Alignment Healthcare (NASDAQ:ALHC – Get Free Report) had its price objective reduced by analysts at UBS Group from $9.00 to $8.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group‘s target price points to a potential upside of 10.04% from the stock’s current price.
Other analysts have also issued research reports about the stock. Weiss Ratings lowered shares of Alignment Healthcare from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday. The Goldman Sachs Group reiterated a “buy” rating and issued a $12.00 price objective on shares of Alignment Healthcare in a research report on Thursday, October 22nd. Piper Sandler reissued an “overweight” rating and issued a $15.00 target price on shares of Alignment Healthcare in a research note on Friday. Zacks Research downgraded Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Alignment Healthcare in a report on Monday, October 12th. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.18.
Get Our Latest Stock Report on ALHC
Alignment Healthcare Stock Performance
Shares of ALHC stock opened at $7.27 on Friday. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 55.93 and a beta of 1.07. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 1.17. Alignment Healthcare has a fifty-two week low of $6.01 and a fifty-two week high of $25.12. The firm’s 50 day moving average price is $9.87 and its two-hundred day moving average price is $16.82.
Alignment Healthcare (NASDAQ:ALHC – Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.31 billion. Alignment Healthcare had a net margin of 0.59% and a return on equity of 12.46%. The business’s revenue for the quarter was up 36.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.02 EPS. On average, analysts anticipate that Alignment Healthcare will post 0.14 EPS for the current year.
Insider Buying and Selling at Alignment Healthcare
In related news, EVP Joseph Konowiecki sold 23,511 shares of the business’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $8.61, for a total value of $202,429.71. Following the completion of the transaction, the executive vice president owned 1,080,305 shares of the company’s stock, valued at $9,301,426.05. The trade was a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Hyong Kim sold 32,479 shares of the stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $8.30, for a total transaction of $269,575.70. Following the completion of the transaction, the insider directly owned 299,271 shares of the company’s stock, valued at approximately $2,483,949.30. The trade was a 9.79% decrease in their position. 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. Insiders have sold a total of 1,061,967 shares of company stock valued at $13,642,490 in the last three months. Corporate insiders own 5.20% of the company’s stock.
Institutional Investors Weigh In On Alignment Healthcare
Institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc boosted its holdings in Alignment Healthcare by 463.3% during the second quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock worth $33,000 after purchasing an additional 1,135 shares during the last quarter. Nykredit A S bought a new position in shares of Alignment Healthcare in the second quarter worth $36,000. Signature Equity Partners LLC bought a new position in shares of Alignment Healthcare in the first quarter valued at approximately $46,000. GAMMA Investing LLC boosted its stake in Alignment Healthcare by 46.6% during the second quarter. GAMMA Investing LLC now owns 3,368 shares of the company’s stock valued at $80,000 after buying an additional 1,070 shares during the period. Finally, Transamerica Financial Advisors LLC bought a new position in shares of Alignment Healthcare in the second quarter worth approximately $149,000. Institutional investors own 86.19% of the company’s stock.
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.
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