agilon health inc. (NYSE: AGL) stock fell -0.96% on Monday to $18.57 against a previous-day closing price of $18.75. With 2.74 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.49 million shares. The 52-week range on AGL shows that it touched its highest point at $29.44 and its lowest point at $15.00 during that stretch. It currently has a 1-year price target of $28.71. Beta for the stock currently stands at 0.98.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AGL was up-trending over the past week, with a rise of 0.22%, but this was up by 4.44% over a month. Three-month performance surged to 6.97% while six-month performance fell -30.45%. The stock lost -25.57% in the past year, while it has gained 15.06% so far this year. A look at the trailing 12-month EPS for AGL yields -0.21 with Next year EPS estimates of 0.08. For the next quarter, that number is -0.06. This implies an EPS growth rate of 75.90% for this year and 150.00% for next year.
Float and Shares Shorts:
At present, 410.34 million AGL shares are outstanding with a float of 300.89 million shares on hand for trading. On Aug 30, 2023, short shares totaled 40.19 million, which was 9.91% higher than short shares on Jul 30, 2023. In addition to Mr. Steven Jackson Sell as the firm’s Pres, CEO & Director, Mr. Timothy S. Bensley serves as its Chief Financial Officer.
Through their ownership of 108.48% of AGL’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 64.61% of AGL, in contrast to 49.32% held by mutual funds. Shares owned by individuals account for 21.08%. As the largest shareholder in AGL with 13.69% of the stake, Fidelity Management & Research Co holds 55,524,975 shares worth 55,524,975. A second-largest stockholder of AGL, Capital Research & Management Co, holds 51,347,600 shares, controlling over 12.66% of the firm’s shares. Morgan Stanley Investment Managem is the third largest shareholder in AGL, holding 42,300,681 shares or 10.43% stake. With a 4.88% stake in AGL, the American Funds New Economy Fund is the largest stakeholder. A total of 19,773,485 shares are owned by the mutual fund manager. The Vanguard Health Care Fund, which owns about 3.52% of AGL stock, is the second-largest Mutual Fund holder. It holds 14,265,479 shares valued at 252.78 million. American Funds AMCAP Fund holds 3.29% of the stake in AGL, owning 13,350,178 shares worth 236.57 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, AGL reported revenue of $670.13M and operating income of -$21.05M. The EBITDA in the recently reported quarter was -$11.01M and diluted EPS was -$0.05.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AGL since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With AGL analysts setting a high price target of $36.00 and a low target of $21.00, the average target price over the next 12 months is $27.92. Based on these targets, AGL could surge 93.86% to reach the target high and rise by 13.09% to reach the target low. Reaching the average price target will result in a growth of 50.35% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded AGL stock several times over the past three months with 6 Buys and 4 Sells. In these transactions, 89,566 shares were bought while 75,000 shares were sold. The number of buy transactions has increased to 82 while that of sell transactions has risen to 76 over the past year. The total number of shares bought during that period was 1,364,767 while 95,735,229 shares were sold.