Alignment Healthcare (NASDAQ:ALHC) Reaches New 12-Month High – Still a Buy?

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $23.20 and last traded at $22.7750, with a volume of 625365 shares. The stock had previously closed at $22.74.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. TD Cowen boosted their target price on shares of Alignment Healthcare from $18.50 to $25.00 and gave the stock a “buy” rating in a report on Friday, January 16th. UBS Group boosted their price objective on shares of Alignment Healthcare from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. KeyCorp reiterated an “overweight” rating and issued a $28.00 target price on shares of Alignment Healthcare in a research note on Thursday. Zacks Research cut Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. upped their price objective on Alignment Healthcare from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Alignment Healthcare has an average rating of “Moderate Buy” and a consensus price target of $22.50.

Alignment Healthcare Stock Up 0.8%

The firm has a market cap of $4.76 billion, a P/E ratio of -198.42, a P/E/G ratio of 6.13 and a beta of 1.16. The firm’s fifty day moving average is $19.73 and its 200 day moving average is $17.07. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.61 and a current ratio of 1.61.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Alignment Healthcare had a negative return on equity of 16.23% and a negative net margin of 0.57%.The company had revenue of $993.70 million during the quarter, compared to analysts’ expectations of $980.90 million. During the same quarter in the previous year, the company posted ($0.14) earnings per share. The business’s revenue was up 43.5% on a year-over-year basis. As a group, equities research analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, President Dawn Christine Maroney sold 30,000 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $22.48, for a total value of $674,400.00. Following the transaction, the president directly owned 1,027,015 shares in the company, valued at approximately $23,087,297.20. This represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Hyong Kim sold 16,506 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $21.35, for a total transaction of $352,403.10. Following the transaction, the insider directly owned 333,133 shares in the company, valued at approximately $7,112,389.55. This represents a 4.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,128,532 shares of company stock worth $40,979,538 over the last three months. 7.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue raised its position in shares of Alignment Healthcare by 6.0% in the fourth 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. Whalen Wealth Management Inc. bought a new position in Alignment Healthcare during the 4th quarter worth $239,000. Allspring Global Investments Holdings LLC raised its holdings in Alignment Healthcare by 2.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 652,648 shares of the company’s stock valued at $13,197,000 after acquiring an additional 16,265 shares in the last quarter. SG Americas Securities LLC raised its holdings in Alignment Healthcare by 148.5% in the 4th quarter. SG Americas Securities LLC now owns 60,390 shares of the company’s stock valued at $1,193,000 after acquiring an additional 36,084 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Alignment Healthcare by 6,708.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,774,975 shares of the company’s stock valued at $35,056,000 after acquiring an additional 1,748,903 shares during the period. 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.