Astrana Health (NASDAQ:ASTH) Reaches New 12-Month High – Here’s What Happened

Shares of Astrana Health, Inc. (NASDAQ:ASTH) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $61.55 and last traded at $61.33, with a volume of 114378 shares trading hands. The stock had previously closed at $59.64.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ASTH shares. TD Cowen assumed coverage on Astrana Health in a report on Monday. They set a “buy” rating and a $66.00 target price on the stock. KeyCorp assumed coverage on Astrana Health in a research report on Friday. They set a “sector weight” rating for the company. Robert W. Baird upped their target price on shares of Astrana Health from $54.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Stifel Nicolaus boosted their price objective on shares of Astrana Health from $48.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, BTIG Research lifted their target price on shares of Astrana Health from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Astrana Health presently has a consensus rating of “Buy” and an average price target of $62.00.

Astrana Health Trading Up 2.4 %

The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.62. The business’s fifty day moving average is $52.01 and its 200-day moving average is $45.34. The stock has a market capitalization of $3.42 billion, a PE ratio of 46.27, a P/E/G ratio of 2.20 and a beta of 1.21.

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, beating the consensus estimate of $0.39 by $0.01. The company had revenue of $486.30 million during the quarter, compared to analysts’ expectations of $440.68 million. Astrana Health had a net margin of 4.30% and a return on equity of 10.71%. The business’s quarterly revenue was up 39.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 EPS. As a group, analysts anticipate that Astrana Health, Inc. will post 1.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Astrana Health

Large investors have recently modified their holdings of the company. GAMMA Investing LLC acquired a new stake in Astrana Health during the 3rd quarter worth approximately $34,000. Central Pacific Bank Trust Division purchased a new stake in Astrana Health during the third quarter worth approximately $160,000. Granite Bay Wealth Management LLC acquired a new stake in shares of Astrana Health in the third quarter worth $290,000. Handelsbanken Fonder AB acquired a new stake in Astrana Health in the 3rd quarter valued at $492,000. Finally, SG Americas Securities LLC purchased a new position in Astrana Health in the third quarter valued at about $680,000. 52.77% of the stock is currently owned by hedge funds and other institutional investors.

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.