Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have earned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $21.25.

Several research firms have commented on ALHC. KeyCorp reissued an “overweight” rating on shares of Alignment Healthcare in a research report on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alignment Healthcare in a research note on Wednesday, October 8th. Barclays upped their price objective on shares of Alignment Healthcare from $13.00 to $18.00 and gave the stock an “equal weight” rating in a report on Friday, October 31st. The Goldman Sachs Group reissued a “buy” rating and set a $22.00 target price on shares of Alignment Healthcare in a research report on Monday, November 3rd. Finally, JPMorgan Chase & Co. boosted their price target on Alignment Healthcare from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 17th.

Alignment Healthcare Stock Up 0.1%

ALHC opened at $20.95 on Friday. Alignment Healthcare has a fifty-two week low of $11.63 and a fifty-two week high of $21.65. The business has a 50-day moving average of $18.63 and a 200-day moving average of $16.49. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.61 and a quick ratio of 1.61. The company has a market capitalization of $4.19 billion, a PE ratio of -174.58, a price-to-earnings-growth ratio of 6.01 and a beta of 1.16.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.02 EPS for the quarter, beating the consensus estimate 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 business had revenue of $993.70 million during the quarter, compared to analysts’ expectations of $980.90 million. During the same quarter in the previous year, the business posted ($0.14) EPS. The firm’s quarterly revenue was up 43.5% compared to the same quarter last year. Equities research analysts forecast that Alignment Healthcare will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Robert L. Scavo sold 69,541 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $18.74, for a total value of $1,303,198.34. Following the completion of the sale, the insider directly owned 503,014 shares in the company, valued at approximately $9,426,482.36. The trade was a 12.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Dawn Christine Maroney sold 282,070 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $18.74, for a total value of $5,285,991.80. Following the transaction, the president owned 1,385,167 shares in the company, valued at approximately $25,958,029.58. This trade represents a 16.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,918,532 shares of company stock valued at $36,505,338 over the last 90 days. 7.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Alignment Healthcare by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 13,968,584 shares of the company’s stock worth $243,752,000 after acquiring an additional 664,769 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Alignment Healthcare by 167.3% in the third quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company’s stock worth $193,516,000 after purchasing an additional 6,940,277 shares during the period. Hood River Capital Management LLC increased its stake in shares of Alignment Healthcare by 6.0% in the second quarter. Hood River Capital Management LLC now owns 5,517,336 shares of the company’s stock worth $77,243,000 after purchasing an additional 311,424 shares during the period. 8 Knots Management LLC lifted 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 purchasing an additional 300,409 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Alignment Healthcare by 7.1% during the 3rd quarter. Invesco Ltd. now owns 4,466,630 shares of the company’s stock valued at $77,943,000 after purchasing an additional 296,101 shares during the period. 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.