In recent activity involving agilon health, inc. (NYSE:AGL), John William Wulf, serving as a director, acquired a significant tranche of the company's common stock. The purchase comes as the stock has declined over 83% year-to-date, with InvestingPro analysis suggesting the shares may be undervalued at current levels. According to a recent SEC filing, Wulf purchased 45,000 shares on December 5, 2024, at a weighted average price of $2.181 per share. This transaction amounted to a total value of approximately $98,145. Following this acquisition, Wulf's direct ownership stands at 206,133 shares, which includes restricted stock units. The shares were acquired in multiple transactions with prices ranging from $2.165 to $2.19. While the company currently shows negative earnings per share of -$0.76, it maintains a strong balance sheet with more cash than debt. For comprehensive insider trading analysis and 8 additional key insights, visit InvestingPro.
In other recent news, Agilon Health, a leader in Medicare Advantage membership, has been in the spotlight following several significant developments. The company's third-quarter earnings reported a revenue of $1.45 billion, a 28% increase year-over-year, but fell short of the projected $1.47 billion. The adjusted EBITDA for the quarter was a loss of $96 million, significantly missing both the analyst's estimate and the consensus estimate.
Agilon Health has also experienced changes in stock ratings. Bernstein SocGen Group initiated coverage on the company with a Market Perform rating, while TD (TSX:TD) Cowen and JMP Securities adjusted their outlook. TD Cowen reduced the company's price target, and JMP Securities downgraded the stock rating. Jefferies also adjusted the price target for Agilon Health, reducing it to $2.05 from the previous target of $4.75, while maintaining a Hold rating on the stock.
In addition to financial performance, the company has relocated its headquarters to Westerville, Ohio, and updated indemnification agreements with its directors, executive officers, and certain other officers. Despite facing financial challenges, Agilon Health reported a 37% year-over-year growth in Medicare Advantage membership and raised its full-year membership guidance. However, the company revised its full-year 2024 adjusted EBITDA guidance downward, indicating potential financial challenges ahead. These recent developments reflect Agilon Health's ongoing efforts to navigate its financial performance and market conditions.
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