Astrana Health (NASDAQ:ASTH) Stock Gets Price Target Increase from Needham & Company LLC

Astrana Health (NASDAQ:ASTH) had its price target lifted by analysts at Needham & Company LLC from $41.00 to $45.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC‘s target price suggests a potential upside of 30.43% from the stock’s previous close.

A number of other research firms have also commented on ASTH. Oppenheimer began coverage on shares of Astrana Health in a research report on Tuesday, September 15th. They issued an “outperform” rating and a $53.00 price objective for the company. Barclays increased their target price on shares of Astrana Health from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Truist Financial raised their price target on shares of Astrana Health from $47.00 to $55.00 and gave the company a “buy” rating in a report on Monday, August 10th. Weiss Ratings restated a “hold (c)” rating on shares of Astrana Health in a research report on Thursday, August 27th. Finally, BTIG Research upped their price target on shares of Astrana Health from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $50.38.

Astrana Health Stock Performance

NASDAQ:ASTH opened at $34.50 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.23 and a current ratio of 1.23. Astrana Health has a 52-week low of $18.08 and a 52-week high of $51.60. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 32.24 and a beta of 1.18. The business’s fifty day moving average is $36.98 and its 200 day moving average is $34.02.

Astrana Health (NASDAQ:ASTH) last issued its earnings results on Thursday, November 5th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.46 by $0.25. Astrana Health had a return on equity of 11.75% and a net margin of 1.36%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the company earned $0.01 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. Research analysts predict that Astrana Health will post 1.36 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Maryland State Retirement & Pension System boosted its holdings in shares of Astrana Health by 50.7% during the 3rd quarter. Maryland State Retirement & Pension System now owns 9,303 shares of the company’s stock valued at $331,000 after buying an additional 3,129 shares in the last quarter. Penn Capital Management Company LLC grew its holdings in shares of Astrana Health by 13.9% during the third quarter. Penn Capital Management Company LLC now owns 19,565 shares of the company’s stock valued at $696,000 after buying an additional 2,388 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in Astrana Health by 19.3% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 13,600 shares of the company’s stock valued at $484,000 after purchasing an additional 2,200 shares during the last quarter. Simplicity Wealth LLC bought a new stake in Astrana Health in the 3rd quarter worth about $296,000. Finally, Sterling Capital Management LLC grew its stake in shares of Astrana Health by 17.2% in the third quarter. Sterling Capital Management LLC now owns 9,269 shares of the company’s stock worth $330,000 after acquiring an additional 1,359 shares during the period. Hedge funds and other institutional investors own 52.77% of the company’s stock.

Key Astrana Health News

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

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.