Alignment Healthcare (NASDAQ:ALHC) Given New $12.00 Price Target at Stifel Nicolaus

Alignment Healthcare (NASDAQ:ALHC) had its price target lifted by research analysts at Stifel Nicolaus from $9.00 to $12.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 29.17% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on ALHC. Robert W. Baird assumed coverage on shares of Alignment Healthcare in a research note on Thursday, May 30th. They set an “outperform” rating and a $10.00 price objective on the stock. Bank of America upgraded shares of Alignment Healthcare from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $7.75 to $11.00 in a research note on Thursday, May 30th. Baird R W upgraded shares of Alignment Healthcare to a “strong-buy” rating in a research note on Thursday, May 30th. Piper Sandler raised Alignment Healthcare from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $6.00 to $8.00 in a report on Wednesday, May 8th. Finally, Stephens lifted their target price on Alignment Healthcare from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Alignment Healthcare has a consensus rating of “Moderate Buy” and an average price target of $9.44.

Alignment Healthcare Stock Down 0.7 %

Shares of ALHC stock traded down $0.07 during mid-day trading on Friday, reaching $9.29. 385,434 shares of the company were exchanged, compared to its average volume of 926,934. The company has a market capitalization of $1.78 billion, a P/E ratio of -11.17 and a beta of 1.43. The business’s 50 day simple moving average is $8.13 and its 200 day simple moving average is $6.74. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.57 and a current ratio of 1.57. Alignment Healthcare has a fifty-two week low of $4.46 and a fifty-two week high of $10.16.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The business had revenue of $628.60 million during the quarter, compared to analyst estimates of $599.75 million. Alignment Healthcare had a negative return on equity of 91.06% and a negative net margin of 7.81%. The business’s revenue for the quarter was up 43.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.20) EPS. Research analysts predict that Alignment Healthcare will post -0.67 earnings per share for the current year.

Insider Activity

In other news, CFO Robert Thomas Freeman sold 38,858 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $10.01, for a total transaction of $388,968.58. Following the sale, the chief financial officer now directly owns 414,429 shares in the company, valued at $4,148,434.29. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alignment Healthcare news, Chairman Joseph S. Konowiecki sold 22,400 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $9.06, for a total value of $202,944.00. Following the transaction, the chairman now owns 1,233,221 shares of the company’s stock, valued at $11,172,982.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Robert Thomas Freeman sold 38,858 shares of the company’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $10.01, for a total value of $388,968.58. Following the transaction, the chief financial officer now directly owns 414,429 shares in the company, valued at approximately $4,148,434.29. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 225,221 shares of company stock worth $2,142,155. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds have recently added to or reduced their stakes in ALHC. Principal Financial Group Inc. bought a new stake in shares of Alignment Healthcare in the first quarter worth about $57,000. Virtu Financial LLC bought a new position in shares of Alignment Healthcare during the first quarter worth about $57,000. Barlow Wealth Partners Inc. bought a new position in shares of Alignment Healthcare during the fourth quarter worth about $100,000. Victory Capital Management Inc. grew its holdings in shares of Alignment Healthcare by 17.9% during the fourth quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock worth $111,000 after buying an additional 1,962 shares in the last quarter. Finally, Aigen Investment Management LP grew its holdings in shares of Alignment Healthcare by 18.5% during the fourth quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock worth $170,000 after buying an additional 3,092 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.