Astrana Health (NASDAQ:ASTH) Shares Gap Up – Here’s Why

Astrana Health, Inc. (NASDAQ:ASTH)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $26.00, but opened at $26.80. Astrana Health shares last traded at $27.3950, with a volume of 74,280 shares.

Analyst Ratings Changes

Several brokerages have recently issued reports on ASTH. Zacks Research upgraded shares of Astrana Health from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 11th. BTIG Research cut their target price on shares of Astrana Health from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. Truist Financial raised their target price on shares of Astrana Health from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Weiss Ratings restated a “sell (d+)” rating on shares of Astrana Health in a report on Monday, December 29th. Finally, Needham & Company LLC began coverage on shares of Astrana Health in a report on Friday, December 12th. They issued a “buy” rating and a $28.00 target price on the stock. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Astrana Health Price Performance

The firm’s fifty day moving average price is $22.54 and its 200-day moving average price is $25.27. The stock has a market cap of $1.53 billion, a P/E ratio of 59.64 and a beta of 0.77. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.25.

Astrana Health (NASDAQ:ASTH) last announced its quarterly earnings results on Monday, March 2nd. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.39. Astrana Health had a return on equity of 5.59% and a net margin of 0.71%.The company had revenue of $950.53 million during the quarter, compared to analyst estimates of $930.46 million. During the same quarter last year, the firm posted ($0.15) earnings per share. The firm’s revenue was up 42.9% on a year-over-year basis. Analysts forecast that Astrana Health, Inc. will post 1.15 earnings per share for the current year.

Institutional Trading of Astrana Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its stake in Astrana Health by 57.9% in the fourth quarter. Signaturefd LLC now owns 1,058 shares of the company’s stock worth $26,000 after acquiring an additional 388 shares during the period. Amalgamated Bank lifted its stake in Astrana Health by 3.4% in the third quarter. Amalgamated Bank now owns 12,325 shares of the company’s stock worth $349,000 after acquiring an additional 409 shares during the period. Thrivent Financial for Lutherans lifted its stake in Astrana Health by 1.5% in the third quarter. Thrivent Financial for Lutherans now owns 30,977 shares of the company’s stock worth $878,000 after acquiring an additional 455 shares during the period. Principal Financial Group Inc. lifted its stake in Astrana Health by 0.3% in the third quarter. Principal Financial Group Inc. now owns 222,985 shares of the company’s stock worth $6,322,000 after acquiring an additional 611 shares during the period. Finally, Savant Capital LLC lifted its stake in Astrana Health by 2.2% in the third quarter. Savant Capital LLC now owns 30,713 shares of the company’s stock worth $871,000 after acquiring an additional 649 shares during the period. Hedge funds and other institutional investors own 52.77% of the company’s stock.

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. It offers care coordination services to patients, families, primary care physicians, specialists, acute care hospitals, alternative sites of inpatient care, physician groups, and health plans.