Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock Has Consensus Target Price of $19.18

by · The Cerbat Gem

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC – Get Free Report) have earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $16.82.

Several brokerages have recently weighed in on ALHC. Zacks Research downgraded shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Scotiabank set a $9.00 price target on shares of Alignment Healthcare in a report on Friday, October 9th. Raymond James Financial restated an “outperform” rating on shares of Alignment Healthcare in a research report on Monday, October 12th. Wall Street Zen downgraded shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, William Blair lowered Alignment Healthcare from an “outperform” rating to a “market perform” rating in a report on Friday, October 9th.

Check Out Our Latest Report on Alignment Healthcare

Alignment Healthcare Price Performance

Shares of NASDAQ ALHC opened at $8.28 on Friday. The stock has a fifty day moving average price of $10.92 and a 200 day moving average price of $16.32. Alignment Healthcare has a 1-year low of $6.01 and a 1-year high of $25.12. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.70 and a quick ratio of 1.70. The company has a market cap of $1.72 billion, a PE ratio of 43.58 and a beta of 1.14.

Alignment Healthcare (NASDAQ:ALHC – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Alignment Healthcare had a net margin of 0.89% and a return on equity of 20.02%. Alignment Healthcare’s revenue was up 31.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 EPS. Sell-side analysts forecast that Alignment Healthcare will post 0.14 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Joseph Konowiecki sold 23,511 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $8.61, for a total value of $202,429.71. Following the completion of the sale, the executive vice president directly owned 1,080,305 shares of the company’s stock, valued at $9,301,426.05. This trade represents a 2.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Hyong Kim sold 32,479 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $8.30, for a total value of $269,575.70. Following the completion of the sale, the insider owned 299,271 shares in the company, valued at approximately $2,483,949.30. This trade represents a 9.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 1,061,967 shares of company stock valued at $13,642,490. Corporate insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

A number of hedge funds and other institutional investors have recently bought and sold shares of ALHC. Versant Capital Management Inc boosted its position in shares of Alignment Healthcare by 463.3% during the 2nd quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock worth $33,000 after purchasing an additional 1,135 shares in the last quarter. Nykredit A S purchased a new position in shares of Alignment Healthcare in the 2nd quarter valued at about $36,000. Signature Equity Partners LLC purchased a new position in shares of Alignment Healthcare in the 1st quarter valued at about $46,000. GAMMA Investing LLC increased its holdings in shares of Alignment Healthcare by 46.6% in the 2nd quarter. GAMMA Investing LLC now owns 3,368 shares of the company’s stock valued at $80,000 after purchasing an additional 1,070 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Alignment Healthcare by 51,757.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,630 shares of the company’s stock valued at $72,000 after purchasing an additional 3,623 shares during the period. Institutional investors and hedge funds own 86.19% of the company’s stock.

Alignment Healthcare Company Profile

(Get Free Report)

Alignment Healthcare, Inc is a technology-enabled Medicare Advantage company focused on providing health coverage and care services for older adults. The company offers Medicare Advantage plans that combine medical benefits with care coordination, wellness support, and other services designed to help members manage their health.

Alignment operates through an integrated healthcare model that uses its proprietary technology platform to support physicians, care teams, and members. Its services include personalized care management, clinical coordination, virtual and in-home support, and member assistance through its concierge-style approach.

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