Astrana Health (NASDAQ:ASTH) Updates FY24 Earnings Guidance

Astrana Health (NASDAQ:ASTH) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.12-1.36 for the period, compared to the consensus earnings per share estimate of $1.48. The company issued revenue guidance of $1.75-1.85 billion, compared to the consensus revenue estimate of $1.76 billion.

Analyst Ratings Changes

ASTH has been the subject of a number of recent analyst reports. Robert W. Baird assumed coverage on Astrana Health in a research report on Thursday, May 30th. They set an outperform rating and a $54.00 price objective for the company. Truist Financial raised shares of Astrana Health from a hold rating to a buy rating and boosted their price target for the company from $44.00 to $50.00 in a research note on Thursday, July 11th. Stifel Nicolaus upped their price objective on shares of Astrana Health from $48.00 to $60.00 and gave the stock a buy rating in a report on Thursday, August 1st. Finally, Baird R W upgraded shares of Astrana Health to a strong-buy rating in a report on Thursday, May 30th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Astrana Health presently has an average rating of Buy and an average price target of $53.50.

Astrana Health Stock Down 2.6 %

NASDAQ:ASTH traded down $1.22 on Wednesday, reaching $46.36. 231,696 shares of the company’s stock were exchanged, compared to its average volume of 173,302. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 36.03, a price-to-earnings-growth ratio of 1.83 and a beta of 1.16. Astrana Health has a 52-week low of $28.86 and a 52-week high of $54.27. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.56. The business has a fifty day simple moving average of $43.96.

Astrana Health (NASDAQ:ASTH) last announced its earnings results on Tuesday, May 7th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). The business had revenue of $404.36 million for the quarter, compared to analysts’ expectations of $413.84 million. Astrana Health had a return on equity of 10.22% and a net margin of 4.29%. Astrana Health’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 earnings per share. As a group, equities analysts anticipate that Astrana Health will post 1.42 earnings per share 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.