Alignment Healthcare (NASDAQ:ALHC) Price Target Cut to $8.00 by Analysts at UBS Group

Alignment Healthcare (NASDAQ:ALHC) had its price target trimmed by UBS Group from $9.00 to $8.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts also recently commented on ALHC. TD Cowen dropped their price target on Alignment Healthcare from $21.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Weiss Ratings lowered Alignment Healthcare from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday. Raymond James Financial reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research report on Monday, October 12th. Needham & Company LLC initiated coverage on shares of Alignment Healthcare in a research report on Wednesday, October 28th. They issued a “hold” rating for the company. Finally, Wall Street Zen lowered shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.18.

Alignment Healthcare Stock Performance

Alignment Healthcare stock opened at $7.27 on Friday. The company has a market cap of $1.52 billion, a P/E ratio of 55.93 and a beta of 1.07. The firm’s 50-day moving average is $9.87 and its 200-day moving average is $16.82. 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 1.17, a quick ratio of 1.71 and a current ratio of 1.71.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Thursday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). Alignment Healthcare had a net margin of 0.59% and a return on equity of 12.46%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the business posted $0.02 EPS. Alignment Healthcare’s revenue was up 36.7% on a year-over-year basis. On average, equities analysts expect that Alignment Healthcare will post 0.14 earnings per share for the current year.

Insider Buying and Selling

In other Alignment Healthcare news, EVP Joseph S. Konowiecki sold 23,511 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $8.61, for a total transaction of $202,429.71. Following the sale, the executive vice president owned 1,080,305 shares in the company, valued at approximately $9,301,426.05. This trade represents a 2.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John E. Kao sold 385,270 shares of the firm’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $12.68, for a total transaction of $4,885,223.60. Following the completion of the transaction, the chief executive officer directly owned 1,223,473 shares of the company’s stock, valued at approximately $15,513,637.64. This trade represents a 23.95% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 1,061,967 shares of company stock valued at $13,642,490 over the last ninety days. Insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALHC. Oregon Public Employees Retirement Fund increased its stake in shares of Alignment Healthcare by 11.7% in the third quarter. Oregon Public Employees Retirement Fund now owns 41,900 shares of the company’s stock worth $342,000 after acquiring an additional 4,400 shares during the period. Vise Technologies Inc. boosted its stake in Alignment Healthcare by 31.2% in the third quarter. Vise Technologies Inc. now owns 12,163 shares of the company’s stock valued at $99,000 after acquiring an additional 2,894 shares in the last quarter. VestGen Advisors LLC purchased a new position in Alignment Healthcare in the 3rd quarter valued at $135,000. Park Avenue Securities LLC grew its stake in shares of Alignment Healthcare by 37.2% during the 3rd quarter. Park Avenue Securities LLC now owns 59,635 shares of the company’s stock worth $487,000 after purchasing an additional 16,157 shares during the period. Finally, Sterling Capital Management LLC grew its holdings in Alignment Healthcare by 839.9% in the third quarter. Sterling Capital Management LLC now owns 6,739 shares of the company’s stock valued at $55,000 after purchasing an additional 6,022 shares during the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

About Alignment Healthcare

Alignment Healthcare, Inc is a technology-enabled health insurance company focused on providing Medicare Advantage plans for seniors. The company combines health plan coverage with care coordination and clinical services designed to help members manage chronic conditions, access providers and navigate the health care system.

Its offerings include Medicare Advantage plans, supplemental benefits and member support services. Alignment also uses its proprietary technology platform, including the Alignment Virtual Application (AVA), to support care teams, analyze health information and help deliver more personalized services to members.

Founded in 2013, Alignment Healthcare serves Medicare-eligible consumers in selected markets, including California, Florida, Nevada and North Carolina.