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

Astrana Health, Inc. (NASDAQ:ASTH)’s share price reached a new 52-week high during 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 changing hands. The stock had previously closed at $57.87.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Astrana Health stock. Central Pacific Bank Trust Division acquired a new position in Astrana Health, Inc. (NASDAQ:ASTH) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,753 shares of the company’s stock, valued at approximately $160,000. 52.77% of the stock is currently owned by institutional investors.

Astrana Health Price Performance

The firm has a 50-day moving average of $50.83 and a 200-day moving average of $44.29. The stock has a market cap of $3.36 billion, a PE ratio of 44.30, a PEG ratio of 2.15 and a beta of 1.20. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.84 and a quick ratio of 1.84.

Astrana Health (NASDAQ:ASTH) last posted its earnings results on Wednesday, August 7th. The company reported $0.40 earnings per share 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%. Astrana Health’s quarterly revenue was up 39.7% on a year-over-year basis. During the same period last year, the company posted $0.28 earnings per share. Research analysts predict that Astrana Health, Inc. will post 1.33 EPS for the current year.

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.