Alignment Healthcare, Inc. (NASDAQ:ALHC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Alignment Healthcare, Inc. (NASDAQ:ALHC) has been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $24.30.

Several equities research analysts recently issued reports on the company. UBS Group boosted their price objective on Alignment Healthcare from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Zacks Research upgraded Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Wolfe Research started coverage on Alignment Healthcare in a research report on Friday, April 17th. They issued an “outperform” rating and a $24.00 target price for the company. Barclays cut their price target on shares of 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, Wall Street Zen raised shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th.

Alignment Healthcare Price Performance

Alignment Healthcare stock opened at $15.37 on Monday. Alignment Healthcare has a fifty-two week low of $11.63 and a fifty-two week high of $23.87. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.58 and a current ratio of 1.58. The firm has a 50 day moving average price of $18.34 and a 200 day moving average price of $19.33. The company has a market capitalization of $3.18 billion, a PE ratio of 170.78, a price-to-earnings-growth ratio of 2.08 and a beta of 1.14.

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

Insider Activity

In other Alignment Healthcare news, insider Mark D. Kent bought 14,848 shares of Alignment Healthcare stock in a transaction on Tuesday, June 2nd. The shares were bought at an average cost of $13.31 per share, for a total transaction of $197,626.88. Following the acquisition, the insider directly owned 14,848 shares in the company, valued at $197,626.88. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christopher J. Joyce sold 18,013 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $17.79, for a total transaction of $320,451.27. Following the completion of the transaction, the insider directly owned 305,451 shares of the company’s stock, valued at $5,433,973.29. This represents a 5.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,548,741 shares of company stock worth $29,039,941 over the last 90 days. Company insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in 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 purchasing an additional 1,524,218 shares during the period. Wellington Management Group LLP boosted its stake in shares of Alignment Healthcare by 26.9% in the 4th quarter. Wellington Management Group LLP now owns 14,070,893 shares of the company’s stock valued at $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 fourth 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 in the last quarter. Invesco Ltd. grew its position in shares of Alignment Healthcare by 38.9% during the fourth 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 in the last quarter. Finally, 8 Knots Management LLC increased its stake in shares of Alignment Healthcare by 6.4% during the second 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. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Company Profile

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.