Astrana Health (NASDAQ:ASTH) Stock Price Down 5.5% - Here's Why

Key Points

• Astrana Health shares fell 5.5% to approximately $35.63 in light trading, with volume down 96% from the average daily level.
• Analysts remain broadly positive: eight rate the stock a Buy and two rate it Hold, producing a “Moderate Buy” consensus and an average price target of $49.88.
• The company reported strong quarterly earnings, with EPS of $0.80 versus the $0.34 estimate and revenue up 48.5% year over year, although revenue slightly missed expectations.

Astrana Health, Inc. (NASDAQ:ASTH - Get Free Report)'s share price dropped 5.5% during trading on Thursday . The company traded as low as $36.66 and last traded at $35.6280. 22,706 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 522,498 shares. The stock had previously closed at $37.70.

Analyst Ratings Changes

Several brokerages recently issued reports on ASTH. TD Cowen upped their price target on shares of Astrana Health from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. BTIG Research raised their price objective on shares of Astrana Health from $50.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Oppenheimer assumed coverage on shares of Astrana Health in a research note on Tuesday. They issued an "outperform" rating and a $53.00 target price for the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Astrana Health in a research report on Thursday, August 27th. Finally, Barclays increased their price target on shares of Astrana Health from $50.00 to $53.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $49.88.

Astrana Health Trading Down 2.1%

The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 45.01 and a beta of 0.90. 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 business's 50-day simple moving average is $39.48 and its 200-day simple moving average is $35.80.

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 business had revenue of $972.52 million during the quarter, compared to the consensus estimate of $985.62 million. During the same period in the previous year, the firm posted $0.19 earnings per share. Astrana Health's revenue for the quarter was up 48.5% compared to the same quarter last year. On average, research analysts expect that Astrana Health, Inc. will post 1.32 earnings per share for the current fiscal year.

Institutional Trading of Astrana Health

Hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in Astrana Health in the second quarter valued at approximately $51,000. State of Wyoming grew its holdings in shares of Astrana Health by 61.9% in the 4th quarter. State of Wyoming now owns 10,473 shares of the company's stock valued at $260,000 after buying an additional 4,004 shares during the period. Fifth Third Bancorp grew its holdings in shares of Astrana Health by 4,855.4% in the 1st quarter. Fifth Third Bancorp now owns 12,438 shares of the company's stock valued at $305,000 after buying an additional 12,187 shares during the period. First Citizens Bank & Trust Co. increased its position in shares of 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. Finally, Illinois Municipal Retirement Fund bought a new stake in shares of Astrana Health in the 1st quarter valued at $453,000. 52.77% of the stock is currently owned by institutional investors and hedge funds.

Astrana Health Company Profile

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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