Healthcare services company Astrana Health will be reporting results tomorrow afternoon. Here’s what investors should know.
Astrana Health beat analysts’ revenue expectations by 2.2% last quarter, reporting revenues of $478.7 million, up 37.5% year on year. It was a mixed quarter for the company, with full-year revenue guidance exceeding analysts’ expectations but a significant miss of analysts’ full-year EPS guidance estimates.
Is Astrana Health a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Astrana Health’s revenue to grow 76.2% year on year to $622.1 million, improving from the 20% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.24 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Astrana Health has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Astrana Health’s peers in the healthcare technology for providers segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Premier’s revenues decreased 14.2% year on year, meeting analysts’ expectations, and Omnicell reported revenues up 18.6%, topping estimates by 2.2%. Premier traded down 14.3% following the results while Omnicell was also down 9.5%.
Read our full analysis of Premier’s results here and Omnicell’s results here.
Stocks, especially growth stocks where cash flows further in the future are more important to the story, have had a good 2024. An economic soft landing (so far), the start of the Fed's rate cutting campaign, and the election of Donald Trump were positives for the market, and while some of the healthcare technology for providers stocks have shown solid performance, the group has generally underperformed, with share prices down 4.4% on average over the last month. Astrana Health is down 3.8% during the same time and is heading into earnings with an average analyst price target of $60.70 (compared to the current share price of $36.50).
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