Astrana Health (NASDAQ:ASTH) Hits New 52-Week High – Here’s Why

Shares of Astrana Health, Inc. (NASDAQ:ASTH) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $40.13 and last traded at $39.90, with a volume of 341269 shares traded. The stock had previously closed at $38.73.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Robert W. Baird set a $45.00 price objective on Astrana Health in a research note on Friday, May 8th. Barclays upgraded Astrana Health from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $37.00 to $50.00 in a research note on Tuesday, May 26th. Weiss Ratings upgraded Astrana Health from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 1st. Needham & Company LLC lifted their price objective on Astrana Health from $30.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, TD Cowen lifted their price objective on Astrana Health from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

Astrana Health Price Performance

The stock has a 50 day simple moving average of $34.86 and a two-hundred day simple moving average of $27.52. The firm has a market cap of $2.15 billion, a PE ratio of 63.31 and a beta of 1.00. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.35 and a current ratio of 1.35.

Astrana Health (NASDAQ:ASTH) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.45. Astrana Health had a return on equity of 9.22% and a net margin of 0.86%.The business had revenue of $965.10 million during the quarter, compared to analyst estimates of $949.21 million. During the same quarter last year, the business posted $0.42 EPS. The company’s revenue was up 55.6% on a year-over-year basis. Sell-side analysts expect that Astrana Health, Inc. will post 1.25 earnings per share for the current year.

Hedge Funds Weigh In On Astrana Health

Institutional investors and hedge funds have recently modified their holdings of the business. Insight Wealth Strategies LLC purchased a new position in shares of Astrana Health in the 4th quarter valued at about $3,514,000. Quantbot Technologies LP increased its stake in shares of Astrana Health by 384.4% in the 3rd quarter. Quantbot Technologies LP now owns 40,659 shares of the company’s stock valued at $1,153,000 after purchasing an additional 32,265 shares in the last quarter. 325 Capital LLC increased its stake in shares of Astrana Health by 34.6% in the 3rd quarter. 325 Capital LLC now owns 1,193,953 shares of the company’s stock valued at $33,849,000 after purchasing an additional 307,037 shares in the last quarter. Hussman Strategic Advisors Inc. increased its stake in shares of Astrana Health by 200.0% in the 4th quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the company’s stock valued at $1,563,000 after purchasing an additional 42,000 shares in the last quarter. Finally, UBS Group AG increased its stake in shares of Astrana Health by 48.4% in the 4th quarter. UBS Group AG now owns 176,100 shares of the company’s stock valued at $4,369,000 after purchasing an additional 57,432 shares in the last quarter. Hedge funds and other institutional investors own 52.77% of the company’s stock.

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.