Short Interest in Astrana Health, Inc. (NASDAQ:ASTH) Drops By 17.9%

Astrana Health, Inc. (NASDAQ:ASTH) was the recipient of a significant decline in short interest in November. As of November 15th, there was short interest totalling 1,560,000 shares, a decline of 17.9% from the October 31st total of 1,900,000 shares. Based on an average daily trading volume, of 286,600 shares, the short-interest ratio is presently 5.4 days. Approximately 4.4% of the shares of the company are short sold.

Astrana Health Price Performance

ASTH traded up $0.50 during trading on Monday, hitting $43.75. The company’s stock had a trading volume of 47,410 shares, compared to its average volume of 210,508. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 33.27, a price-to-earnings-growth ratio of 2.00 and a beta of 1.24. The firm’s 50 day moving average price is $52.79 and its two-hundred day moving average price is $48.04. Astrana Health has a 12 month low of $32.32 and a 12 month high of $63.20.

Astrana Health (NASDAQ:ASTH) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.33. The business had revenue of $478.71 million during the quarter, compared to analysts’ expectations of $462.01 million. 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 posted $0.47 earnings per share. Sell-side analysts forecast that Astrana Health will post 1.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Astrana Health

A number of large investors have recently modified their holdings of ASTH. GAMMA Investing LLC bought a new position in Astrana Health in the 3rd quarter worth approximately $34,000. Nisa Investment Advisors LLC acquired a new stake in shares of Astrana Health in the 3rd quarter valued at $35,000. KBC Group NV bought a new stake in shares of Astrana Health during the third quarter worth $70,000. Quarry LP acquired a new position in shares of Astrana Health during the third quarter valued at $77,000. Finally, Quest Partners LLC bought a new position in Astrana Health in the third quarter valued at about $133,000. 52.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on ASTH shares. TD Cowen began coverage on shares of Astrana Health in a research note on Monday, October 14th. They issued a “buy” rating and a $66.00 target price on the stock. BTIG Research boosted their price target on Astrana Health from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. KeyCorp assumed coverage on Astrana Health in a research report on Friday, October 11th. They issued a “sector weight” rating on the stock. Robert W. Baird lifted their price objective on Astrana Health from $67.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Truist Financial boosted their target price on shares of Astrana Health from $50.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Astrana Health currently has an average rating of “Buy” and a consensus target price of $65.17.

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.