Agilon Health (NYSE:AGL) Trading Up 10.3% Following Better-Than-Expected Earnings

Agilon Health, Inc. (NYSE:AGL) traded up 10.3% on Wednesday following a stronger than expected earnings report. The stock traded as high as $108.24 and last traded at $104.50. 163,457 shares traded hands during trading, a decline of 53% from the average session volume of 348,156 shares. The stock had previously closed at $94.78.

The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.90. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Agilon Health had a negative net margin of 3.92% and a negative return on equity of 122.70%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Barclays set a $111.00 price objective on Agilon Health and gave the stock an “equal weight” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft upgraded Agilon Health from a “hold” rating to a “buy” rating and boosted their target price for the stock from $33.00 to $49.00 in a research note on Thursday, May 7th. JPMorgan Chase & Co. downgraded Agilon Health from a “neutral” rating to an “underweight” rating and set a $21.00 price target for the company. in a report on Monday, May 4th. Wells Fargo & Company reiterated an “overweight” rating and issued a $141.00 price target (up from $72.00) on shares of Agilon Health in a research note on Monday, July 13th. Finally, Citigroup cut shares of Agilon Health from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $80.00 to $105.00 in a report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $84.82.

Institutional Trading of Agilon Health

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in shares of Agilon Health by 9.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 35,336 shares of the company’s stock valued at $3,787,000 after purchasing an additional 3,074 shares during the last quarter. Alpine Global Management LLC purchased a new position in Agilon Health during the 4th quarter worth approximately $84,000. Invesco Ltd. increased its position in Agilon Health by 30.7% during the fourth quarter. Invesco Ltd. now owns 1,004,266 shares of the company’s stock worth $692,000 after buying an additional 235,951 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in Agilon Health in the fourth quarter valued at approximately $86,000. Finally, Numerai GP LLC lifted its stake in Agilon Health by 207.3% in the fourth quarter. Numerai GP LLC now owns 1,228,071 shares of the company’s stock valued at $846,000 after buying an additional 828,472 shares during the last quarter.

Agilon Health Price Performance

The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -6.70 and a beta of 3.01. The company has a fifty day moving average price of $106.72 and a two-hundred day moving average price of $55.69.

About Agilon Health

Agilon Health (NYSE: AGL) is a healthcare company that partners with independent primary care physicians to deliver value-based care for Medicare beneficiaries. Through risk-sharing arrangements, Agilon assumes financial responsibility for patient populations, enabling physicians to focus on preventive and proactive health management. The company provides the administrative, clinical and operational infrastructure needed to support comprehensive care delivery.

Agilon’s platform encompasses data analytics, care management, patient engagement tools and population health programs.