Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $24.56 Consensus Target Price from Brokerages

Alignment Healthcare, Inc. (NASDAQ:ALHC) has been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $24.5556.

A number of research analysts have commented on the company. KeyCorp reaffirmed an “overweight” rating and set a $28.00 price target on shares of Alignment Healthcare in a research report on Thursday, January 22nd. JPMorgan Chase & Co. boosted their target price on Alignment Healthcare from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Piper Sandler upped their target price on Alignment Healthcare from $20.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, January 6th. Wall Street Zen lowered Alignment Healthcare from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, UBS Group lifted 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.

Alignment Healthcare Price Performance

ALHC stock opened at $17.62 on Wednesday. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of -1,760.24, a PEG ratio of 2.46 and a beta of 1.18. The firm’s 50-day moving average price is $19.77 and its two-hundred day moving average price is $18.87. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 1.80. Alignment Healthcare has a 12-month low of $11.63 and a 12-month high of $23.87.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Thursday, February 26th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.10. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Alignment Healthcare had a negative net margin of 0.02% and a negative return on equity of 0.49%. Alignment Healthcare’s revenue for the quarter was up 44.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.16) earnings per share. As a group, equities analysts predict that Alignment Healthcare will post -0.69 earnings per share for the current year.

Insider Transactions at Alignment Healthcare

In related news, COO Sebastian Burzacchi sold 15,361 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $17.84, for a total value of $274,040.24. Following the completion of the transaction, the chief operating officer directly owned 258,630 shares of the company’s stock, valued at $4,613,959.20. This represents a 5.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert L. Scavo sold 11,285 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $17.84, for a total transaction of $201,324.40. Following the completion of the sale, the insider owned 487,685 shares of the company’s stock, valued at $8,700,300.40. This trade represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,432,253 shares of company stock worth $27,993,403. 6.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Allworth Financial LP increased its stake in Alignment Healthcare by 8.9% during the 4th quarter. Allworth Financial LP now owns 6,917 shares of the company’s stock valued at $137,000 after purchasing an additional 566 shares in the last quarter. State of Alaska Department of Revenue lifted its stake 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 worth $223,000 after buying an additional 636 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of Alignment Healthcare by 6.3% in the third quarter. Integrated Wealth Concepts LLC now owns 11,230 shares of the company’s stock worth $196,000 after buying an additional 665 shares in the last quarter. 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. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of Alignment Healthcare by 2.3% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 37,752 shares of the company’s stock valued at $659,000 after buying an additional 844 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

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.