Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $9.11 Consensus Price Target from Brokerages

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have earned an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $9.11.

A number of equities analysts have issued reports on the stock. Piper Sandler upgraded shares of Alignment Healthcare from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $6.00 to $8.00 in a research report on Wednesday, May 8th. Stifel Nicolaus dropped their price objective on Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, April 23rd. Robert W. Baird began coverage on Alignment Healthcare in a research note on Thursday, May 30th. They set an “outperform” rating and a $10.00 target price on the stock. Stephens raised their price target on Alignment Healthcare from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Finally, Baird R W raised shares of Alignment Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th.

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 transaction of $128,160.00. Following the completion of the sale, the insider now directly owns 422,912 shares in the company, valued at approximately $3,387,525.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Christopher J. Joyce sold 16,000 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $8.01, for a total transaction of $128,160.00. Following the sale, the insider now directly owns 422,912 shares of the company’s stock, valued at $3,387,525.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dawn Christine Maroney sold 20,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $8.21, for a total value of $164,200.00. Following the completion of the transaction, the insider now directly owns 1,956,097 shares of the company’s stock, valued at approximately $16,059,556.37. The disclosure for this sale can be found here. Insiders sold a total of 37,866 shares of company stock valued at $307,360 in the last quarter. 6.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC purchased a new position in shares of Alignment Healthcare during the 3rd quarter valued at about $206,000. Jump Financial LLC purchased a new stake in shares of Alignment Healthcare in the fourth quarter worth $575,000. Vanguard Group Inc. raised its position in shares of Alignment Healthcare by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,121,432 shares of the company’s stock valued at $63,303,000 after purchasing an additional 322,661 shares during the period. Barlow Wealth Partners Inc. purchased a new position in shares of Alignment Healthcare during the 4th quarter valued at $100,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Alignment Healthcare by 18.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,289 shares of the company’s stock worth $269,000 after buying an additional 4,862 shares during the period. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Alignment Healthcare Trading Up 0.7 %

NASDAQ ALHC opened at $8.87 on Monday. The firm has a market cap of $1.70 billion, a PE ratio of -10.56 and a beta of 1.43. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $9.20. The stock has a 50-day moving average of $7.63 and a 200-day moving average of $6.64. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.23.

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

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.