Jefferies cautious on Value Based Care providers; favors ASTH, PRVA, TOI [Seeking Alpha]
Astrana Health Inc. (ASTH)
Company Research
Source: Seeking Alpha
Due to near-term headwinds in the space, Jefferies advised taking a “selective” approach to the subsector over the next 12 months. The investment bank chose Astrana Health ( NASDAQ: ASTH ), Privia ( NASDAQ: PRVA ) and The Oncology Institute ( NASDAQ: TOI ) as its top picks while downgrading agilon ( NYSE: AGL ) and CareMax ( NASDAQ: CMAX ) to hold. Despite near-term caution, “we remain bullish on the long-term opportunity in the space and will be closely watching for signals that Medicare Advantage-exposed names are turning a corner fundamentally in order to get more constructive,” Jefferies analysts wrote in a recent note. The analysts added that they believe the “dire state of the US healthcare system” will necessitate the transition to value-based care. “We continue to view the Value Based Care transition as a logical response to the issue at hand and a long-term trend that will define the evolution of the broader healthcare system over the coming decades,” they said. Jeff
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- Astrana Health, Inc. (NASDAQ: ASTH) had its price target lowered by analysts at Stifel Nicolaus from $50.00 to $45.00. They now have a "buy" rating on the stock.MarketBeat
- Astrana Health, Inc. Reports First Quarter 2024 ResultsPR Newswire
- Astrana Health, Inc. Schedules 2024 First Quarter Financial Results Release and Conference CallPR Newswire
- Astrana Health, Inc. Completes Acquisition of Community Family Care Medical Group IPA, Inc. and Health PlanPR Newswire
- Astrana Health, Inc. Announces Grant of Inducement Awards Pursuant to Nasdaq Listing Rule 5635(c)(4)PR Newswire