Alignment Healthcare (NASDAQ:ALHC) Price Target Raised to $23.00

Alignment Healthcare (NASDAQ:ALHC) had its price objective hoisted by JPMorgan Chase & Co. from $20.00 to $23.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also issued research reports about the stock. Zacks Research lowered shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. KeyCorp reiterated an “overweight” rating on shares of Alignment Healthcare in a report on Monday, November 24th. Wall Street Zen upgraded Alignment Healthcare from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Barclays boosted their price target on Alignment Healthcare from $13.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Friday, October 31st. Finally, The Goldman Sachs Group restated a “buy” rating and set a $22.00 price objective on shares of Alignment Healthcare in a research note on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.35.

Alignment Healthcare Stock Up 0.0%

Shares of NASDAQ ALHC opened at $20.42 on Wednesday. The stock has a fifty day moving average price of $17.95 and a 200 day moving average price of $16.00. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.99. Alignment Healthcare has a 12-month low of $10.18 and a 12-month high of $21.06. The company has a market cap of $4.09 billion, a P/E ratio of -170.17 and a beta of 1.16.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.02 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 for the quarter, compared to analysts’ expectations of $980.90 million. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. The firm’s quarterly revenue was up 43.5% on a year-over-year basis. Research analysts anticipate that Alignment Healthcare will post -0.69 EPS for the current fiscal year.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, CEO John E. Kao sold 180,000 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $19.02, for a total transaction of $3,423,600.00. Following the transaction, the chief executive officer owned 2,346,726 shares of the company’s stock, valued at $44,634,728.52. This trade represents a 7.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph S. Konowiecki sold 25,000 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $19.00, for a total value of $475,000.00. Following the completion of the transaction, the director owned 1,056,141 shares of the company’s stock, valued at approximately $20,066,679. The trade was a 2.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 842,157 shares of company stock valued at $15,187,475 over the last 90 days. Corporate insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALHC. Integrated Wealth Concepts LLC grew its position in shares of Alignment Healthcare by 6.3% during 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 during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Alignment Healthcare by 2.3% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 37,752 shares of the company’s stock valued at $659,000 after acquiring an additional 844 shares during the period. Tidal Investments LLC grew its holdings in shares of Alignment Healthcare by 4.9% during the second quarter. Tidal Investments LLC now owns 18,094 shares of the company’s stock valued at $253,000 after purchasing an additional 852 shares during the last quarter. Jefferies Financial Group Inc. raised its position in shares of Alignment Healthcare by 4.3% during the 3rd quarter. Jefferies Financial Group Inc. now owns 24,359 shares of the company’s stock worth $425,000 after purchasing an additional 1,014 shares during the period. Finally, Ballentine Partners LLC lifted its holdings in shares of Alignment Healthcare by 10.2% in the 2nd quarter. Ballentine Partners LLC now owns 12,862 shares of the company’s stock worth $180,000 after purchasing an additional 1,188 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors.

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.