Astrana Health (NASDAQ:ASTH) Price Target Raised to $45.00

Astrana Health (NASDAQ:ASTH) had its price objective increased by equities research analysts at Needham & Company LLC from $41.00 to $45.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC‘s price target would indicate a potential upside of 15.36% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Oppenheimer assumed coverage on shares of Astrana Health in a research note on Tuesday, September 15th. They set an “outperform” rating and a $53.00 target price on the stock. TD Cowen upped their price target on shares of Astrana Health from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Wall Street Zen lowered shares of Astrana Health from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. BTIG Research increased their price objective on shares of Astrana Health from $50.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Astrana Health in a research note on Thursday, August 27th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.38.

Astrana Health Price Performance

Shares of ASTH opened at $39.01 on Friday. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 47.57 and a beta of 1.18. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.23 and a current ratio of 1.23. Astrana Health has a one year low of $18.08 and a one year high of $51.60. The stock’s fifty day moving average is $37.06 and its 200-day moving average is $33.98.

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 the consensus estimate of $1.02 billion. Astrana Health had a net margin of 1.05% and a return on equity of 10.30%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.01 earnings per share. Equities analysts anticipate that Astrana Health will post 1.36 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ASTH. Sei Investments Co. increased its holdings in shares of Astrana Health by 94.4% in the first quarter. Sei Investments Co. now owns 134,899 shares of the company’s stock valued at $3,308,000 after buying an additional 65,509 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Astrana Health during the 2nd quarter valued at $10,902,000. Bank of America Corp DE boosted its stake in shares of Astrana Health by 13.3% during the 1st 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. Principal Financial Group Inc. boosted its stake in shares of Astrana Health by 15.7% during the 1st quarter. Principal Financial Group Inc. now owns 265,948 shares of the company’s stock worth $6,521,000 after acquiring an additional 36,150 shares in the last quarter. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Astrana Health during the 2nd quarter worth $22,088,000. 52.77% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Astrana Health

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

• Positive Sentiment: Third-quarter revenue was $1.02 billion, in line with consensus and up 7.1% from a year earlier. Earnings improved substantially from the year-ago quarter. Astrana Health Q3 Revenue Tops $1 Billion as Profit Surges
• Neutral Sentiment: EPS coverage is inconsistent: one report gives $0.71 per share, above its cited $0.46 consensus, while Zacks reports $0.26 per share against a $0.44 estimate. The figures may reflect different earnings measures or estimates, making the headline earnings comparison less clear. Astrana Health Q3 Earnings Lag Estimates
• Negative Sentiment: Despite the solid quarter, the company’s quarterly revenue guidance reportedly fell short of expectations. That weaker forward outlook is a likely source of investor concern and could outweigh the in-line revenue result. Q3 in line, but quarterly revenue guidance misses expectations

Astrana Health Company Profile

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.