Alignment Healthcare (NASDAQ:ALHC) Reaches New 52-Week High – Still a Buy?

Alignment Healthcare, Inc. (NASDAQ:ALHC) reached a new 52-week high on Tuesday . The stock traded as high as $23.96 and last traded at $23.9050, with a volume of 966881 shares changing hands. The stock had previously closed at $23.26.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ALHC shares. Raymond James Financial set a $22.00 price target on shares of Alignment Healthcare in a research report on Thursday, May 7th. UBS Group lifted their price objective on shares of Alignment Healthcare from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Wall Street Zen raised shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded shares of Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Finally, Zacks Research upgraded shares of Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.30.

Alignment Healthcare Stock Up 2.6%

The business has a 50-day simple moving average of $18.81 and a 200-day simple moving average of $19.61. 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 company has a market cap of $4.93 billion, a price-to-earnings ratio of 265.17, a price-to-earnings-growth ratio of 3.13 and a beta of 1.14.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the company posted ($0.05) earnings per share. The business’s revenue for the quarter was up 33.3% on a year-over-year basis. On average, equities analysts anticipate that Alignment Healthcare, Inc. will post 0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Hyong Kim sold 35,951 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $19.86, for a total value of $713,986.86. Following the transaction, the insider owned 331,750 shares of the company’s stock, valued at $6,588,555. This represents a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joseph S. Konowiecki sold 25,000 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $23.00, for a total value of $575,000.00. Following the completion of the sale, the executive vice president owned 1,128,816 shares in the company, valued at approximately $25,962,768. This represents a 2.17% decrease in their ownership of the stock. 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. In the last three months, insiders sold 1,324,064 shares of company stock worth $26,053,457. 5.20% of the stock is currently 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. Allworth Financial LP increased its stake in Alignment Healthcare by 8.9% in the fourth quarter. Allworth Financial LP now owns 6,917 shares of the company’s stock valued at $137,000 after purchasing an additional 566 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of 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 valued at $223,000 after buying an additional 636 shares in the last quarter. Integrated Wealth Concepts LLC boosted 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 buying an additional 665 shares in the last quarter. Parallel Advisors LLC grew its position 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 buying an additional 773 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in Alignment Healthcare by 4.9% during the 2nd quarter. Tidal Investments LLC now owns 18,094 shares of the company’s stock worth $253,000 after acquiring an additional 852 shares in the last quarter. Institutional investors and hedge funds 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.