Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $23.95 Average PT from Analysts

Alignment Healthcare, Inc. (NASDAQ:ALHC) has been given a consensus recommendation of “Moderate Buy” by the thirteen research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $23.95.

Several brokerages have issued reports on ALHC. TD Cowen increased their price target on Alignment Healthcare from $18.50 to $25.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Wall Street Zen upgraded Alignment Healthcare from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Robert W. Baird set a $28.00 target price on shares of Alignment Healthcare in a report on Friday, January 30th. Piper Sandler lifted their price target on shares of Alignment Healthcare from $20.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Alignment Healthcare from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th.

Alignment Healthcare Price Performance

ALHC opened at $19.65 on Friday. The company has a fifty day moving average price of $20.98 and a two-hundred day moving average price of $18.60. The firm has a market capitalization of $3.93 billion, a PE ratio of -1,963.04, a P/E/G ratio of 4.90 and a beta of 1.19. Alignment Healthcare has a 52 week low of $11.63 and a 52 week high of $23.87. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.61 and a current ratio of 1.61.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.10. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Alignment Healthcare had a negative return on equity of 0.53% and a negative net margin of 0.02%.The firm’s revenue was up 44.4% on a year-over-year basis. During the same period last year, the company earned ($0.16) EPS. As a group, analysts anticipate that Alignment Healthcare will post -0.69 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Robert L. Scavo sold 69,541 shares of the company’s stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $18.74, for a total transaction of $1,303,198.34. Following the sale, the insider owned 503,014 shares in the company, valued at approximately $9,426,482.36. This represents a 12.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John E. Kao sold 605,648 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $18.74, for a total value of $11,349,843.52. Following the transaction, the chief executive officer directly owned 2,234,294 shares of the company’s stock, valued at $41,870,669.56. This trade represents a 21.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 2,125,938 shares of company stock worth $41,799,570. 6.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Alignment Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP raised its position in Alignment Healthcare by 8.9% during the fourth quarter. Allworth Financial LP now owns 6,917 shares of the company’s stock worth $137,000 after acquiring an additional 566 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Alignment Healthcare by 6.0% during the 4th quarter. State of Alaska Department of Revenue now owns 11,296 shares of the company’s stock worth $223,000 after purchasing an additional 636 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Alignment Healthcare by 6.3% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 11,230 shares of the company’s stock valued at $196,000 after purchasing an additional 665 shares during the period. Parallel Advisors LLC lifted its stake in Alignment Healthcare by 87.7% in the 4th quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock valued at $33,000 after purchasing an additional 773 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Alignment Healthcare by 2.3% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 37,752 shares of the company’s stock valued at $659,000 after purchasing an additional 844 shares during the last quarter. Institutional investors own 86.19% of the company’s stock.

About Alignment Healthcare

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.