Alignment Healthcare (NASDAQ:ALHC) Trading Up 6.4% – Time to Buy?

Alignment Healthcare, Inc. (NASDAQ:ALHC) shot up 6.4% during mid-day trading on Tuesday . The stock traded as high as $18.28 and last traded at $18.2550. 4,131,171 shares traded hands during trading, an increase of 22% from the average session volume of 3,393,101 shares. The stock had previously closed at $17.16.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ALHC. UBS Group increased their price target on shares of Alignment Healthcare from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. TD Cowen increased their price objective on shares of Alignment Healthcare from $18.50 to $25.00 and gave the company a “buy” rating in a research report on Friday, January 16th. JPMorgan Chase & Co. boosted their target price on shares of Alignment Healthcare from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Wolfe Research assumed coverage on shares of Alignment Healthcare in a research report on Friday, April 17th. They issued an “outperform” rating and a $24.00 target price for the company. Finally, Wall Street Zen raised shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Alignment Healthcare presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.60.

Alignment Healthcare Trading Up 8.1%

The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 206.67, a price-to-earnings-growth ratio of 2.78 and a beta of 1.26. The firm’s 50 day moving average is $19.17 and its 200 day moving average is $19.47.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. Alignment Healthcare had a net margin of 0.47% and a return on equity of 11.50%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the firm earned ($0.05) EPS. The firm’s quarterly revenue was up 33.3% on a year-over-year basis. Equities analysts forecast that Alignment Healthcare, Inc. will post 0.17 earnings per share for the current year.

Insider Buying and Selling

In other Alignment Healthcare news, CEO John E. Kao sold 82,299 shares of the firm’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $20.80, for a total value of $1,711,819.20. Following the sale, the chief executive officer directly owned 1,806,641 shares in the company, valued at $37,578,132.80. This trade represents a 4.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Andreas P. Wagner sold 11,602 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $18.22, for a total transaction of $211,388.44. Following the completion of the transaction, the insider directly owned 148,628 shares of the company’s stock, valued at approximately $2,708,002.16. This represents a 7.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,271,859 shares of company stock worth $24,536,138. 5.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Alignment Healthcare by 10.9% during the 4th quarter. Vanguard Group Inc. now owns 15,492,802 shares of the company’s stock worth $305,983,000 after buying an additional 1,524,218 shares during the period. Wellington Management Group LLP grew its position in shares of Alignment Healthcare by 26.9% during the 4th quarter. Wellington Management Group LLP now owns 14,070,893 shares of the company’s stock worth $277,900,000 after buying an additional 2,981,166 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of Alignment Healthcare by 0.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,643,784 shares of the company’s stock worth $249,715,000 after buying an additional 79,268 shares during the period. Invesco Ltd. grew its position in shares of Alignment Healthcare by 38.9% during the 4th quarter. Invesco Ltd. now owns 6,202,592 shares of the company’s stock worth $122,501,000 after buying an additional 1,735,962 shares during the period. Finally, 8 Knots Management LLC grew its position in shares of Alignment Healthcare by 6.4% during the 2nd quarter. 8 Knots Management LLC now owns 5,015,881 shares of the company’s stock worth $70,222,000 after buying an additional 300,409 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.