Alignment Healthcare (NASDAQ:ALHC) Price Target Raised to $26.00

Alignment Healthcare (NASDAQ:ALHC) had its price target hoisted by JPMorgan Chase & Co. from $23.00 to $26.00 in a research report released on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other equities analysts also recently weighed in on the company. UBS Group raised their price target on Alignment Healthcare from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. TD Cowen lifted their price objective on Alignment Healthcare from $18.50 to $25.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Wall Street Zen downgraded shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alignment Healthcare in a research note on Wednesday, January 21st. Finally, Barclays lifted their price target 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. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.32.

Alignment Healthcare Trading Up 2.8%

NASDAQ ALHC opened at $21.75 on Thursday. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.61 and a quick ratio of 1.61. Alignment Healthcare has a 12 month low of $11.63 and a 12 month high of $23.87. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of -181.25, a price-to-earnings-growth ratio of 5.73 and a beta of 1.16. The firm’s fifty day moving average price is $20.79 and its 200 day moving average price is $17.80.

Insider Activity

In related news, CEO John E. Kao sold 605,648 shares of the firm’s 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 $11,349,843.52. Following the sale, the chief executive officer directly owned 2,234,294 shares of the company’s stock, valued at approximately $41,870,669.56. This trade represents a 21.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert L. Scavo sold 69,541 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $18.74, for a total transaction of $1,303,198.34. Following the completion of the sale, the insider owned 503,014 shares of the company’s stock, valued at approximately $9,426,482.36. The trade was a 12.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,103,532 shares of company stock valued at $40,529,538 in the last 90 days. 7.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Teacher Retirement System of Texas grew its holdings in shares of Alignment Healthcare by 85.8% during the third quarter. Teacher Retirement System of Texas now owns 102,827 shares of the company’s stock valued at $1,794,000 after purchasing an additional 47,472 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Alignment Healthcare in the third quarter valued at $3,499,000. Inspire Investing LLC bought a new position in shares of Alignment Healthcare during the third quarter worth about $1,129,000. Ameritas Investment Partners Inc. grew its position in shares of Alignment Healthcare by 32.9% during the second quarter. Ameritas Investment Partners Inc. now owns 13,031 shares of the company’s stock worth $182,000 after acquiring an additional 3,225 shares during the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of Alignment Healthcare by 28.7% in the 2nd quarter. Schroder Investment Management Group now owns 248,163 shares of the company’s stock worth $3,437,000 after acquiring an additional 55,314 shares during the period. 86.19% of the stock is owned by hedge funds and other institutional investors.

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.