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

Astrana Health (NASDAQ:ASTH) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.060-1.190 for the period, compared to the consensus earnings per share 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 0.7 %

NASDAQ ASTH traded down $0.41 during trading on Thursday, reaching $59.08. 279,007 shares of the company’s stock traded hands, compared to its average volume of 197,387. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 41.03, a price-to-earnings-growth ratio of 2.08 and a beta of 1.24. The company’s 50 day simple moving average is $55.30 and its two-hundred day simple moving average is $47.32. Astrana Health has a 12-month low of $29.63 and a 12-month high of $63.20.

Astrana Health (NASDAQ:ASTH) last posted its earnings results on Wednesday, August 7th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. The business had revenue of $486.30 million for the quarter, compared to the consensus estimate of $440.68 million. Astrana Health had a net margin of 4.30% and a return on equity of 10.71%. The company’s revenue for the quarter was up 39.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 EPS. As a group, sell-side analysts forecast that Astrana Health will post 1.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ASTH. BTIG Research raised their price target on shares of Astrana Health from $60.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Robert W. Baird raised their price target on shares of Astrana Health from $54.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Truist Financial raised their price target on shares of Astrana Health from $50.00 to $59.00 and gave the company a “buy” rating in a report on Friday, August 9th. KeyCorp began coverage on shares of Astrana Health in a report on Friday, October 11th. They issued a “sector weight” rating on the stock. Finally, TD Cowen initiated coverage on shares of Astrana Health in a report on Monday, October 14th. They issued a “buy” rating and a $66.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Astrana Health presently has an average rating of “Buy” and a consensus 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.