Astrana Health (NASDAQ:ASTH) Shares Down 16.9% – Time to Sell?

Astrana Health, Inc. (NASDAQ:ASTH) fell 16.9% during mid-day trading on Friday. The company traded as low as $33.25 and last traded at $32.40. Approximately 53,060 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 499,360 shares. The stock had previously closed at $39.01.

Astrana Health News Roundup

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

• Positive Sentiment: Needham & Company raised its price target to $45 from $41 and reiterated a “buy” rating, implying roughly 29% upside from the cited $34.77 price. Needham analyst ratings
• Positive Sentiment: Third-quarter revenue reached $1.02 billion, up 7.1% year over year, and matched analyst expectations. Earnings coverage cited EPS of $0.71, above the $0.46 consensus; profit also rose substantially from a year earlier. Third-quarter results
• Negative Sentiment: Investors may be concerned that Astrana’s quarterly revenue guidance fell short of expectations, tempering the better current-quarter results. Zacks separately reported EPS of $0.26 versus its $0.44 consensus estimate, indicating reported earnings comparisons vary by source or measure. Quarterly results and guidance

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ASTH. Weiss Ratings restated a “hold (c)” rating on shares of Astrana Health in a research report on Thursday, August 27th. Truist Financial lifted their price target on shares of Astrana Health from $47.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, August 10th. TD Cowen boosted their price target on Astrana Health from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Oppenheimer started coverage on Astrana Health in a research report on Tuesday, September 15th. They set an “outperform” rating and a $53.00 price target on the stock. Finally, BTIG Research increased their price target on Astrana Health from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.38.

Astrana Health Stock Down 11.3%

The company has a market cap of $1.93 billion, a P/E ratio of 41.97 and a beta of 1.18. The stock has a 50-day moving average of $37.06 and a 200 day moving average of $33.98. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.23 and a quick ratio of 1.23.

Astrana Health (NASDAQ:ASTH) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.25. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Astrana Health had a net margin of 1.05% and a return on equity of 10.30%. Astrana Health’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.01 earnings per share. Research analysts anticipate that Astrana Health, Inc. will post 1.36 earnings per share for the current year.

Hedge Funds Weigh In On Astrana Health

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of Astrana Health by 12.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,368,079 shares of the company’s stock worth $33,545,000 after buying an additional 152,267 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor bought a new position in Astrana Health in the second quarter valued at about $22,088,000. Bank of America Corp DE raised its stake in Astrana Health by 13.3% during the first quarter. Bank of America Corp DE now owns 574,729 shares of the company’s stock worth $14,092,000 after acquiring an additional 67,628 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Astrana Health in the 2nd quarter valued at approximately $10,902,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Astrana Health by 15.7% in the 1st quarter. Principal Financial Group Inc. now owns 265,948 shares of the company’s stock valued at $6,521,000 after purchasing an additional 36,150 shares in the last quarter. 52.77% of the stock is currently owned by institutional investors and hedge funds.

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.