Diana McKenzie, a director at agilon health, inc. (NYSE:AGL), recently acquired shares of the company, according to a filing with the Securities and Exchange Commission. The transactions occurred in two separate purchases, coming at a time when the stock has fallen over 80% year-to-date according to InvestingPro data.
On November 25, McKenzie purchased 12,500 shares of agilon health common stock at a price of approximately $2.2779 per share. Subsequently, on December 9, she acquired an additional 7,500 shares at a weighted average price of $2.1985, with prices ranging from $2.1942 to $2.2050. The total value of these purchases amounted to $44,962. These purchase prices are notably close to the stock's current trading level of $2, with InvestingPro analysis indicating the stock is currently undervalued.
Following these transactions, McKenzie now holds 58,819 shares, including restricted stock units. These acquisitions reflect her continued investment in the company as it navigates the healthcare services sector. While the company maintains a strong balance sheet with more cash than debt, InvestingPro analysis reveals several additional key metrics and insights available to subscribers, including detailed financial health scores and comprehensive valuation analysis.
In other recent news, Agilon Health has been experiencing significant changes in its financial performance and market outlook. The company reported a 28% increase in revenue year-over-year, reaching $1.45 billion, but fell short of the projected $1.47 billion. Additionally, Agilon Health experienced an adjusted EBITDA loss of $96 million, significantly missing both the analyst's estimate and the consensus estimate.
Analysts from Bernstein SocGen Group and Jefferies have recently initiated coverage and adjusted the price target for Agilon Health respectively, with both firms awaiting improved performance. TD (TSX:TD) Cowen and JMP Securities also revised their outlook following the company's financial results, reducing the price target and downgrading the stock rating.
Agilon Health has implemented measures to address its financial challenges, including exiting certain partnerships and renegotiating payer contracts. The company also updated indemnification agreements and relocated its headquarters to Westerville, Ohio. Despite these changes, Agilon Health reported a 37% year-over-year growth in Medicare Advantage membership and raised its full-year membership guidance. These are the latest developments in Agilon Health's operations.
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