Brokerages Set Alignment Healthcare, Inc. (NASDAQ:ALHC) Target Price at $24.67

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $24.6667.

A number of equities research analysts recently weighed in on ALHC shares. JPMorgan Chase & Co. raised their price objective on Alignment Healthcare from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alignment Healthcare in a report on Monday. Robert W. Baird set a $28.00 price target on shares of Alignment Healthcare in a research report on Friday, January 30th. UBS Group raised their price target on shares of Alignment Healthcare from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, Wall Street Zen lowered shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th.

Insider Activity

In other news, President Dawn Christine Maroney sold 30,000 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $20.87, for a total value of $626,100.00. Following the completion of the sale, the president owned 1,028,813 shares of the company’s stock, valued at $21,471,327.31. This trade represents a 2.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO James M. Head sold 11,100 shares of the business’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $21.08, for a total value of $233,988.00. Following the transaction, the chief financial officer owned 173,495 shares in the company, valued at approximately $3,657,274.60. This trade represents a 6.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 1,474,097 shares of company stock worth $28,679,550. Company insiders own 7.00% of the company’s stock.

Institutional Trading of Alignment Healthcare

A number of institutional investors have recently bought and sold shares of the stock. Summit Securities Group LLC acquired a new position in Alignment Healthcare during the 4th quarter valued at approximately $26,000. Parallel Advisors LLC grew its holdings in shares of Alignment Healthcare by 87.7% during the fourth 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. Larson Financial Group LLC purchased a new stake in shares of Alignment Healthcare during the third quarter valued at $33,000. First Horizon Corp acquired a new position in shares of Alignment Healthcare in the 4th quarter valued at $39,000. Finally, GAMMA Investing LLC increased its position in shares of Alignment Healthcare by 83.8% in the 4th quarter. GAMMA Investing LLC now owns 2,165 shares of the company’s stock valued at $43,000 after acquiring an additional 987 shares during the period. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Stock Performance

Shares of NASDAQ:ALHC opened at $20.83 on Friday. The firm has a 50 day moving average of $19.27 and a 200 day moving average of $19.27. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $4.26 billion, a price-to-earnings ratio of -2,080.92, a price-to-earnings-growth ratio of 3.07 and a beta of 1.20. Alignment Healthcare has a 52 week low of $11.63 and a 52 week high of $23.87.

Alignment Healthcare (NASDAQ:ALHC) last announced its earnings results on Thursday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.10. Alignment Healthcare had a negative return on equity of 0.49% and a negative net margin of 0.02%.The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter last year, the firm earned ($0.16) EPS. The business’s revenue for the quarter was up 44.4% on a year-over-year basis. On average, sell-side analysts predict that Alignment Healthcare will post 0.18 earnings per share for the current fiscal year.

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.