Astrana Health (NASDAQ:ASTH) Trading Down 5.3% – Here’s Why

Astrana Health, Inc. (NASDAQ:ASTH) was down 5.3% on Wednesday . The stock traded as low as $46.25 and last traded at $46.38. Approximately 57,615 shares were traded during trading, a decline of 89% from the average session volume of 548,109 shares. The stock had previously closed at $49.00.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Robert W. Baird set a $45.00 target price on Astrana Health in a report on Friday, May 8th. Truist Financial boosted their price target on Astrana Health from $38.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Weiss Ratings upgraded shares of Astrana Health from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 1st. Needham & Company LLC boosted their target price on shares of Astrana Health from $30.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, TD Cowen raised their price target on shares of Astrana Health from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.86.

Astrana Health Price Performance

The firm has a market cap of $2.64 billion, a P/E ratio of 77.67 and a beta of 0.89. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.20. The business’s 50 day moving average is $40.87 and its two-hundred day moving average is $30.86.

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 the consensus estimate of $0.29 by $0.45. The company had revenue of $965.10 million during the quarter, compared to analyst estimates of $949.21 million. Astrana Health had a net margin of 0.86% and a return on equity of 9.22%. Astrana Health’s revenue for the quarter was up 55.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 EPS. As a group, analysts anticipate that Astrana Health, Inc. will post 1.25 earnings per share for the current year.

Hedge Funds Weigh In On Astrana Health

Several institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its holdings in shares of Astrana Health by 13.3% in the 1st quarter. Bank of America Corp DE now owns 574,729 shares of the company’s stock worth $14,092,000 after purchasing an additional 67,628 shares during the period. Edgestream Partners L.P. lifted its position in shares of Astrana Health by 68.3% during the 1st quarter. Edgestream Partners L.P. now owns 27,616 shares of the company’s stock valued at $677,000 after buying an additional 11,209 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Astrana Health by 24.5% during the 1st quarter. California State Teachers Retirement System now owns 51,371 shares of the company’s stock worth $1,260,000 after acquiring an additional 10,102 shares during the period. Quantinno Capital Management LP lifted its stake in shares of Astrana Health by 69.4% during the 1st quarter. Quantinno Capital Management LP now owns 64,509 shares of the company’s stock valued at $1,582,000 after buying an additional 26,418 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Astrana Health by 12.2% in the 1st quarter. Renaissance Technologies LLC now owns 104,546 shares of the company’s stock valued at $2,563,000 after buying an additional 11,400 shares in the last quarter. Institutional investors own 52.77% of the company’s stock.

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.