Astrana Health (NASDAQ:ASTH) Shares Down 11.7% – Should You Sell?

Astrana Health, Inc. (NASDAQ:ASTH) dropped 11.7% during mid-day trading on Friday . The company traded as low as $51.85 and last traded at $52.18. Approximately 28,410 shares changed hands during trading, a decline of 86% from the average daily volume of 196,608 shares. The stock had previously closed at $59.08.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. KeyCorp began coverage on shares of Astrana Health in a report on Friday, October 11th. They issued a “sector weight” rating on the stock. Robert W. Baird lifted their target price on Astrana Health from $54.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Truist Financial raised their price objective on shares of Astrana Health from $50.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Stifel Nicolaus upped their price target on Astrana Health from $48.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, TD Cowen initiated coverage on Astrana Health in a research report on Monday, October 14th. They issued a “buy” rating and a $66.00 target price on the stock. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $62.00.

Astrana Health Stock Performance

The stock has a 50 day simple moving average of $55.53 and a 200 day simple moving average of $47.40. The stock has a market cap of $2.33 billion, a P/E ratio of 36.24, a price-to-earnings-growth ratio of 2.07 and a beta of 1.24. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.62.

Astrana Health (NASDAQ:ASTH) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Astrana Health had a net margin of 4.30% and a return on equity of 10.71%. The firm had revenue of $486.30 million for the quarter, compared to the consensus estimate of $440.68 million. During the same period in the prior year, the company posted $0.28 earnings per share. The business’s revenue for the quarter was up 39.7% on a year-over-year basis. On average, equities analysts expect that Astrana Health, Inc. will post 1.31 earnings per share for the current year.

Institutional Trading of Astrana Health

Several large investors have recently made changes to their positions in the company. Central Pacific Bank Trust Division bought a new stake in Astrana Health during the third quarter worth $160,000. SG Americas Securities LLC acquired a new position in shares of Astrana Health during the 3rd quarter worth $680,000. Granite Bay Wealth Management LLC bought a new stake in shares of Astrana Health during the 3rd quarter worth $290,000. Handelsbanken Fonder AB acquired a new stake in Astrana Health in the third quarter valued at approximately $492,000. Finally, GAMMA Investing LLC bought a new stake in shares of Astrana Health during the third quarter worth about $34,000. Institutional investors and hedge funds own 52.77% of the company’s stock.

Astrana Health Company Profile

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.