Astrana Health (NASDAQ:ASTH) Shares Up 7.9% – Here’s What Happened

Astrana Health, Inc. (NASDAQ:ASTH) traded up 7.9% during trading on Thursday . The company traded as high as $27.59 and last traded at $27.7180. 105,560 shares were traded during trading, a decline of 78% from the average session volume of 473,857 shares. The stock had previously closed at $25.68.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. BTIG Research reduced their price objective on shares of Astrana Health from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Needham & Company LLC assumed coverage on Astrana Health in a research note on Friday, December 12th. They issued a “buy” rating and a $28.00 target price for the company. Zacks Research raised Astrana Health from a “strong sell” rating to a “hold” rating in a report on Monday. TD Cowen cut their price objective on shares of Astrana Health from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, November 10th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Astrana Health in a research note on Tuesday, November 25th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $41.33.

Astrana Health Stock Performance

The company has a market cap of $1.54 billion, a P/E ratio of 144.09, a price-to-earnings-growth ratio of 0.68 and a beta of 0.87. The business has a 50 day moving average price of $24.09 and a two-hundred day moving average price of $26.83. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.40 and a current ratio of 1.40.

Astrana Health (NASDAQ:ASTH) last posted its earnings results on Thursday, November 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.46). The business had revenue of $956.05 million during the quarter, compared to the consensus estimate of $952.83 million. Astrana Health had a return on equity of 1.26% and a net margin of 0.33%.The firm’s revenue for the quarter was up 99.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 earnings per share. On average, sell-side analysts anticipate that Astrana Health, Inc. will post 1.15 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. grew its position in Astrana Health by 231.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 442,314 shares of the company’s stock worth $12,540,000 after purchasing an additional 308,665 shares during the period. 325 Capital LLC increased its position in Astrana Health by 34.6% during the third quarter. 325 Capital LLC now owns 1,193,953 shares of the company’s stock valued at $33,849,000 after acquiring an additional 307,037 shares during the last quarter. Pacer Advisors Inc. bought a new position in Astrana Health in the third quarter valued at about $5,157,000. Insight Wealth Strategies LLC purchased a new position in Astrana Health in the fourth quarter worth about $3,514,000. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in shares of Astrana Health by 44.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 421,710 shares of the company’s stock valued at $11,955,000 after purchasing an additional 129,270 shares during the period. 52.77% of the stock is owned by institutional investors.

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. 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.