Astrana Health (NASDAQ:ASTH) Shares Gap Up – Still a Buy?

Astrana Health, Inc. (NASDAQ:ASTH)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $29.29, but opened at $32.00. Astrana Health shares last traded at $32.09, with a volume of 35,865 shares changing hands.

Analyst Ratings Changes

ASTH has been the subject of a number of analyst reports. Macquarie upgraded Astrana Health to a “hold” rating in a research note on Monday, December 16th. Barclays began coverage on shares of Astrana Health in a research report on Tuesday, April 1st. They set an “equal weight” rating and a $36.00 price target for the company. Bank of America reduced their price objective on shares of Astrana Health from $55.00 to $49.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Truist Financial cut their price target on shares of Astrana Health from $50.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Finally, Stifel Nicolaus lowered their price objective on Astrana Health from $70.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Astrana Health has a consensus rating of “Moderate Buy” and a consensus price target of $53.29.

Astrana Health Price Performance

The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 1.37 and a beta of 1.04. The stock’s 50 day moving average price is $32.47 and its two-hundred day moving average price is $40.18. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.60.

Astrana Health (NASDAQ:ASTH) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.37). The company had revenue of $665.21 million during the quarter, compared to analyst estimates of $617.24 million. Astrana Health had a net margin of 3.63% and a return on equity of 9.37%. Equities research analysts forecast that Astrana Health, Inc. will post 1.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Astrana Health

Several large investors have recently made changes to their positions in the company. Handelsbanken Fonder AB raised its position in shares of Astrana Health by 4.7% in the fourth quarter. Handelsbanken Fonder AB now owns 8,900 shares of the company’s stock worth $281,000 after acquiring an additional 400 shares during the period. Quarry LP raised its holdings in Astrana Health by 35.5% in the 4th quarter. Quarry LP now owns 1,799 shares of the company’s stock worth $57,000 after purchasing an additional 471 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Astrana Health by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,505 shares of the company’s stock worth $773,000 after purchasing an additional 915 shares in the last quarter. Swiss National Bank grew its holdings in Astrana Health by 1.1% in the fourth quarter. Swiss National Bank now owns 88,444 shares of the company’s stock valued at $2,789,000 after purchasing an additional 1,000 shares during the period. Finally, MetLife Investment Management LLC raised its stake in shares of Astrana Health by 4.7% during the 4th quarter. MetLife Investment Management LLC now owns 26,284 shares of the company’s stock worth $829,000 after buying an additional 1,173 shares during the period. 52.77% of the stock is currently owned by institutional investors and hedge funds.

About Astrana Health

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.