Astrana Health (NASDAQ:ASTH) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Astrana Health, Inc. (NASDAQ:ASTH) saw strong trading volume on Monday . 404,675 shares traded hands during trading, an increase of 107% from the previous session’s volume of 195,506 shares.The stock last traded at $58.89 and had previously closed at $56.23.

Analysts Set New Price Targets

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

Astrana Health Stock Performance

The stock has a market cap of $3.50 billion, a P/E ratio of 47.38, a price-to-earnings-growth ratio of 2.20 and a beta of 1.21. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.84 and a quick ratio of 1.84. The stock’s 50 day simple moving average is $52.28 and its two-hundred day simple moving average is $45.48.

Astrana Health (NASDAQ:ASTH) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Astrana Health had a return on equity of 10.71% and a net margin of 4.30%. The company had revenue of $486.30 million for the quarter, compared to analyst estimates of $440.68 million. During the same period in the previous year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up 39.7% compared to the same quarter last year. As a group, research analysts forecast that Astrana Health, Inc. will post 1.33 EPS for the current year.

Hedge Funds Weigh In On Astrana Health

Large investors have recently modified their holdings of the business. Central Pacific Bank Trust Division bought a new stake in Astrana Health during the third quarter worth about $160,000. SG Americas Securities LLC bought a new stake in shares of Astrana Health during the 3rd quarter worth approximately $680,000. Granite Bay Wealth Management LLC bought a new stake in shares of Astrana Health during the 3rd quarter worth approximately $290,000. Handelsbanken Fonder AB acquired a new stake in shares of Astrana Health in the 3rd quarter valued at approximately $492,000. Finally, GAMMA Investing LLC bought a new position in shares of Astrana Health in the third quarter valued at $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.