, Alpine Global Management LLC bought a new stake in Agilon Health in the fourth quarter worth approximately $84,000.

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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