Astrana Health initiated with a Sector Weight at KeyBanc

KeyBanc initiated coverage of Astrana Health with a Sector Weight rating as part of a broader research note launching coverage of Healthcare Services. The U.S. healthcare system requires significant efficiency gains and Healthcare Services will be at the epicenter of innovation, disruption, and opportunity, with near term proprietary hospital card data indicating that utilization remains strong in Q3 which represents a positive read for Hospitals and Post-Acute care, the analyst tells investors in a research note. For the company, the firm notes that while investor sentiment for value-based-care stocks is decidedly negative, Astrana has generally bucked the trend and has lower exposure to areas of risk, though it also sees the stock’s current valuation as balanced.