Astrana Health (NASDAQ:ASTH) Shares Down 9.2% on Disappointing Earnings

Shares of Astrana Health, Inc. (NASDAQ:ASTH) were down 9.2% on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $30.35 and last traded at $30.37. Approximately 11,890 shares were traded during trading, a decline of 96% from the average daily volume of 328,649 shares. The stock had previously closed at $33.44.

The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.14). Astrana Health had a return on equity of 9.37% and a net margin of 3.63%. During the same period in the previous year, the business earned $0.31 earnings per share. The company’s revenue for the quarter was up 53.4% on a year-over-year basis.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Truist Financial dropped their target price on shares of Astrana Health from $50.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Barclays initiated coverage on shares of Astrana Health in a research note on Tuesday, April 1st. They issued an “equal weight” rating and a $36.00 target price on the stock. Bank of America reduced their target price on shares of Astrana Health from $55.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Stifel Nicolaus lowered their price target on Astrana Health from $70.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Finally, Robert W. Baird reduced their price objective on Astrana Health from $86.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $53.29.

Institutional Trading of Astrana Health

Large investors have recently modified their holdings of the business. Principal Financial Group Inc. acquired a new stake in Astrana Health during the 3rd quarter valued at approximately $13,383,000. Franklin Resources Inc. acquired a new stake in shares of Astrana Health during the third quarter worth approximately $1,187,000. Barclays PLC bought a new stake in shares of Astrana Health in the third quarter worth $4,457,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Astrana Health by 348.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,788 shares of the company’s stock valued at $1,191,000 after acquiring an additional 29,355 shares in the last quarter. Finally, Truist Financial Corp bought a new position in Astrana Health during the 4th quarter valued at $315,000. 52.77% of the stock is currently owned by institutional investors and hedge funds.

Astrana Health Stock Performance

The company’s fifty day simple moving average is $30.90 and its two-hundred day simple moving average is $36.40. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 1.37 and a beta of 1.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.91 and a current ratio of 1.91.

About Astrana Health

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.