Astrana Health (NASDAQ:ASTH) Stock Price Down 16.9% – Time to Sell?

Astrana Health, Inc. (NASDAQ:ASTH)’s share price fell 16.9% on Friday. The company traded as low as $33.25 and last traded at $32.40. Approximately 53,060 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 499,360 shares. The stock had previously closed at $39.01.

Trending Headlines about Astrana Health

Here are the key news stories impacting Astrana Health this week:

• Positive Sentiment: Needham & Company raised its price target to $45 from $41 and reiterated a “buy” rating, implying roughly 29% upside from the cited $34.77 price. Needham analyst ratings
• Positive Sentiment: Third-quarter revenue reached $1.02 billion, up 7.1% year over year, and matched analyst expectations. Earnings coverage cited EPS of $0.71, above the $0.46 consensus; profit also rose substantially from a year earlier. Third-quarter results
• Negative Sentiment: Investors may be concerned that Astrana’s quarterly revenue guidance fell short of expectations, tempering the better current-quarter results. Zacks separately reported EPS of $0.26 versus its $0.44 consensus estimate, indicating reported earnings comparisons vary by source or measure. Quarterly results and guidance

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ASTH. Barclays boosted 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 increased their price target on Astrana Health from $47.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Astrana Health in a report on Thursday, August 27th. Needham & Company LLC boosted their price objective on Astrana Health from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday. Finally, BTIG Research upped their target price on 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 assigned a Hold rating to the company’s stock. According to MarketBeat.com, Astrana Health has an average rating of “Moderate Buy” and an average target price of $50.38.

Astrana Health Stock Performance

The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.05. The company’s 50-day simple moving average is $37.06 and its 200-day simple moving average is $33.98. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 41.97 and a beta of 1.18.

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

Institutional Trading of Astrana Health

Institutional investors and hedge funds have recently bought and sold shares of the stock. Maryland State Retirement & Pension System raised its position in Astrana Health by 50.7% during the 3rd quarter. Maryland State Retirement & Pension System now owns 9,303 shares of the company’s stock worth $331,000 after purchasing an additional 3,129 shares during the last quarter. Penn Capital Management Company LLC grew its position in shares of Astrana Health by 13.9% in the 3rd 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 grew its position in shares of Astrana Health by 19.3% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 13,600 shares of the company’s stock valued at $484,000 after buying an additional 2,200 shares during the last quarter. Simplicity Wealth LLC acquired a new stake in shares of Astrana Health in the third quarter valued at about $296,000. Finally, Sterling Capital Management LLC increased 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 valued at $330,000 after buying an additional 1,359 shares during the period. 52.77% of the stock is currently owned by institutional investors and hedge funds.

Astrana Health Company Profile

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.