Needham & Company LLC Issues Positive Forecast for Astrana Health (NASDAQ:ASTH) Stock Price

Astrana Health (NASDAQ:ASTH) had its price target boosted by Needham & Company LLC from $41.00 to $45.00 in a research note released on Friday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other equities research analysts have also commented on the stock. Barclays raised their price objective on shares of Astrana Health from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Wall Street Zen lowered shares of Astrana Health from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. TD Cowen upped their target price on shares of Astrana Health from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Oppenheimer started coverage on Astrana Health in a report on Tuesday, September 15th. They set an “outperform” rating and a $53.00 target price for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Astrana Health in a research note on Thursday, August 27th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.38.

Astrana Health Stock Down 11.6%

Shares of ASTH traded down $4.51 on Friday, hitting $34.50. The company’s stock had a trading volume of 1,064,102 shares, compared to its average volume of 291,966. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.05. The firm’s fifty day moving average price is $36.98 and its 200-day moving average price is $34.02. Astrana Health has a fifty-two week low of $18.08 and a fifty-two week high of $51.60. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 32.24 and a beta of 1.18.

Astrana Health (NASDAQ:ASTH) last announced its earnings results on Thursday, November 5th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.46 by $0.25. Astrana Health had a net margin of 1.05% and a return on equity of 10.30%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the company posted $0.01 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities research analysts expect that Astrana Health will post 1.36 EPS for the current year.

Hedge Funds Weigh In On Astrana Health

Hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its position in shares of Astrana Health by 730.1% in the third quarter. Farther Finance Advisors LLC now owns 689 shares of the company’s stock valued at $25,000 after acquiring an additional 606 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Astrana Health during the second quarter valued at approximately $51,000. Simplicity Wealth LLC bought a new position in Astrana Health in the third quarter valued at approximately $296,000. Sterling Capital Management LLC grew its stake in Astrana Health by 17.2% in the third quarter. Sterling Capital Management LLC now owns 9,269 shares of the company’s stock valued at $330,000 after purchasing an additional 1,359 shares in the last quarter. Finally, Maryland State Retirement & Pension System grew its stake in Astrana Health by 50.7% in the third quarter. Maryland State Retirement & Pension System now owns 9,303 shares of the company’s stock valued at $331,000 after purchasing an additional 3,129 shares in the last quarter. Institutional investors own 52.77% of the company’s stock.

Astrana Health News Roundup

Here are the key news stories impacting Astrana Health this week:

• Positive Sentiment: Needham raised its price target from $41 to $45 and reiterated a Buy rating, implying about 31% upside from the cited $34.38 share price. Needham rating information
• Positive Sentiment: Third-quarter revenue reached $1.02 billion, matching estimates and increasing 7.1% year over year; the company also reported a substantial improvement in earnings compared with the prior-year quarter. Astrana Health third-quarter results
• Negative Sentiment: Reports said Astrana’s quarterly revenue guidance fell short of expectations. That weaker forward outlook may have outweighed the revenue growth and profit improvement in the reported quarter, pressuring the shares. Report on results and guidance

About Astrana Health

Astrana Health, Inc (NASDAQ: ASTH), formerly known as Apollo Medical Holdings, is a healthcare enablement company focused on helping providers and health plans deliver coordinated, value-based care. The company combines physician networks, care-management capabilities, technology and data analytics to support improved clinical outcomes and more efficient healthcare delivery.

Astrana Health’s services include population health management, physician practice support, utilization management, care coordination and clinical analytics.