Astrana Health (NASDAQ:ASTH) Stock Crosses Below 50-Day Moving Average – Here’s Why

Shares of Astrana Health, Inc. (NASDAQ:ASTH) crossed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $36.98 and traded as low as $31.46. Astrana Health shares last traded at $34.50, with a volume of 1,064,102 shares trading hands.

More Astrana Health News

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

• Positive Sentiment: Needham raised its price target from $41 to $45 and reiterated a Buy rating, implying about 31% upside from the cited $34.38 share price. Needham rating information
• Positive Sentiment: Third-quarter revenue reached $1.02 billion, matching estimates and increasing 7.1% year over year; the company also reported a substantial improvement in earnings compared with the prior-year quarter. Astrana Health third-quarter results
• Negative Sentiment: Reports said Astrana’s quarterly revenue guidance fell short of expectations. That weaker forward outlook may have outweighed the revenue growth and profit improvement in the reported quarter, pressuring the shares. Report on results and guidance

Analyst Upgrades and Downgrades

ASTH has been the topic of a number of research reports. BTIG Research increased their target price on shares of Astrana Health from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Wall Street Zen downgraded shares of Astrana Health from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Truist Financial upped their price objective on Astrana Health from $47.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Needham & Company LLC increased their price objective on Astrana Health from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Friday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Astrana Health in a report on Thursday, August 27th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $50.38.

Astrana Health Price Performance

The stock’s 50 day moving average is $36.98 and its two-hundred day moving average is $34.02. The stock has a market capitalization of $1.92 billion, a PE ratio of 32.24 and a beta of 1.18. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.23 and a quick ratio of 1.23.

Astrana Health (NASDAQ:ASTH) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.25. Astrana Health had a net margin of 1.36% and a return on equity of 11.75%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm earned $0.01 earnings per share. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts forecast that Astrana Health, Inc. will post 1.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Astrana Health

Several institutional investors have recently modified their holdings of the company. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Astrana Health in the 2nd quarter valued at about $22,088,000. Bank of New York Mellon Corp purchased a new position in Astrana Health during the 2nd quarter worth approximately $10,902,000. Dimensional Fund Advisors LP grew its stake in Astrana Health by 12.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,368,079 shares of the company’s stock worth $33,545,000 after buying an additional 152,267 shares during the last quarter. NorthCrest Asset Manangement LLC increased its position in Astrana Health by 628.4% during the third quarter. NorthCrest Asset Manangement LLC now owns 159,495 shares of the company’s stock worth $5,721,000 after buying an additional 137,598 shares during the period. Finally, Bank of America Corp DE increased its position in Astrana Health by 13.3% during the first quarter. Bank of America Corp DE now owns 574,729 shares of the company’s stock worth $14,092,000 after buying an additional 67,628 shares during the period. 52.77% of the stock is owned by hedge funds and other institutional investors.

About Astrana Health

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.