Astrana Health (NASDAQ:ASTH) Trading Down 7.8% – What’s Next?

Astrana Health, Inc. (NASDAQ:ASTH)’s share price traded down 7.8% during trading on Wednesday . The company traded as low as $42.43 and last traded at $41.9150. 286,455 shares traded hands during trading, a decline of 48% from the average session volume of 550,410 shares. The stock had previously closed at $45.46.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Needham & Company LLC boosted their price objective on Astrana Health from $30.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Weiss Ratings upgraded Astrana Health from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 1st. Robert W. Baird set a $45.00 price target on shares of Astrana Health in a report on Friday, May 8th. TD Cowen increased their price target on shares of Astrana Health from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Finally, Barclays upgraded shares of Astrana Health from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $37.00 to $50.00 in a report on Tuesday, May 26th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $47.86.

Astrana Health Stock Down 7.8%

The firm has a market capitalization of $2.34 billion, a PE ratio of 68.75 and a beta of 0.89. The stock has a 50-day simple moving average of $41.66 and a 200-day simple moving average of $31.58. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.20.

Astrana Health (NASDAQ:ASTH) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.45. The firm had revenue of $965.10 million for the quarter, compared to analysts’ expectations of $949.21 million. Astrana Health had a return on equity of 9.22% and a net margin of 0.86%.The business’s revenue for the quarter was up 55.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. Analysts forecast that Astrana Health, Inc. will post 1.25 EPS for the current year.

Institutional Investors Weigh In On Astrana Health

Institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC boosted its position in Astrana Health by 57.9% during the fourth quarter. Signaturefd LLC now owns 1,058 shares of the company’s stock worth $26,000 after purchasing an additional 388 shares during the period. GAMMA Investing LLC raised its position in shares of Astrana Health by 144.7% in the fourth quarter. GAMMA Investing LLC now owns 1,473 shares of the company’s stock valued at $37,000 after purchasing an additional 871 shares during the period. Strs Ohio purchased a new stake in shares of Astrana Health during the 4th quarter valued at approximately $40,000. Tower Research Capital LLC TRC lifted its stake in shares of Astrana Health by 323.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,605 shares of the company’s stock valued at $115,000 after buying an additional 3,517 shares in the last quarter. Finally, State of Wyoming bought a new position in Astrana Health in the 2nd quarter worth approximately $132,000. 52.77% of the stock is owned by hedge funds and other institutional investors.

Astrana Health Company 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.