Astrana Health (NASDAQ:ASTH) Releases FY 2024 Earnings Guidance

Astrana Health (NASDAQ:ASTH) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.060-1.190 for the period, compared to the consensus estimate of 1.310. The company issued revenue guidance of $2.0 billion-$2.0 billion, compared to the consensus revenue estimate of $1.8 billion. Astrana Health also updated its FY24 guidance to $1.06-1.19 EPS.

Astrana Health Stock Down 20.5 %

Astrana Health stock traded down $12.12 during trading hours on Friday, hitting $46.96. 796,465 shares of the stock traded hands, compared to its average volume of 223,937. Astrana Health has a one year low of $29.63 and a one year high of $63.20. The firm’s 50-day moving average price is $55.51 and its two-hundred day moving average price is $47.61. 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 company has a market cap of $2.30 billion, a PE ratio of 32.61, a PEG ratio of 2.27 and a beta of 1.24.

Astrana Health (NASDAQ:ASTH) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. The company had revenue of $486.30 million for the quarter, compared to analysts’ expectations of $440.68 million. Astrana Health had a return on equity of 10.71% and a net margin of 4.30%. The firm’s revenue for the quarter was up 39.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 earnings per share. On average, research analysts forecast that Astrana Health will post 1.31 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Astrana Health from $48.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Truist Financial raised 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. TD Cowen started coverage on Astrana Health in a research report on Monday, October 14th. They issued a “buy” rating and a $66.00 price target on the stock. Robert W. Baird raised their price objective on Astrana Health from $54.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Finally, BTIG Research lifted their price objective on Astrana Health from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $62.00.

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.