The Vanguard Group, Inc. recently announced the acquisition of new stake in Assertio Holdings Inc. (NASDAQ:ASRT). The institutional investor has increased its shareholding in the Healthcare company by 3.97% to 2.17 million shares with purchase of 82994.0 shares. This fresh investment now brings its stake to 3.91% valued currently at $11.98 million. In addition, Renaissance Technologies LLC raised its holdings by 1.19 million to 2.01 million shares. And Invesco Capital Management LLC has lifted its position by 462.72% or 1.08 million shares – to 1.31 million shares.
With over 1.61 million Assertio Holdings Inc. (ASRT) shares trading Monday and a closing price of $7.04 on the day, the dollar volume was approximately $11.31 million. The shares have shown a positive half year performance of 149.65% and its price on 05/22/23 lost nearly -3.56%. Currently, there are 51.01M common shares owned by the public and among those 47.43M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for ASRT have a consensus price objective of $9.75. The analysts have set the share’s price value over the next 12 months at a high of $10.00 and a low of $9.00. The average price target is 27.79% above its recent price level and an upside to the estimated low will see the stock gain 21.78% over that period. But an upside of 29.6% will see the stock hit the forecast high price target while median target price for the stock is $10.00.
Insiders at the company have transacted a total of 20 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 383,547 shares. Insider sales of the common stock occurred on 10 occasions, with total insider shares sold totaling 119,630 shares.
The top 3 mutual fund holders in Assertio Holdings Inc. are Vanguard Total Stock Market ETF, Invesco ETF Trust II – DWA Small, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market ETF owns 1.66 million shares of the company’s stock, all valued at over $9.14 million. Vanguard Extended Market Index Fu bought 35237.0 shares to bring its total holdings to over 0.67 million shares at a value of $3.71 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.21% of the shares outstanding.
Shares of Assertio Holdings Inc. (NASDAQ: ASRT) opened at $7.20, down -$0.1 from a prior closing price of $7.30. However, the script later moved the day high at 7.39, down -3.56%. The company’s stock has a 5-day price change of -3.83% and 35.91% over the past three months. ASRT shares are trading 63.72% year to date (YTD), with the 12-month market performance up to 124.92% higher. It has a 12-month low price of $2.07 and touched a high of $8.01 over the same period. ASRT has an average intraday trading volume of 2.49 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.48%, 14.07%, and 70.17% respectively.
Institutional ownership of Assertio Holdings Inc. (NASDAQ: ASRT) shares accounts for 36.10% of the company’s 51.01M shares outstanding. Mutual fund holders own 24.19%, while other institutional holders and individual stakeholders account for 3.55% and 15.25% respectively.
It has a market capitalization of $380.09M and a beta (3y monthly) value of 1.36. The stock’s trailing 12-month PE ratio is 4.74, while the earnings-per-share (ttm) stands at $1.49. The company has a PEG of 0.19 and a Quick Ratio of 1.30 with the debt-to-equity ratio at 0.15. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.70% over the week and 8.05% over the month.
Analysts forecast that Assertio Holdings Inc. (ASRT) will achieve an EPS of $0.14 for the current quarter, $0.14 for the next quarter and $0.61 for 2024. The lowest estimate earnings-per-share for the quarter is $0.12 while analysts give the company a high EPS estimate of $0.16. Comparatively, EPS for the current quarter was $0.16 a year ago. Earnings per share for the fiscal year are expected to decrease by -81.80%, and 67.03% over the next financial year. EPS should grow at an annualized rate of 25.00% over the next five years, compared to 19.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Assertio Holdings Inc. (ASRT) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
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