Astrana Health Inc. (ASTH)

Over the past six months, Astrana Health's stock price has been impacted by several events. The stock surged following a strong Q4 2025 earnings report and robust 2026 guidance, including a doubling of its share repurchase program to $100 million. A favorable adjustment by CMS in April 2026 also positively impacted the stock. However, the stock experienced a decline in March 2026 due to the disclosure of a delayed 10-K filing, citing a material weakness in internal financial controls. The stock price as of April 2, 2026, was $25.05 per share, representing a decline of 16.69% over the preceding year.

Astrana Health's actuarial methods for capitated arrangements and risk pool settlements explicitly consider seasonality in the utilization of healthcare services. This indicates that there are seasonal fluctuations in the demand for the healthcare services that Astrana Health manages, and the company incorporates these trends into its financial and operational planning.

Astrana Health, Inc. is a physician-centric, technology-powered, and risk-bearing healthcare management company operating an integrated healthcare delivery platform. The company's core business revolves around its integrated platform and service offerings across three primary segments: Care Partners, Care Delivery, and Care Enablement. The Care Partners segment focuses on affiliated and employed provider networks that take on risk across various health plan lines of business to deliver integrated care. Care Delivery involves a flexible footprint of owned primary care and multi-specialty clinics with employed providers. The Care Enablement segment provides a full-stack technology and solutions platform to empower providers.

Headquartered in Alhambra, California, Astrana Health has a significant and expanding geographic footprint across the United States. As of 2024, the company's reach extended across ten counties in California, managing over 1 million members and a network of more than 7,000 physicians. Astrana Health has also expanded into Arizona, Hawaii, Texas, and Rhode Island, and has a Care Enablement partnership in Georgia.

Astrana Health has cultivated a strong brand reputation, particularly through its physician-centric model, which emphasizes high-quality medical services and patient satisfaction. Its Foothill Regional Medical Center received the 2026 Healthgrades Patient Safety Excellence Award for the fourth consecutive year. However, the company's reputation faced scrutiny in March 2026 with the disclosure of a material weakness in internal financial controls in its delayed 10-K filing.

Astrana Health, Inc. has a diverse ownership structure, with significant institutional and insider holdings. As of April 10, 2026, the company had 180 institutional owners and shareholders holding a total of 29,108,646 shares. Major institutional shareholders include BlackRock, Inc., Vanguard Group Inc., 325 Capital Llc, State Street Corp, Dimensional Fund Advisors Lp, Fmr Llc, Geode Capital Management, Llc, Wellington Management Group Llp, Steel Peak Wealth Management LLC, and Charles Schwab Investment Management Inc. Key individual insider shareholders with substantial holdings include co-founders Dr. Kenneth T. Sim and Dr. Thomas S. Lam, as well as Dr. Albert Waichow Young, Brandon Sim (President & CEO), Bradley S. Shepherd, and Gary Augusta. Allied Physicians Of California A Profession Medical Corp is also listed as a significant insider owner.