Astrana Health (NASDAQ:ASTH) Stock Price Down 5.5% – Should You Sell?

Astrana Health, Inc. (NASDAQ:ASTH)’s share price traded down 5.5% during mid-day trading on Thursday . The stock traded as low as $36.66 and last traded at $35.6280. Approximately 22,706 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 522,498 shares. The stock had previously closed at $37.70.

Wall Street Analysts Forecast Growth

ASTH has been the topic of several recent analyst reports. BTIG Research lifted their price objective on Astrana Health from $50.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Oppenheimer started coverage on shares of Astrana Health in a report on Tuesday. They set an “outperform” rating and a $53.00 target price on the stock. Barclays lifted their price target on shares of Astrana Health from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Truist Financial upped 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. Finally, TD Cowen raised their price objective on shares of Astrana Health from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Astrana Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.88.

Astrana Health Stock Down 2.1%

The stock’s fifty day moving average price is $39.48 and its 200-day moving average price is $35.80. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 45.01 and a beta of 0.90.

Astrana Health (NASDAQ:ASTH) last issued its earnings results on Thursday, August 6th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.46. The business had revenue of $972.52 million for the quarter, compared to the consensus estimate of $985.62 million. Astrana Health had a net margin of 1.05% and a return on equity of 10.30%. The firm’s revenue for the quarter was up 48.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 earnings per share. On average, sell-side analysts predict that Astrana Health, Inc. will post 1.32 earnings per share for the current fiscal year.

Institutional Trading of Astrana Health

Hedge funds have recently made changes to their positions in the business. Corient Private Wealth LP grew its position in Astrana Health by 1.6% during the 2nd quarter. Corient Private Wealth LP now owns 24,905 shares of the company’s stock worth $1,156,000 after acquiring an additional 399 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Astrana Health during the second quarter valued at about $51,000. Cetera Investment Advisers grew its holdings in shares of Astrana Health by 15.4% during the first quarter. Cetera Investment Advisers now owns 21,430 shares of the company’s stock worth $525,000 after purchasing an additional 2,863 shares during the last quarter. State of Wyoming increased its stake in shares of Astrana Health by 61.9% in the fourth quarter. State of Wyoming now owns 10,473 shares of the company’s stock valued at $260,000 after buying an additional 4,004 shares during the period. Finally, First Citizens Bank & Trust Co. raised its holdings in Astrana Health by 48.3% in the 1st quarter. First Citizens Bank & Trust Co. now owns 16,614 shares of the company’s stock valued at $407,000 after buying an additional 5,408 shares during the last quarter. 52.77% of the stock is owned by institutional investors and hedge funds.

Astrana Health Company Profile

Astrana Health, Inc is a healthcare management and technology company that helps physicians and healthcare organizations deliver value-based care. The company supports provider groups, independent physicians and health systems with clinical, operational and administrative services designed to coordinate care, improve outcomes and manage healthcare costs.

Astrana Health’s platform includes care-management programs, analytics and population-health tools, technology solutions, physician practice support, and services for risk-bearing provider organizations.