Alignment Healthcare (NASDAQ:ALHC) PT Lowered to $9.00

Alignment Healthcare (NASDAQ:ALHC) had its price objective reduced by Stifel Nicolaus from $11.00 to $9.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 73.75% from the company’s previous close.

Several other equities analysts have also issued reports on the stock. Raymond James lifted their price objective on shares of Alignment Healthcare from $10.00 to $12.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 9th. Piper Sandler reissued a “neutral” rating and set a $6.00 price objective (down from $12.00) on shares of Alignment Healthcare in a report on Wednesday, March 6th. Barclays initiated coverage on shares of Alignment Healthcare in a report on Wednesday, March 6th. They set an “underweight” rating and a $4.50 price objective on the stock. UBS Group cut their price objective on shares of Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Finally, William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.18.

Alignment Healthcare Stock Performance

Alignment Healthcare stock opened at $5.18 on Tuesday. The company has a 50 day moving average price of $5.28 and a 200-day moving average price of $6.62. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.84 and a current ratio of 1.84. Alignment Healthcare has a fifty-two week low of $4.46 and a fifty-two week high of $9.20. The company has a market capitalization of $978.92 million, a PE ratio of -6.56 and a beta of 1.30.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The business had revenue of $465.39 million for the quarter, compared to analysts’ expectations of $444.56 million. Alignment Healthcare had a negative net margin of 8.12% and a negative return on equity of 75.64%. The business’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.31) earnings per share. As a group, equities analysts forecast that Alignment Healthcare will post -0.59 earnings per share for the current year.

Insider Activity

In other news, CFO Robert Thomas Freeman sold 11,858 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $4.89, for a total transaction of $57,985.62. Following the sale, the chief financial officer now directly owns 898,228 shares of the company’s stock, valued at $4,392,334.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Alignment Healthcare news, CEO John E. Kao bought 103,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average cost of $4.82 per share, for a total transaction of $496,460.00. Following the completion of the transaction, the chief executive officer now directly owns 2,745,253 shares of the company’s stock, valued at approximately $13,232,119.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Thomas Freeman sold 11,858 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $4.89, for a total transaction of $57,985.62. Following the transaction, the chief financial officer now owns 898,228 shares of the company’s stock, valued at $4,392,334.92. The disclosure for this sale can be found here. Insiders have sold 90,213 shares of company stock valued at $460,587 over the last ninety days. 6.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Alignment Healthcare by 3.7% during the third quarter. Vanguard Group Inc. now owns 9,121,432 shares of the company’s stock valued at $63,303,000 after purchasing an additional 322,661 shares during the period. Deerfield Management Company L.P. Series C raised its position in shares of Alignment Healthcare by 49.1% in the third quarter. Deerfield Management Company L.P. Series C now owns 2,747,015 shares of the company’s stock worth $19,064,000 after acquiring an additional 905,015 shares during the period. William Blair Investment Management LLC raised its position in shares of Alignment Healthcare by 39.7% in the third quarter. William Blair Investment Management LLC now owns 1,913,459 shares of the company’s stock worth $13,279,000 after acquiring an additional 544,196 shares during the period. Rhenman & Partners Asset Management AB raised its position in shares of Alignment Healthcare by 20.0% in the third quarter. Rhenman & Partners Asset Management AB now owns 1,200,000 shares of the company’s stock worth $8,328,000 after acquiring an additional 200,000 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Alignment Healthcare by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 751,309 shares of the company’s stock worth $6,469,000 after acquiring an additional 10,123 shares during the period. 86.19% of the stock is currently owned by institutional investors and hedge funds.

About Alignment Healthcare

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.