Analysts Set Alignment Healthcare, Inc. (NASDAQ:ALHC) Price Target at $17.17

Alignment Healthcare, Inc. (NASDAQ:ALHCGet Free Report) has earned an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $17.17.

A number of equities analysts have recently issued reports on ALHC shares. Barclays raised their price objective on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, February 28th. Bank of America raised their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Robert W. Baird raised their price objective on Alignment Healthcare from $17.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. raised their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Finally, William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th.

View Our Latest Stock Analysis on Alignment Healthcare

Alignment Healthcare Price Performance

Alignment Healthcare stock opened at $13.70 on Monday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.95. The company has a market capitalization of $2.71 billion, a PE ratio of -28.54 and a beta of 1.22. Alignment Healthcare has a 12 month low of $7.19 and a 12 month high of $21.06. The stock has a 50-day moving average price of $15.57 and a two-hundred day moving average price of $15.00.

Alignment Healthcare (NASDAQ:ALHCGet Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.07. The firm had revenue of $926.93 million during the quarter, compared to the consensus estimate of $889.83 million. Alignment Healthcare had a negative return on equity of 80.49% and a negative net margin of 3.02%. The business’s quarterly revenue was up 47.5% on a year-over-year basis. During the same period last year, the company earned ($0.25) earnings per share. Analysts expect that Alignment Healthcare will post -0.69 EPS for the current year.

Insiders Place Their Bets

In other news, President Dawn Christine Maroney sold 230,000 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $19.10, for a total transaction of $4,393,000.00. Following the completion of the sale, the president now owns 2,132,899 shares in the company, valued at $40,738,370.90. The trade was a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christopher J. Joyce sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $18.47, for a total value of $461,750.00. Following the sale, the insider now owns 415,022 shares of the company’s stock, valued at approximately $7,665,456.34. This represents a 5.68% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,820,262 shares of company stock worth $273,442,246. 7.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alignment Healthcare

Hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE increased its holdings in shares of Alignment Healthcare by 6,544.2% during the fourth quarter. US Bancorp DE now owns 98,932 shares of the company’s stock valued at $1,113,000 after acquiring an additional 97,443 shares in the last quarter. Northern Trust Corp boosted its position in shares of Alignment Healthcare by 8.6% during the fourth quarter. Northern Trust Corp now owns 908,964 shares of the company’s stock valued at $10,226,000 after buying an additional 72,063 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Alignment Healthcare by 3,216.9% during the first quarter. GAMMA Investing LLC now owns 23,815 shares of the company’s stock valued at $443,000 after buying an additional 23,097 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of Alignment Healthcare during the fourth quarter valued at approximately $732,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Alignment Healthcare during the fourth quarter valued at approximately $184,000. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Company Profile

(Get Free Report

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.

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Analyst Recommendations for Alignment Healthcare (NASDAQ:ALHC)

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