Astrana Health rises after scheduling third-quarter results and conference call

What happened

Astrana Health (ASTH) rose 4.7% to $37.55 on October 9, 2026, after the company announced on Oct. 9, 2026, that it will report results for the third quarter ended September 30, 2026, and host a conference call to discuss them. The share move came as investors repositioned ahead of the upcoming report; trading volume was 0.7 times its 20-day average on the day, while the S&P 500 rose 0.6%.

How big was the move

The stock’s 4.7% gain was 1.4 times a typical daily move for this stock and was 3.3 percentage points better than the Healthcare sector median, which rose 1.4% on the day. Compared with the broader market, the gain was far larger than the S&P 500’s 0.6% rise, consistent with a large, mostly company-specific move. The stock’s beta of 1.09 suggests it tends to move about as much as the market, so the outsized intraday performance points to the company’s scheduling announcement as the likely driver.

The technical picture

The stock traded 4.4% above its 20-day moving average and 1.5% above its 50-day moving average, while remaining 13.7% above its 200-day moving average. The 50-day average is above the 200-day average, a sign of an established uptrend, and the stock has been above the 200-day average for 131 consecutive trading days. The Relative Strength Index (14 days) stood at 54, in a neutral range between 30 and 70, and the shares were 27.2% below the 52-week high. Over one month the stock fell 1.3% and over three months it fell 21.2%, while over one year it rose 22.2%, 6.5 percentage points ahead of the S&P 500. Sixty-day volatility annualized at 53% remains lower than 54% of its own readings over five years.

Taken together, the technicals show a stock in a longer-term uptrend but with pullbacks in recent months. The one-year gain and lengthy stretch above the 200-day average point to underlying momentum, even as the three-month decline shows recent weakness.

Fundamentals and valuation

For the four quarters through June 30, 2026, Astrana Health reported revenue of $3.84 billion, which grew 58.9% from a year earlier, and diluted earnings per share of $0.82, which rose 57.2% from a year earlier. Gross margin was 9.2% versus 11.8% a year earlier, and operating margin was 2.6% versus 2.9% a year earlier. Free-cash-flow margin was 4.1% and return on invested capital was 4.1%. The balance sheet shows net debt of 3.3 times EBITDA and the company’s share count over one year increased by 0.6%.

Valuation metrics included a Price to trailing earnings of 45.9 times trailing earnings and a Price to forward earnings of 26.9 times expected earnings. The current trailing multiple is higher than 83% of its own readings over the past five years, with a five-year median of 32.8 times earnings, and the free-cash-flow yield was 8.9%. Those figures indicate investors are assigning a premium to the company’s growth profile despite a compression in gross margin year over year.

Earnings and analyst expectations

Astrana Health’s next report is scheduled for November 5, 2026. The last report, on August 6, 2026, delivered earnings per share of $0.40 against $0.34 expected, 19.1% above estimates, and marked two consecutive quarters of beating estimates. The company’s average surprise over the last four reports was 23.8% below estimates, and the typical two-day reaction after recent reports was the stock rose 3.5%.

Eleven analysts cover the stock, with a consensus rating of Buy and 100% of ratings at Buy or higher. The consensus price target was $52.00, 38.5% above the closing price on October 9, 2026. That analyst backdrop, combined with recent beats, may help explain why investors reacted positively to the scheduling announcement as they positioned ahead of the November report.

What to watch

• Nov. 5, 2026: Next earnings report for the third quarter ended September 30, 2026.
• Change in revenue or margins in the upcoming report versus the four quarters through June 30, 2026, revenue of $3.84 billion and gross margin of 9.2%.
• Any updates to the company’s balance sheet metrics, net debt of 3.3 times EBITDA.
• Analyst revisions following the November 5, 2026, report; current consensus price target is $52.00.