Astrana Health (NASDAQ:ASTH) Trading Down 11.7% – Here’s Why

Astrana Health, Inc. (NASDAQ:ASTH)’s stock price fell 11.7% on Friday . The company traded as low as $51.85 and last traded at $52.18. 28,410 shares were traded during trading, a decline of 86% from the average session volume of 196,608 shares. The stock had previously closed at $59.08.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Truist Financial lifted their target price on Astrana Health from $50.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Robert W. Baird increased their price target on shares of Astrana Health from $54.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. BTIG Research upped their target price on Astrana Health from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. KeyCorp initiated coverage on Astrana Health in a research note on Friday, October 11th. They set a “sector weight” rating for the company. Finally, TD Cowen started coverage on Astrana Health in a research report on Monday, October 14th. They set a “buy” rating and a $66.00 target price on the stock. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Astrana Health presently has a consensus rating of “Buy” and a consensus price target of $62.00.

Astrana Health Stock Down 19.5 %

The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 2.07 and a beta of 1.24. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.84 and a current ratio of 1.84. The business’s 50-day moving average is $55.53 and its 200-day moving average is $47.40.

Astrana Health (NASDAQ:ASTH) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. The firm had revenue of $486.30 million during the quarter, compared to the consensus estimate of $440.68 million. Astrana Health had a return on equity of 10.71% and a net margin of 4.30%. During the same quarter in the previous year, the company posted $0.28 EPS. The business’s revenue for the quarter was up 39.7% compared to the same quarter last year. On average, equities analysts predict that Astrana Health, Inc. will post 1.31 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ASTH. Central Pacific Bank Trust Division bought a new stake in shares of Astrana Health during the third quarter worth approximately $160,000. SG Americas Securities LLC bought a new stake in shares of Astrana Health during the 3rd quarter valued at $680,000. Granite Bay Wealth Management LLC bought a new stake in shares of Astrana Health during the 3rd quarter valued at $290,000. Handelsbanken Fonder AB acquired a new position in shares of Astrana Health in the 3rd quarter valued at $492,000. Finally, GAMMA Investing LLC bought a new position in shares of Astrana Health in the 3rd quarter worth $34,000. 52.77% of the stock is currently owned by institutional investors and hedge funds.

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.