Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $24.30 Consensus Price Target from Analysts

Alignment Healthcare, Inc. (NASDAQ:ALHC) has received a consensus rating of “Moderate Buy” from the ten brokerages that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $24.30.

Several equities research analysts recently commented on ALHC shares. Wall Street Zen upgraded Alignment Healthcare from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. KeyCorp restated an “overweight” rating on shares of Alignment Healthcare in a report on Wednesday, June 10th. Wolfe Research began coverage on shares of Alignment Healthcare in a research report on Friday, April 17th. They issued an “outperform” rating and a $24.00 price objective for the company. Raymond James Financial set a $22.00 price objective on shares of Alignment Healthcare in a research note on Thursday, May 7th. Finally, Barclays reduced their target price on shares of Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 26th.

Alignment Healthcare Stock Performance

NASDAQ:ALHC opened at $24.05 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 267.22, a PEG ratio of 3.32 and a beta of 1.05. The firm’s fifty day simple moving average is $19.15 and its 200 day simple moving average is $19.79. Alignment Healthcare has a twelve month low of $11.63 and a twelve month high of $25.12.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the firm earned ($0.05) EPS. The firm’s quarterly revenue was up 33.3% compared to the same quarter last year. As a group, equities research analysts expect that Alignment Healthcare will post 0.2 earnings per share for the current fiscal year.

Insider Activity

In other Alignment Healthcare news, insider Mark D. Kent bought 14,848 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was bought at an average cost of $13.31 per share, for a total transaction of $197,626.88. Following the completion of the purchase, the insider directly owned 14,848 shares of the company’s stock, valued at approximately $197,626.88. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Joseph S. Konowiecki sold 25,000 shares of Alignment Healthcare stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $24.00, for a total value of $600,000.00. Following the sale, the executive vice president directly owned 1,103,816 shares in the company, valued at approximately $26,491,584. The trade was a 2.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,069,951 shares of company stock worth $20,846,518 over the last three months. 5.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in shares of Alignment Healthcare by 46.6% during the 2nd quarter. GAMMA Investing LLC now owns 3,368 shares of the company’s stock valued at $80,000 after buying an additional 1,070 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Alignment Healthcare by 463.3% in the second quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock worth $33,000 after buying an additional 1,135 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Alignment Healthcare by 156.5% in the first quarter. Bank of America Corp DE now owns 3,215,667 shares of the company’s stock worth $56,660,000 after buying an additional 1,961,778 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in Alignment Healthcare in the first quarter valued at $4,852,000. Finally, California State Teachers Retirement System raised its holdings in Alignment Healthcare by 25.4% in the first quarter. California State Teachers Retirement System now owns 198,200 shares of the company’s stock valued at $3,492,000 after acquiring an additional 40,135 shares in the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.