Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $24.60 Consensus Price Target from Analysts

Alignment Healthcare, Inc. (NASDAQ:ALHC) has earned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $24.60.

ALHC has been the topic of several recent analyst reports. UBS Group boosted their price target on Alignment Healthcare from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Robert W. Baird set a $28.00 price target on Alignment Healthcare in a research note on Friday, January 30th. Zacks Research raised Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Wolfe Research initiated coverage on Alignment Healthcare in a research note on Friday, April 17th. They issued an “outperform” rating and a $24.00 price target on the stock. Finally, Weiss Ratings raised Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th.

Insider Buying and Selling

In other news, CEO John E. Kao sold 298,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $16.89, for a total transaction of $5,033,220.00. Following the transaction, the chief executive officer directly owned 1,508,641 shares of the company’s stock, valued at $25,480,946.49. This represents a 16.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Dawn Christine Maroney sold 36,749 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $17.84, for a total value of $655,602.16. Following the transaction, the president directly owned 1,058,813 shares in the company, valued at $18,889,223.92. The trade was a 3.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,569,859 shares of company stock worth $29,433,158 over the last ninety days. 5.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its position in Alignment Healthcare by 156.5% in the 1st quarter. Bank of America Corp DE now owns 3,215,667 shares of the company’s stock valued at $56,660,000 after acquiring an additional 1,961,778 shares in the last quarter. Edgestream Partners L.P. bought a new position in Alignment Healthcare in the 1st quarter valued at about $4,852,000. California State Teachers Retirement System lifted its position in Alignment Healthcare by 25.4% in the 1st quarter. California State Teachers Retirement System now owns 198,200 shares of the company’s stock valued at $3,492,000 after acquiring an additional 40,135 shares in the last quarter. Quantinno Capital Management LP lifted its position in Alignment Healthcare by 442.2% in the 1st quarter. Quantinno Capital Management LP now owns 89,387 shares of the company’s stock valued at $1,575,000 after acquiring an additional 72,900 shares in the last quarter. Finally, Orbimed Advisors LLC bought a new position in Alignment Healthcare in the 1st quarter valued at about $13,937,000. 86.19% of the stock is owned by institutional investors.

Alignment Healthcare Price Performance

Shares of ALHC opened at $16.66 on Thursday. 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 1.56, a quick ratio of 1.58 and a current ratio of 1.58. The business’s 50 day moving average price is $18.90 and its two-hundred day moving average price is $19.44. The firm has a market cap of $3.44 billion, a PE ratio of 185.11, a price-to-earnings-growth ratio of 2.29 and a beta of 1.26.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the firm earned ($0.05) earnings per share. The company’s revenue was up 33.3% compared to the same quarter last year. On average, equities analysts anticipate that Alignment Healthcare will post 0.19 EPS for the current year.

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.