Short Interest in Astrana Health, Inc. (NASDAQ:ASTH) Drops By 12.8%

Astrana Health, Inc. (NASDAQ:ASTH) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 1,900,000 shares, a decline of 12.8% from the October 15th total of 2,180,000 shares. Currently, 5.2% of the company’s shares are sold short. Based on an average daily trading volume, of 269,800 shares, the days-to-cover ratio is currently 7.0 days.

Institutional Investors Weigh In On Astrana Health

Institutional investors and hedge funds have recently modified their holdings of the stock. Central Pacific Bank Trust Division acquired a new position in Astrana Health during the 3rd quarter worth approximately $160,000. SG Americas Securities LLC purchased a new stake in shares of Astrana Health during the third quarter valued at approximately $680,000. Granite Bay Wealth Management LLC purchased a new stake in shares of Astrana Health during the third quarter valued at approximately $290,000. Handelsbanken Fonder AB acquired a new position in shares of Astrana Health during the third quarter worth $492,000. Finally, GAMMA Investing LLC purchased a new position in shares of Astrana Health in the third quarter valued at $34,000. Hedge funds and other institutional investors own 52.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Robert W. Baird upped their price objective on shares of Astrana Health from $67.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. BTIG Research upped their price target on shares of Astrana Health from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. KeyCorp initiated coverage on shares of Astrana Health in a report on Friday, October 11th. They issued a “sector weight” rating on the stock. Stifel Nicolaus upped their price objective on Astrana Health from $48.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Truist Financial increased their target price on Astrana Health from $50.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Astrana Health presently has a consensus rating of “Buy” and an average target price of $65.17.

Astrana Health Price Performance

ASTH opened at $40.81 on Monday. Astrana Health has a 52-week low of $32.04 and a 52-week high of $63.20. The company has a 50 day moving average of $55.04 and a two-hundred day moving average of $47.81. The company has a market cap of $2.30 billion, a P/E ratio of 31.39, a P/E/G ratio of 1.89 and a beta of 1.24. The company has a quick ratio of 1.84, a current ratio of 1.91 and a debt-to-equity ratio of 0.60.

Astrana Health (NASDAQ:ASTH) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.33 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.33. Astrana Health had a net margin of 3.63% and a return on equity of 9.37%. The firm had revenue of $478.71 million during the quarter, compared to analysts’ expectations of $462.01 million. During the same period in the prior year, the company earned $0.47 EPS. On average, analysts expect that Astrana Health will post 1.17 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.