Agilon Health (NYSE:AGL) Shares Up 3.3% – Here’s What Happened

Agilon Health, Inc. (NYSE:AGL)’s stock price was up 3.3% during mid-day trading on Wednesday. The stock traded as high as $85.81 and last traded at $86.1120. 16,983 shares were traded during mid-day trading, a decline of 95% from the average session volume of 331,238 shares. The stock had previously closed at $83.40.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AGL shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Agilon Health in a research note on Monday, August 24th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $146.00 price target (up from $141.00) on shares of Agilon Health in a research note on Tuesday, August 11th. JPMorgan Chase & Co. increased their price target on shares of Agilon Health from $31.00 to $85.00 and gave the company an “underweight” rating in a research report on Monday, August 24th. Robert W. Baird set a $116.00 price objective on shares of Agilon Health in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada set a $125.00 price objective on shares of Agilon Health in a report on Tuesday, September 15th. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Agilon Health has a consensus rating of “Hold” and a consensus price target of $102.25.

Agilon Health Trading Up 3.2%

The business has a 50 day simple moving average of $89.89 and a 200-day simple moving average of $77.85. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -6.07 and a beta of 2.98. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.08 and a quick ratio of 1.08.

Agilon Health (NYSE:AGL) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.90. Agilon Health had a negative return on equity of 119.38% and a negative net margin of 3.92%.The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.45 billion. As a group, equities analysts expect that Agilon Health, Inc. will post -2.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP acquired a new stake in shares of Agilon Health during the 2nd quarter worth about $114,000. Proficio Capital Partners LLC acquired a new stake in Agilon Health during the second quarter worth approximately $210,000. Bank of New York Mellon Corp boosted its holdings in shares of Agilon Health by 9.5% during the second quarter. Bank of New York Mellon Corp now owns 35,336 shares of the company’s stock worth $3,787,000 after acquiring an additional 3,074 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Agilon Health during the second quarter worth approximately $355,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Agilon Health in the second quarter valued at approximately $384,000.

About Agilon Health

Agilon Health, Inc is a healthcare company that helps primary care physicians transition from traditional fee-for-service medicine to value-based care. The company primarily works with independent physician practices that serve older adults, particularly Medicare Advantage members, with the goal of improving care coordination, patient outcomes and the overall healthcare experience.

Agilon provides a technology and services platform designed to support population health management. Its offerings include data analytics, clinical and administrative workflows, practice management support, care coordination resources and assistance with payer contracting.