Alignment Healthcare (NASDAQ:ALHC) Issues Earnings Results

Alignment Healthcare (NASDAQ:ALHC) posted its earnings results on Thursday. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.01, Briefing.com reports. The company had revenue of $681.29 million during the quarter, compared to analyst estimates of $637.66 million. Alignment Healthcare had a negative return on equity of 95.55% and a negative net margin of 6.85%. The company’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.15) EPS. Alignment Healthcare updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

Alignment Healthcare Stock Up 3.7 %

Shares of NASDAQ:ALHC opened at $8.94 on Friday. The business’s 50-day moving average is $8.31 and its 200-day moving average is $6.76. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.57 and a quick ratio of 1.57. Alignment Healthcare has a 1 year low of $4.46 and a 1 year high of $10.16.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, insider Christopher J. Joyce sold 16,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $8.01, for a total value of $128,160.00. Following the completion of the sale, the insider now directly owns 422,912 shares in the company, valued at $3,387,525.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Christopher J. Joyce sold 16,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $8.01, for a total value of $128,160.00. Following the transaction, the insider now owns 422,912 shares in the company, valued at approximately $3,387,525.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christopher J. Joyce sold 15,034 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $9.05, for a total value of $136,057.70. Following the sale, the insider now directly owns 406,912 shares in the company, valued at $3,682,553.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 225,221 shares of company stock worth $2,142,155. Insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

ALHC has been the topic of a number of research reports. Robert W. Baird started coverage on Alignment Healthcare in a report on Thursday, May 30th. They issued an “outperform” rating and a $10.00 price target on the stock. Baird R W raised shares of Alignment Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th. Bank of America raised 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 report on Thursday, May 30th. Stifel Nicolaus raised their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Piper Sandler raised Alignment Healthcare from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $6.00 to $8.00 in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Alignment Healthcare has a consensus rating of “Moderate Buy” and an average price target of $9.44.

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.