Astrana Health (NASDAQ:ASTH) Shares Gap Down – What’s Next?

Astrana Health, Inc. (NASDAQ:ASTH) shares gapped down before the market opened on Wednesday . The stock had previously closed at $35.11, but opened at $33.08. Astrana Health shares last traded at $33.1350, with a volume of 27,393 shares changing hands.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Oppenheimer began coverage on Astrana Health in a research report on Tuesday, September 15th. They issued an “outperform” rating and a $53.00 price objective on the stock. Barclays lifted their target price on Astrana Health from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Wall Street Zen downgraded shares of Astrana Health from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. TD Cowen increased their price target on shares of Astrana Health from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Finally, Truist Financial lifted their price objective on shares of Astrana Health from $47.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.88.

Astrana Health Trading Down 5.3%

The company has a debt-to-equity ratio of 1.05, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a fifty day simple moving average of $38.42 and a two-hundred day simple moving average of $36.09. The firm has a market capitalization of $1.85 billion, a P/E ratio of 40.56 and a beta of 0.90.

Astrana Health (NASDAQ:ASTH) last issued its earnings results on Thursday, August 6th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.46. Astrana Health had a return on equity of 10.30% and a net margin of 1.05%.The firm had revenue of $972.52 million for the quarter, compared to analyst estimates of $985.62 million. During the same period in the previous year, the company posted $0.19 earnings per share. The business’s revenue was up 48.5% on a year-over-year basis. On average, equities research analysts anticipate 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 added to or reduced their stakes in the business. Tidal Investments LLC bought a new position in Astrana Health during the second quarter worth about $974,000. Engineers Gate Manager LP purchased a new stake in shares of Astrana Health during the 2nd quarter valued at approximately $989,000. Corient Private Wealth LP lifted its stake in shares of Astrana Health by 1.6% during the 2nd quarter. Corient Private Wealth LP now owns 24,905 shares of the company’s stock valued at $1,156,000 after buying an additional 399 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Astrana Health in the 2nd quarter worth approximately $529,000. Finally, Public Employees Retirement System of Ohio bought a new position in Astrana Health in the 2nd quarter worth approximately $51,000. 52.77% of the stock is owned by hedge funds and other institutional investors.

Astrana Health Company Profile

Astrana Health, Inc is a healthcare management and technology company that helps physicians and healthcare organizations deliver value-based care. The company supports provider groups, independent physicians and health systems with clinical, operational and administrative services designed to coordinate care, improve outcomes and manage healthcare costs.

Astrana Health’s platform includes care-management programs, analytics and population-health tools, technology solutions, physician practice support, and services for risk-bearing provider organizations.