Astrana Health (NASDAQ:ASTH) Sets New 12-Month High Following Analyst Upgrade

Astrana Health, Inc. (NASDAQ:ASTH) hit a new 52-week high during mid-day trading on Thursday after BTIG Research raised their price target on the stock from $60.00 to $70.00. BTIG Research currently has a buy rating on the stock. Astrana Health traded as high as $59.36 and last traded at $59.34, with a volume of 35041 shares. The stock had previously closed at $57.87.

Several other brokerages also recently commented on ASTH. Truist Financial raised their target price on Astrana Health from $50.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Robert W. Baird increased their price target on Astrana Health from $54.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Finally, Stifel Nicolaus boosted their price objective on Astrana Health from $48.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Astrana Health currently has an average rating of “Buy” and an average price target of $61.20.

Institutional Trading of Astrana Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Granite Bay Wealth Management LLC bought a new position in shares of Astrana Health in the third quarter valued at approximately $290,000. SG Americas Securities LLC purchased a new stake in Astrana Health in the 3rd quarter valued at $680,000. Finally, Central Pacific Bank Trust Division purchased a new stake in Astrana Health in the 3rd quarter valued at $160,000. 52.77% of the stock is owned by institutional investors.

Astrana Health Trading Up 0.7 %

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market capitalization of $3.36 billion, a P/E ratio of 45.37, a PEG ratio of 2.15 and a beta of 1.20. The firm has a 50 day simple moving average of $51.12 and a two-hundred day simple moving average of $44.54.

Astrana Health (NASDAQ:ASTH) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.40 earnings per share for the quarter, beating 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 company had revenue of $486.30 million for the quarter, compared to analyst estimates of $440.68 million. During the same period last year, the firm earned $0.28 earnings per share. The firm’s revenue was up 39.7% on a year-over-year basis. Equities research analysts forecast that Astrana Health, Inc. will post 1.33 earnings per share for the current year.

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.