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

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have earned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat Ratings 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 12 month target price among analysts that have covered the stock in the last year is $24.30.

Several research firms have recently commented on ALHC. Zacks Research upgraded Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Wolfe Research started coverage on shares of Alignment Healthcare in a research report on Friday, April 17th. They issued an “outperform” rating and a $24.00 price objective on the stock. Weiss Ratings raised shares of Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. UBS Group boosted their price objective on shares of Alignment Healthcare from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Finally, Raymond James Financial set a $22.00 price objective on shares of Alignment Healthcare in a research report on Thursday, May 7th.

Insider Activity

In other news, CEO John E. Kao sold 298,000 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $20.36, for a total transaction of $6,067,280.00. Following the transaction, the chief executive officer directly owned 1,386,766 shares in the company, valued at $28,234,555.76. The trade was a 17.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Hyong Kim sold 35,951 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $19.86, for a total transaction of $713,986.86. Following the transaction, the insider directly owned 331,750 shares of the company’s stock, valued at $6,588,555. This represents a 9.78% 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. In the last three months, insiders have sold 1,331,051 shares of company stock valued at $26,333,006. 5.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Alignment Healthcare

Large investors have recently modified their holdings of the business. Summit Securities Group LLC acquired a new stake in shares of Alignment Healthcare in the 4th quarter valued at approximately $26,000. Versant Capital Management Inc boosted its stake in shares of Alignment Healthcare by 463.3% in the second quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock valued at $33,000 after buying an additional 1,135 shares in the last quarter. Parallel Advisors LLC grew its holdings in Alignment Healthcare by 87.7% during the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock worth $33,000 after acquiring an additional 773 shares during the period. Larson Financial Group LLC acquired a new position in Alignment Healthcare during the third quarter worth $33,000. Finally, First Horizon Corp purchased a new position in Alignment Healthcare in the fourth quarter worth $39,000. 86.19% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Stock Down 0.9%

ALHC opened at $23.80 on Friday. The business has a 50 day moving average price of $18.96 and a two-hundred day moving average price of $19.71. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.56. The company has a market cap of $4.92 billion, a PE ratio of 264.44, a P/E/G ratio of 3.24 and a beta of 1.05. Alignment Healthcare has a 52 week low of $11.63 and a 52 week high of $24.30.

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 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 during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the firm earned ($0.05) EPS. The firm’s revenue for the quarter was up 33.3% on a year-over-year basis. As a group, research analysts anticipate that Alignment Healthcare will post 0.2 EPS 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.