Healthcare services company Astrana Health will be reporting earnings this Thursday after market close. Here’s what you need to know.
Astrana Health beat analysts’ revenue expectations by 2.7% last quarter, reporting revenues of $654.8 million, up 34.7% year on year. It was a strong quarter for the company, with revenue guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates.
Is Astrana Health a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Astrana Health’s revenue to grow 98.5% year on year to $950.2 million, improving from the 37.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.61 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 segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Omnicell delivered year-on-year revenue growth of 10%, beating analysts’ expectations by 5%, and Premier reported a revenue decline of 3.3%, falling short of estimates by 1%. Omnicell traded up 13.6% following the results.
Read our full analysis of Omnicell’s results here and Premier’s results here.
Investors in the healthcare technology segment have had steady hands going into earnings, with share prices flat over the last month. Astrana Health is up 16% during the same time and is heading into earnings with an average analyst price target of $45 (compared to the current share price of $33.50).
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