Alignment Healthcare (NASDAQ:ALHC) Hits New 52-Week High – Still a Buy?

Alignment Healthcare, Inc. (NASDAQ:ALHC) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $23.96 and last traded at $23.9050, with a volume of 966881 shares trading hands. The stock had previously closed at $23.26.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wolfe Research initiated coverage on shares of Alignment Healthcare in a report on Friday, April 17th. They set an “outperform” rating and a $24.00 price objective for the company. Raymond James Financial set a $22.00 price target on Alignment Healthcare in a research note on Thursday, May 7th. KeyCorp restated an “overweight” rating on shares of Alignment Healthcare in a report on Wednesday, June 10th. Barclays reduced their price objective on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 26th. Finally, UBS Group upped their price objective on Alignment Healthcare from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.30.

Alignment Healthcare Price Performance

The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $5.01 billion, a PE ratio of 268.99, a price-to-earnings-growth ratio of 3.21 and a beta of 1.04. The stock’s 50-day moving average is $18.91 and its two-hundred day moving average is $19.67.

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

Insiders Place Their Bets

In other news, CEO John E. Kao sold 298,000 shares of Alignment Healthcare stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $20.36, for a total transaction of $6,067,280.00. Following the completion of the sale, the chief executive officer directly owned 1,386,766 shares in the company, valued at approximately $28,234,555.76. This trade represents a 17.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Dawn Christine Maroney sold 30,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $19.55, for a total transaction of $586,500.00. Following the sale, the president directly owned 947,313 shares of the company’s stock, valued at $18,519,969.15. This represents a 3.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,331,051 shares of company stock worth $26,333,006 in the last 90 days. 5.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its position in Alignment Healthcare by 92.6% in the 1st quarter. Royal Bank of Canada now owns 92,379 shares of the company’s stock valued at $1,720,000 after buying an additional 44,413 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Alignment Healthcare by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,557 shares of the company’s stock worth $1,109,000 after purchasing an additional 2,594 shares during the period. Goldman Sachs Group Inc. raised its position in Alignment Healthcare by 79.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 972,715 shares of the company’s stock valued at $18,112,000 after purchasing an additional 429,703 shares in the last quarter. Woodline Partners LP bought a new stake in Alignment Healthcare during the 1st quarter valued at $2,142,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Alignment Healthcare by 16.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 307,655 shares of the company’s stock worth $5,729,000 after buying an additional 44,452 shares during the period. Hedge funds and other institutional investors 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.