Agilon Health, Inc. (NYSE:AGL), a company specializing in miscellaneous health and allied services with a market capitalization of $919 million, has entered into new indemnification agreements with its directors, executive officers, and certain other officers, according to a recent 8-K filing with the Securities and Exchange Commission (SEC).
InvestingPro analysis indicates the company maintains a "GOOD" financial health score despite challenging market conditions, with its stock down over 80% year-to-date.
In addition to the indemnification updates, Agilon Health announced a change in its principal executive offices. As of Thursday, December 5, 2024, the company's headquarters moved from Austin, Texas, to a new location at 440 Polaris (NYSE:PII) Parkway, Suite 550, Westerville, Ohio, 43082. The company's contact number remains unchanged.
According to InvestingPro data, while the company holds more cash than debt on its balance sheet, it's currently experiencing rapid cash burn, with 8 analysts recently revising their earnings expectations downward. For deeper insights into Agilon Health's financial position and future prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Agilon Health reported mixed results in its third-quarter financial report. The healthcare company announced a revenue of $1.45 billion, reflecting a 28% increase year-over-year, but fell short of the projected $1.47 billion.
This report also revealed an adjusted EBITDA loss of $96 million, significantly missing both the analyst's estimate of a $19.1 million loss and the consensus estimate of a $20.1 million loss.
TD (TSX:TD) Cowen and JMP Securities both adjusted their outlook on Agilon Health following these results, with TD Cowen reducing the company's price target from $6.00 to $2.00 and JMP Securities downgrading the stock rating from Market Outperform to Market Perform.
Agilon Health also revised its full-year 2024 adjusted EBITDA guidance downward, from a previous estimate of a $38 million loss to a projected $145 million loss.
Despite these challenges, the company reported a 37% year-over-year growth in Medicare Advantage membership, reaching 525,000 members, and raised its full-year membership guidance to 527,000 members.
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