Astrana Health (NASDAQ:ASTH) Stock Price Down 7.8% – Here’s Why

Astrana Health, Inc. (NASDAQ:ASTH)’s share price was down 7.8% during trading on Wednesday . The stock 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 Analyst Weigh In

Several research analysts recently weighed in on ASTH shares. Weiss Ratings upgraded Astrana Health from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 1st. Robert W. Baird set a $45.00 price objective on Astrana Health in a research report on Friday, May 8th. Barclays raised 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 research note on Tuesday, May 26th. Needham & Company LLC lifted their target price on shares of Astrana Health from $30.00 to $41.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, BTIG Research boosted their target price on shares of Astrana Health from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.86.

Astrana Health Price Performance

The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 67.20 and a beta of 0.89. The stock has a 50-day moving average price of $41.74 and a 200 day moving average price of $31.81.

Astrana Health (NASDAQ:ASTH) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.45. The company had revenue of $965.10 million during 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%.Astrana Health’s quarterly revenue was up 55.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS. As a group, equities research analysts expect that Astrana Health, Inc. will post 1.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Signaturefd LLC lifted its stake in shares of Astrana Health by 57.9% in the fourth quarter. Signaturefd LLC now owns 1,058 shares of the company’s stock worth $26,000 after buying an additional 388 shares in the last quarter. GAMMA Investing LLC grew its stake in Astrana Health by 144.7% during the 4th quarter. GAMMA Investing LLC now owns 1,473 shares of the company’s stock valued at $37,000 after acquiring an additional 871 shares in the last quarter. Swiss National Bank grew its stake in Astrana Health by 1.2% during the 3rd quarter. Swiss National Bank now owns 86,944 shares of the company’s stock valued at $2,465,000 after acquiring an additional 1,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Astrana Health by 5.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,768 shares of the company’s stock valued at $799,000 after acquiring an additional 1,263 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in Astrana Health by 3.9% in the 4th quarter. Deutsche Bank AG now owns 41,265 shares of the company’s stock valued at $1,024,000 after acquiring an additional 1,550 shares during the last quarter. 52.77% of the stock is owned by institutional investors and hedge funds.

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.