Astrana Health (NASDAQ:ASTH) Hits New 1-Year High – Still a Buy?

Astrana Health, Inc. (NASDAQ:ASTH)’s share price hit a new 52-week high 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 Upgrades and Downgrades

ASTH has been the subject of several research analyst reports. Needham & Company LLC lifted their price objective on Astrana Health from $30.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. BTIG Research reaffirmed a “buy” rating and set a $50.00 target price on shares of Astrana Health in a research note on Tuesday, June 2nd. Zacks Research upgraded Astrana Health from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. Weiss Ratings raised Astrana Health from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 1st. Finally, 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 report on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $45.00.

Astrana Health Stock Up 2.7%

The company has a market cap of $2.22 billion, a P/E ratio of 65.47 and a beta of 1.00. The stock’s 50-day moving average price is $34.27 and its 200-day moving average price is $27.32. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.20.

Astrana Health (NASDAQ:ASTH) last issued its earnings results on Thursday, May 7th. The company reported $0.74 EPS 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 period in the previous year, the company posted $0.42 EPS. The firm’s revenue was up 55.6% compared to the same quarter last year. As a group, research analysts forecast that Astrana Health, Inc. will post 1.25 EPS for the current year.

Hedge Funds Weigh In On Astrana Health

A number of large investors have recently modified their holdings of ASTH. 325 Capital LLC grew its position in Astrana Health by 54.0% in the 4th quarter. 325 Capital LLC now owns 1,839,076 shares of the company’s stock valued at $45,627,000 after purchasing an additional 645,123 shares during the period. State Street Corp lifted its stake in shares of Astrana Health by 6.2% in the fourth quarter. State Street Corp now owns 1,675,516 shares of the company’s stock valued at $41,570,000 after buying an additional 98,064 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Astrana Health by 12.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,368,079 shares of the company’s stock valued at $33,545,000 after buying an additional 152,267 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Astrana Health by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 1,028,168 shares of the company’s stock valued at $25,513,000 after buying an additional 12,212 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Astrana Health by 418.3% during the fourth quarter. Wellington Management Group LLP now owns 738,853 shares of the company’s stock valued at $18,331,000 after buying an additional 596,293 shares during the last quarter. 52.77% of the stock is currently owned by institutional investors.

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.