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

Shares of Astrana Health, Inc. (NASDAQ:ASTH) hit a new 52-week low during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $25.59 and last traded at $25.73, with a volume of 62907 shares trading hands. The stock had previously closed at $34.68.

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

Analyst Ratings Changes

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

Institutional Trading of Astrana Health

Several institutional investors have recently made changes to their positions in ASTH. Vanguard Group Inc. raised its position in Astrana Health by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 4,685,959 shares of the company’s stock valued at $147,748,000 after purchasing an additional 20,757 shares during the period. State Street Corp acquired a new position in Astrana Health in the third quarter valued at about $91,966,000. Dimensional Fund Advisors LP increased its position in shares of Astrana Health by 10.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,045,540 shares of the company’s stock valued at $32,968,000 after acquiring an additional 101,192 shares during the last quarter. Geode Capital Management LLC acquired a new position in shares of Astrana Health in the 3rd quarter worth approximately $58,995,000. Finally, 325 Capital LLC grew its stake in shares of Astrana Health by 30.3% in the fourth quarter. 325 Capital LLC now owns 886,916 shares of the company’s stock valued at $27,964,000 after buying an additional 206,009 shares in the last quarter. Hedge funds and other institutional investors own 52.77% of the company’s stock.

Astrana Health Trading Down 26.8 %

The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.91 and a current ratio of 1.91. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 1.37 and a beta of 1.20. The company has a 50 day moving average of $34.84 and a 200-day moving average of $44.50.

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.