agilon health (NYSE:AGL) Shares Down 8% - Here's Why

agilon health, inc. (NYSE:AGL - Get Free Report)'s share price dropped 8% during mid-day trading on Tuesday . The company traded as low as $3.20 and last traded at $3.22. Approximately 1,871,620 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 4,954,811 shares. The stock had previously closed at $3.50.

Wall Street Analysts Forecast Growth

AGL has been the topic of a number of analyst reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $8.00 target price on shares of agilon health in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered their target price on agilon health from $5.00 to $4.00 and set a "hold" rating for the company in a research note on Friday, August 9th. Benchmark reaffirmed a "buy" rating and issued a $9.00 price target on shares of agilon health in a research note on Thursday, August 8th. Bank of America cut shares of agilon health from a "buy" rating to an "underperform" rating and set a $3.00 target price on the stock. in a report on Wednesday, October 2nd. Finally, Evercore ISI lowered their price target on shares of agilon health from $7.00 to $4.00 and set an "in-line" rating for the company in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, agilon health presently has a consensus rating of "Hold" and an average target price of $8.03.

agilon health Trading Down 5.1 %

The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.37 billion, a PE ratio of -4.70 and a beta of 0.54. The stock has a 50 day moving average price of $4.07 and a 200 day moving average price of $5.29.

agilon health (NYSE:AGL - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, meeting analysts' consensus estimates of ($0.07). The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.56 billion. agilon health had a negative net margin of 5.57% and a negative return on equity of 29.91%. The company's quarterly revenue was up 38.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.04) EPS. Sell-side analysts predict that agilon health, inc. will post -0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other agilon health news, CEO Steven Sell bought 20,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was purchased at an average cost of $3.36 per share, for a total transaction of $67,200.00. Following the completion of the acquisition, the chief executive officer now owns 67,590 shares of the company's stock, valued at approximately $227,102.40. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.20% of the company's stock.

Hedge Funds Weigh In On agilon health

Several large investors have recently modified their holdings of AGL. Arizona State Retirement System increased its stake in agilon health by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 85,989 shares of the company's stock valued at $562,000 after purchasing an additional 2,070 shares in the last quarter. Swiss National Bank increased its position in shares of agilon health by 0.6% during the first quarter. Swiss National Bank now owns 602,800 shares of the company's stock valued at $3,677,000 after acquiring an additional 3,400 shares in the last quarter. J.Safra Asset Management Corp raised its holdings in agilon health by 626.1% in the 2nd quarter. J.Safra Asset Management Corp now owns 4,204 shares of the company's stock worth $27,000 after acquiring an additional 3,625 shares during the last quarter. Renaissance Capital LLC lifted its position in agilon health by 3.0% in the 1st quarter. Renaissance Capital LLC now owns 191,122 shares of the company's stock valued at $1,166,000 after acquiring an additional 5,551 shares in the last quarter. Finally, CWM LLC boosted its stake in agilon health by 406.5% during the 2nd quarter. CWM LLC now owns 9,081 shares of the company's stock valued at $59,000 after purchasing an additional 7,288 shares during the last quarter.

About agilon health

agilon health, inc. provides healthcare services for seniors through primary care physicians in the communities of the United States. It offers a platform that manages the total healthcare needs of the patients by subscription-like per-member per-month. The company was formerly known as Agilon Health Topco, Inc and changed its name to agilon health, inc.

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