Astrana Health (NASDAQ:ASTH) Shares Gap Down - Time to Sell?

Key Points

• Astrana Health shares fell 5.3%, opening at $33.08 versus a prior close of $35.11, and later trading near $33.14.
• Despite the decline, analysts remain broadly positive: eight rate the stock a Buy and two a Hold, with a “Moderate Buy” consensus and an average price target of $49.88.
• The company reported strong quarterly earnings, with EPS of $0.80 versus a $0.34 estimate and revenue growth of 48.5% year over year, although revenue slightly missed expectations.

Astrana Health, Inc. (NASDAQ:ASTH - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $35.11, but opened at $33.08. Astrana Health shares last traded at $33.1350, with a volume of 27,393 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ASTH shares. TD Cowen upped their price target on Astrana Health from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. BTIG Research raised their price objective on Astrana Health from $50.00 to $65.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Truist Financial boosted their price objective on Astrana Health from $47.00 to $55.00 and gave the company a "buy" rating in a report on Monday, August 10th. Barclays upped their target price on Astrana Health from $50.00 to $53.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Astrana Health in a report on Thursday, August 27th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Astrana Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.88.

Astrana Health Stock Down 5.3%

The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 40.56 and a beta of 0.90. The stock's fifty day moving average is $38.42 and its two-hundred day moving average is $36.09.

Astrana Health (NASDAQ:ASTH - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.46. The business had revenue of $972.52 million for the quarter, compared to analysts' expectations of $985.62 million. Astrana Health had a net margin of 1.05% and a return on equity of 10.30%. The firm's revenue for the quarter was up 48.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 EPS. Sell-side analysts predict that Astrana Health, Inc. will post 1.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Tidal Investments LLC purchased a new stake in shares of Astrana Health in the second quarter valued at about $974,000. Engineers Gate Manager LP purchased a new position in Astrana Health during the second quarter worth about $989,000. Corient Private Wealth LP grew its position in Astrana Health by 1.6% in the 2nd quarter. Corient Private Wealth LP now owns 24,905 shares of the company's stock worth $1,156,000 after purchasing an additional 399 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Astrana Health in the 2nd quarter worth about $529,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Astrana Health in the 2nd quarter valued at about $51,000. Institutional investors own 52.77% of the company's stock.

About Astrana Health

Astrana Health, Inc is a healthcare management and technology company that helps physicians and healthcare organizations deliver value-based care. The company supports provider groups, independent physicians and health systems with clinical, operational and administrative services designed to coordinate care, improve outcomes and manage healthcare costs.

Astrana Health's platform includes care-management programs, analytics and population-health tools, technology solutions, physician practice support, and services for risk-bearing provider organizations.

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