Astrana Health (NASDAQ:ASTH) Hits New 12-Month Low Following Weak Earnings

Astrana Health, Inc. (NASDAQ:ASTH) shares reached a new 52-week low on Friday following a weaker than expected earnings announcement. The company traded as low as $25.59 and last traded at $25.73, with a volume of 62907 shares changing hands. The stock had previously closed at $34.68.

The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.37). Astrana Health had a return on equity of 9.37% and a net margin of 3.63%. The company had revenue of $665.21 million for the quarter, compared to the consensus estimate of $617.24 million.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Truist Financial dropped their target price on shares of Astrana Health from $59.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Stifel Nicolaus lowered their price target on shares of Astrana Health from $70.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Robert W. Baird boosted their target price on shares of Astrana Health from $67.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Macquarie upgraded shares of Astrana Health to a “hold” rating in a research note on Monday, December 16th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $65.60.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC acquired a new position in Astrana Health during the 3rd quarter worth about $1,164,000. Royce & Associates LP acquired a new position in Astrana Health during the 3rd quarter worth about $6,661,000. Amalgamated Bank acquired a new position in Astrana Health during the 3rd quarter worth about $713,000. Principal Financial Group Inc. acquired a new position in Astrana Health during the 3rd quarter worth about $13,383,000. Finally, Loomis Sayles & Co. L P acquired a new position in Astrana Health during the 3rd quarter worth about $30,251,000. Institutional investors and hedge funds own 52.77% of the company’s stock.

Astrana Health Trading Down 26.8 %

The company’s 50-day moving average is $35.01 and its 200-day moving average is $44.65. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 19.52, a P/E/G ratio of 1.37 and a beta of 1.20. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.91 and a current ratio of 1.91.

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.