Analysts Set Alignment Healthcare, Inc. (NASDAQ:ALHC) Price Target at $11.88

Alignment Healthcare, Inc. (NASDAQ:ALHC) has been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $11.88.

ALHC has been the topic of several recent analyst reports. Stifel Nicolaus boosted their target price on shares of Alignment Healthcare from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Barclays upped their price objective on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Wednesday, October 30th. Stephens reiterated an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a report on Thursday, January 2nd. KeyCorp assumed coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They set a “sector weight” rating on the stock. Finally, UBS Group upped their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th.

Insider Transactions at Alignment Healthcare

In other news, insider Hakan Kardes sold 14,500 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $14.98, for a total transaction of $217,210.00. Following the completion of the sale, the insider now directly owns 295,444 shares of the company’s stock, valued at $4,425,751.12. The trade was a 4.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph S. Konowiecki sold 6,920 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $13.73, for a total transaction of $95,011.60. Following the sale, the director now directly owns 1,134,888 shares of the company’s stock, valued at approximately $15,582,012.24. The trade was a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 519,044 shares of company stock valued at $6,634,832 over the last three months. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

A number of institutional investors have recently added to or reduced their stakes in the company. Deerfield Management Company L.P. Series C grew its position in Alignment Healthcare by 31.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after purchasing an additional 2,630,788 shares in the last quarter. Geode Capital Management LLC grew its position in Alignment Healthcare by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,442,447 shares of the company’s stock worth $28,875,000 after purchasing an additional 32,839 shares in the last quarter. State Street Corp grew its position in Alignment Healthcare by 0.9% in the 3rd quarter. State Street Corp now owns 2,252,287 shares of the company’s stock worth $26,622,000 after purchasing an additional 20,731 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Alignment Healthcare by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 839,695 shares of the company’s stock worth $9,925,000 after purchasing an additional 13,865 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Alignment Healthcare by 1,672.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 656,637 shares of the company’s stock worth $7,591,000 after purchasing an additional 619,592 shares in the last quarter. 86.19% of the stock is owned by institutional investors.

Alignment Healthcare Price Performance

ALHC stock opened at $15.20 on Friday. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of -19.74 and a beta of 1.45. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare has a 12-month low of $4.46 and a 12-month high of $15.82. The company’s fifty day simple moving average is $12.43 and its 200 day simple moving average is $11.19.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.14). The business had revenue of $692.43 million for the quarter, compared to analyst estimates of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. Alignment Healthcare’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.19) earnings per share. On average, analysts expect that Alignment Healthcare will post -0.69 earnings per share for the current year.

Alignment Healthcare Company Profile

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.