The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how healthcare technology for providers stocks fared in Q4, starting with Astrana Health (NASDAQ:ASTH).
The healthcare technology sector provides software and data analytics to help hospitals and clinics streamline operations and improve patient outcomes, often through value-based care models. Future growth is expected as providers prioritize digital transformation to manage rising costs and patient demands. Tailwinds include the adoption of AI-driven tools and government incentives for digitization. There challenges as well, including long sales cycles and slow adoption by providers, who may be resistance to change. Tightening hospital budgets and cybersecurity threats are additional risks that could slow adoption.
The 4 healthcare technology for providers stocks we track reported a strong Q4. As a group, revenues beat analysts’ consensus estimates by 1.8% while next quarter’s revenue guidance was in line.
While some healthcare technology for providers stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 4.1% since the latest earnings results.
Formerly known as Apollo Medical Holdings until early 2024, Astrana Health (NASDAQ:ASTH) operates a technology-powered healthcare platform that enables physicians to deliver coordinated care while successfully participating in value-based payment models.
Astrana Health reported revenues of $950.5 million, up 42.9% year on year. This print exceeded analysts’ expectations by 2.3%. Overall, it was a strong quarter for the company with a beat of analysts’ EPS estimates and a solid beat of analysts’ revenue estimates.
“Astrana delivered record revenue, adjusted EBITDA, and free cash flow in 2025, demonstrating the strength and predictability of our fully delegated, payer-agnostic care model and AI-enabled technology platform in a dynamic operating environment,” said Brandon Sim, President and Chief Executive Officer of Astrana Health.
Astrana Health Total Revenue
Astrana Health pulled off the fastest revenue growth but had the weakest full-year guidance update of the whole group. Unsurprisingly, the stock is up 19.4% since reporting and currently trades at $24.27.
Operating in 13 states and the District of Columbia with over 4,300 providers serving more than 4.8 million patients, Privia Health (NASDAQ:PRVA) is a technology-driven company that helps physicians optimize their practices, improve patient experiences, and transition to value-based care models.
Privia Health reported revenues of $541.2 million, up 17.4% year on year, outperforming analysts’ expectations by 4.8%. The business had a stunning quarter with a beat of analysts’ EPS estimates and full-year revenue guidance exceeding analysts’ expectations.
Privia Health Total Revenue
Privia Health achieved the biggest analyst estimates beat and highest full-year guidance raise among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 7% since reporting. It currently trades at $21.07.
Driven by the vision of an “Autonomous Pharmacy” with zero medication errors, Omnicell (NASDAQ:OMCL) provides medication management automation and adherence tools that help healthcare systems and pharmacies reduce errors and improve efficiency.
Omnicell reported revenues of $314 million, up 2.3% year on year, in line with analysts’ expectations. It was a mixed quarter as it posted EBITDA guidance for next quarter exceeding analysts’ expectations but a significant miss of analysts’ full-year EPS guidance estimates.
Omnicell delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 29.4% since the results and currently trades at $32.96.
Founded in 2011 to transform how healthcare is delivered to patients with complex needs, Evolent Health (NYSE:EVH) provides specialty care management services and technology solutions that help health plans and providers deliver better care for patients with complex conditions.
Evolent Health reported revenues of $468.7 million, down 27.5% year on year. This result met analysts’ expectations. Overall, it was a strong quarter as it also recorded a beat of analysts’ EPS estimates and full-year revenue guidance exceeding analysts’ expectations.
Evolent Health had the slowest revenue growth among its peers. The stock is flat since reporting and currently trades at $2.58.
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