Astrana Health (NASDAQ:ASTH) Share Price Crosses Below 50-Day Moving Average – What’s Next?

Astrana Health, Inc. (NASDAQ:ASTH)’s stock price passed below its fifty day moving average during trading on Friday. The stock has a fifty 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.

Astrana Health News Roundup

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 Ratings Changes

ASTH has been the topic of a number of research analyst reports. Truist Financial boosted their price target on Astrana Health from $47.00 to $55.00 and gave the company a “buy” rating in a report on Monday, August 10th. Wall Street Zen downgraded Astrana Health from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. BTIG Research raised their target price on Astrana Health from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. TD Cowen raised their price objective on Astrana Health from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Astrana Health in a research report on Thursday, August 27th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.38.

Astrana Health Price Performance

The stock has a fifty day moving average of $36.98 and a 200 day moving average of $34.02. 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 stock has a market cap of $1.92 billion, a price-to-earnings ratio of 32.24 and a beta of 1.18.

Astrana Health (NASDAQ:ASTH) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.25. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Astrana Health had a return on equity of 10.30% and a net margin of 1.05%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.01 earnings per share. On average, analysts expect that Astrana Health, Inc. will post 1.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. lifted its position in shares of Astrana Health by 94.4% during the first quarter. Sei Investments Co. now owns 134,899 shares of the company’s stock valued at $3,308,000 after purchasing an additional 65,509 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Astrana Health during the second quarter valued at about $10,902,000. Bank of America Corp DE grew its holdings in Astrana Health by 13.3% in the first quarter. Bank of America Corp DE now owns 574,729 shares of the company’s stock valued at $14,092,000 after purchasing an additional 67,628 shares during the period. Principal Financial Group Inc. boosted its position in shares of Astrana Health by 15.7% during the first quarter. Principal Financial Group Inc. now owns 265,948 shares of the company’s stock worth $6,521,000 after buying an additional 36,150 shares during the period. Finally, NorthCrest Asset Manangement LLC raised its stake in Astrana Health by 628.4% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 159,495 shares of the company’s stock valued at $5,721,000 after acquiring an additional 137,598 shares during the last quarter. 52.77% of the stock is owned by 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.