Astrana Health (NASDAQ:ASTH) Trading Down 11.7% - What's Next?

Astrana Health, Inc. (NASDAQ:ASTH - Get Free Report)'s share price dropped 11.7% during trading on Friday . The stock traded as low as $51.85 and last traded at $52.18. Approximately 28,410 shares traded hands during trading, a decline of 86% from the average daily volume of 196,608 shares. The stock had previously closed at $59.08.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ASTH. Robert W. Baird lifted their price objective on shares of Astrana Health from $54.00 to $67.00 and gave the company an "outperform" rating in a research report on Thursday, August 15th. TD Cowen started coverage on Astrana Health in a report on Monday, October 14th. They set a "buy" rating and a $66.00 price target on the stock. Stifel Nicolaus increased their price objective on Astrana Health from $48.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. KeyCorp began coverage on Astrana Health in a research note on Friday, October 11th. They set a "sector weight" rating on the stock. Finally, Truist Financial boosted their price target on Astrana Health from $50.00 to $59.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $62.00.

Astrana Health Price Performance

The business has a 50-day simple moving average of $55.51 and a two-hundred day simple moving average of $47.53. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 32.61, a P/E/G ratio of 2.27 and a beta of 1.24.

Astrana Health (NASDAQ:ASTH - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. Astrana Health had a return on equity of 10.71% and a net margin of 4.30%. The business had revenue of $486.30 million during the quarter, compared to analysts' expectations of $440.68 million. During the same quarter last year, the business posted $0.28 earnings per share. The company's quarterly revenue was up 39.7% on a year-over-year basis. As a group, research analysts predict that Astrana Health, Inc. will post 1.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new position in Astrana Health in the 3rd quarter worth about $34,000. Nisa Investment Advisors LLC purchased a new stake in Astrana Health during the third quarter valued at about $35,000. KBC Group NV acquired a new position in shares of Astrana Health in the third quarter worth about $70,000. Quest Partners LLC purchased a new position in shares of Astrana Health in the third quarter worth approximately $133,000. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of Astrana Health during the third quarter valued at approximately $160,000. Institutional investors and hedge funds own 52.77% of the company's stock.

Astrana Health Company Profile

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.