Professional
Added to YB: 2026-09-21
Pitch date: 2026-09-17
ASTH [bearish]
Astrana Health, Inc.
-1.45%
current return
Author Info
Glasshouse Research is a team of forensic accountants/analysts on the look out for fraudulent companies. Visit the website.
Company Info
Astrana Health, Inc., a healthcare management company, provides medical care services in the United States.
Market Cap
$1.8B
Pitch Price
$33.87
Price Target
N/A
Dividend
N/A
EV/EBITDA
10.68
P/E
41.91
EV/Sales
0.55
Sector
Health Care Providers and Services
Category
special_situation
ASTRANA HEALTH: POOR PROSPECTS
ASTH (short): Astrana’s growth is largely debt-funded M&A, while profit depends on management estimates investors cannot reconstruct. The $674.9M Prospect acquisition brought a deteriorating claims book; Q2 2026’s $38.3M gross favorable claims development exceeded quarterly pre-tax income, with no reconciliation of management’s claimed offsets. Pro forma 2025 revenue fell 3.5% and attributable net income was $1.2M. Clean reserve development, control remediation and continued deleveraging would challenge the short.
Read full article (48 min)