Agilon Health (NYSE:AGL) Trading 10.3% Higher on Strong Earnings

Agilon Health, Inc. (NYSE:AGL)’s stock price rose 10.3% during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $108.24 and last traded at $104.50. 163,457 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 348,156 shares. The stock had previously closed at $94.78.

The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 3.92% and a negative return on equity of 122.70%.

Analysts Set New Price Targets

AGL has been the topic of several research reports. Barclays set a $111.00 price objective on shares of Agilon Health and gave the company an “equal weight” rating in a report on Thursday. TD Cowen reissued a “hold” rating and issued a $55.00 price target (up from $17.00) on shares of Agilon Health in a research report on Monday, May 11th. Citigroup lowered Agilon Health from a “neutral” rating to a “sell” rating and lifted their target price for the company from $80.00 to $105.00 in a research note on Thursday, July 23rd. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $141.00 price objective (up from $72.00) on shares of Agilon Health in a research report on Monday, July 13th. Finally, Jefferies Financial Group upgraded shares of Agilon Health from a “hold” rating to a “buy” rating and raised their target price for the company from $27.50 to $48.00 in a research note on Thursday, May 7th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $84.82.

Hedge Funds Weigh In On Agilon Health

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in Agilon Health by 9.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 35,336 shares of the company’s stock worth $3,787,000 after acquiring an additional 3,074 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Agilon Health by 3.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 214,200 shares of the company’s stock valued at $927,000 after acquiring an additional 7,209 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of Agilon Health by 28.4% during the first quarter. Dynamic Technology Lab Private Ltd now owns 47,111 shares of the company’s stock worth $204,000 after acquiring an additional 10,424 shares during the period. Apollon Wealth Management LLC lifted its position in Agilon Health by 17.4% in the fourth quarter. Apollon Wealth Management LLC now owns 82,348 shares of the company’s stock valued at $57,000 after purchasing an additional 12,193 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Agilon Health by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 346,031 shares of the company’s stock worth $796,000 after buying an additional 13,700 shares in the last quarter.

Agilon Health Trading Up 10.7%

The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -6.76 and a beta of 3.01. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.04 and a current ratio of 1.04. The business has a fifty day moving average of $106.72 and a two-hundred day moving average of $55.69.

Agilon Health Company Profile

Agilon Health (NYSE: AGL) is a healthcare company that partners with independent primary care physicians to deliver value-based care for Medicare beneficiaries. Through risk-sharing arrangements, Agilon assumes financial responsibility for patient populations, enabling physicians to focus on preventive and proactive health management. The company provides the administrative, clinical and operational infrastructure needed to support comprehensive care delivery.

Agilon’s platform encompasses data analytics, care management, patient engagement tools and population health programs.