Alignment Healthcare (NASDAQ:ALHC) Given New $22.00 Price Target at JPMorgan Chase & Co.

Alignment Healthcare (NASDAQ:ALHC) had its price objective cut by analysts at JPMorgan Chase & Co. from $26.00 to $22.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 59.83% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings upgraded shares of Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. KeyCorp reissued an “overweight” rating on shares of Alignment Healthcare in a report on Wednesday, June 10th. TD Cowen restated a “buy” rating on shares of Alignment Healthcare in a research report on Monday. Barclays dropped their price objective on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 26th. Finally, Wall Street Zen cut Alignment Healthcare from a “buy” rating to a “hold” rating in a research report on Saturday. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.60.

Alignment Healthcare Stock Performance

Shares of ALHC stock traded down $0.80 during trading hours on Tuesday, reaching $13.77. 5,974,613 shares of the company traded hands, compared to its average volume of 4,516,670. The firm has a 50-day moving average price of $19.67 and a 200 day moving average price of $19.71. The company has a market cap of $2.85 billion, a P/E ratio of 72.27, a P/E/G ratio of 1.98 and a beta of 1.10. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.70 and a quick ratio of 1.70. Alignment Healthcare has a 12-month low of $13.05 and a 12-month high of $25.12.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Thursday, July 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. Alignment Healthcare had a net margin of 0.89% and a return on equity of 20.02%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the firm posted $0.07 EPS. The firm’s quarterly revenue was up 31.6% compared to the same quarter last year. As a group, sell-side analysts predict that Alignment Healthcare will post 0.2 earnings per share for the current fiscal year.

Insider Transactions at Alignment Healthcare

In other news, CEO John E. Kao sold 298,000 shares of Alignment Healthcare stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $19.86, for a total value of $5,918,280.00. Following the sale, the chief executive officer directly owned 1,088,766 shares of the company’s stock, valued at approximately $21,622,892.76. The trade was a 21.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joseph S. Konowiecki sold 25,000 shares of the business’s 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 completion of the sale, the executive vice president owned 1,103,816 shares in the company, valued at $26,491,584. This represents a 2.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,039,951 shares of company stock valued at $19,976,967. 5.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ALHC. Royal Bank of Canada grew its position in Alignment Healthcare by 92.6% in the first quarter. Royal Bank of Canada now owns 92,379 shares of the company’s stock worth $1,720,000 after acquiring an additional 44,413 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Alignment Healthcare by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,557 shares of the company’s stock valued at $1,109,000 after buying an additional 2,594 shares during the period. Goldman Sachs Group Inc. raised its holdings in Alignment Healthcare by 79.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 972,715 shares of the company’s stock valued at $18,112,000 after buying an additional 429,703 shares during the period. Woodline Partners LP bought a new stake in Alignment Healthcare in the first quarter worth $2,142,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Alignment Healthcare by 16.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 307,655 shares of the company’s stock worth $5,729,000 after buying an additional 44,452 shares during the period. 86.19% of the stock is currently owned by institutional investors.

Alignment Healthcare News Summary

Here are the key news stories impacting Alignment Healthcare this week:

• Positive Sentiment: Oversold conditions could support a rebound: Zacks reported that ALHC is technically oversold after declining 37.6% in four weeks. The report also noted that Wall Street analysts have been raising earnings estimates, which could provide a near-term catalyst if selling pressure eases. Zacks turnaround analysis
• Positive Sentiment: Raymond James still sees upside: Although the firm lowered its rating from “strong buy” to “outperform” and cut its price target from $22 to $19, the revised target remains well above the recently cited market price, implying substantial potential appreciation. The change nevertheless signals reduced conviction. Analyst rating report

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.