Astrana Health, Inc. (NASDAQ:ASTH) Sees Significant Decline in Short Interest

Astrana Health, Inc. (NASDAQ:ASTH) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 2,580,000 shares, a drop of 7.9% from the August 15th total of 2,800,000 shares. Based on an average daily volume of 223,700 shares, the days-to-cover ratio is currently 11.5 days. Approximately 7.1% of the company’s shares are short sold.

Astrana Health Price Performance

Shares of ASTH opened at $55.11 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.62. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 41.75, a PEG ratio of 1.85 and a beta of 1.20. Astrana Health has a 52 week low of $28.86 and a 52 week high of $56.25. The stock has a 50 day moving average of $48.54 and a 200-day moving average of $43.10.

Astrana Health (NASDAQ:ASTH) last issued its earnings results on Wednesday, August 7th. The company reported $0.40 earnings per share for the quarter, topping 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 analysts’ expectations of $440.68 million. During the same period in the prior year, the company earned $0.28 earnings per share. The firm’s revenue was up 39.7% compared to the same quarter last year. As a group, analysts forecast that Astrana Health will post 1.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ASTH. Truist Financial raised their target price on shares of Astrana Health from $50.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Stifel Nicolaus lifted their price target on shares of Astrana Health from $48.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Baird R W raised shares of Astrana Health to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Robert W. Baird raised their target price on shares of Astrana Health from $54.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Astrana Health currently has an average rating of “Buy” and a consensus price target of $59.00.

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.