Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $24.30 Consensus PT from Analysts

Alignment Healthcare, Inc. (NASDAQ:ALHC) has received a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $24.30.

Several research analysts have weighed in on the company. Zacks Research upgraded Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Wolfe Research assumed coverage on Alignment Healthcare in a research report on Friday, April 17th. They set an “outperform” rating and a $24.00 price objective on the stock. KeyCorp reiterated an “overweight” rating on shares of Alignment Healthcare in a research report on Wednesday. Raymond James Financial set a $22.00 price target on Alignment Healthcare in a research report on Thursday, May 7th. Finally, Barclays decreased their price target on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 26th.

Insiders Place Their Bets

In related news, CEO John E. Kao sold 298,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $16.89, for a total value of $5,033,220.00. Following the transaction, the chief executive officer owned 1,508,641 shares in the company, valued at approximately $25,480,946.49. This trade represents a 16.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Dawn Christine Maroney sold 36,749 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $17.84, for a total value of $655,602.16. Following the completion of the transaction, the president owned 1,058,813 shares in the company, valued at $18,889,223.92. The trade was a 3.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,554,685 shares of company stock worth $29,876,743 in the last 90 days. 5.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Allworth Financial LP grew its position in Alignment Healthcare by 8.9% in the fourth quarter. Allworth Financial LP now owns 6,917 shares of the company’s stock valued at $137,000 after acquiring an additional 566 shares during the last quarter. State of Alaska Department of Revenue grew its position in 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 valued at $223,000 after acquiring an additional 636 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in Alignment Healthcare by 6.3% in the third quarter. Integrated Wealth Concepts LLC now owns 11,230 shares of the company’s stock valued at $196,000 after acquiring an additional 665 shares during the last quarter. Parallel Advisors LLC grew its position in Alignment Healthcare by 87.7% in the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock valued at $33,000 after acquiring an additional 773 shares during the last quarter. Finally, Tidal Investments LLC grew its position in Alignment Healthcare by 4.9% in the second quarter. Tidal Investments LLC now owns 18,094 shares of the company’s stock valued at $253,000 after acquiring an additional 852 shares during the last quarter. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Price Performance

ALHC stock opened at $19.75 on Monday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.58 and a quick ratio of 1.58. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 219.44, a PEG ratio of 2.67 and a beta of 1.14. The business’s fifty day moving average price is $18.53 and its two-hundred day moving average price is $19.41. Alignment Healthcare has a fifty-two week low of $11.63 and a fifty-two week high of $23.87.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The company’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) EPS. On average, equities analysts anticipate that Alignment Healthcare will post 0.2 earnings per share for the current year.

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.