Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $23.60 Consensus Price Target from Analysts

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have received a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $23.60.

A number of brokerages recently commented on ALHC. TD Cowen restated a “buy” rating on shares of Alignment Healthcare in a research note on Monday, August 3rd. Barclays cut their price target on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, May 26th. Wall Street Zen cut Alignment Healthcare from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. UBS Group restated a “neutral” rating on shares of Alignment Healthcare in a research note on Wednesday, July 8th. Finally, Zacks Research lowered Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th.

Alignment Healthcare Trading Up 2.1%

NASDAQ:ALHC opened at $13.43 on Friday. Alignment Healthcare has a 12 month low of $12.70 and a 12 month high of $25.12. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 1.22. The firm’s 50 day moving average is $18.71 and its 200 day moving average is $18.73. The stock has a market capitalization of $2.79 billion, a PE ratio of 70.69 and a beta of 1.10.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.The business’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.07 EPS. Sell-side analysts expect that Alignment Healthcare will post 0.17 earnings per share for the current year.

Insider Buying and Selling

In other news, President Dawn Christine Maroney sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $19.55, for a total value of $586,500.00. Following the completion of the transaction, the president directly owned 947,313 shares in the company, valued at approximately $18,519,969.15. This trade represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Hyong Kim sold 35,951 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $19.86, for a total transaction of $713,986.86. Following the transaction, the insider directly owned 331,750 shares of the company’s stock, valued at approximately $6,588,555. This represents a 9.78% decrease in their position. 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. Insiders sold 1,009,951 shares of company stock valued at $18,597,287 in the last three months. Insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Allworth Financial LP boosted its stake in Alignment Healthcare by 8.9% during the fourth quarter. Allworth Financial LP now owns 6,917 shares of the company’s stock valued at $137,000 after buying an additional 566 shares during the period. State of Alaska Department of Revenue increased its stake in Alignment Healthcare by 6.0% in the 4th quarter. State of Alaska Department of Revenue now owns 11,296 shares of the company’s stock worth $223,000 after acquiring an additional 636 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in Alignment Healthcare by 6.3% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 11,230 shares of the company’s stock worth $196,000 after acquiring an additional 665 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of 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 acquiring an additional 773 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Alignment Healthcare by 4.9% in the 2nd quarter. Tidal Investments LLC now owns 18,094 shares of the company’s stock valued at $253,000 after acquiring an additional 852 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.

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.