Alignment Healthcare (NASDAQ:ALHC – Get Rating) had its price target upped by Barclays from $14.00 to $21.00 in a report published on Monday, The Fly reports. The firm currently has an overweight rating on the stock.
Other analysts also recently issued reports about the company. Morgan Stanley cut their target price on Alignment Healthcare from $21.00 to $18.00 and set an overweight rating on the stock in a research note on Tuesday, June 7th. Piper Sandler increased their target price on Alignment Healthcare from $15.00 to $20.00 and gave the company an overweight rating in a research note on Friday, August 5th. William Blair reiterated an outperform rating on shares of Alignment Healthcare in a research note on Thursday, May 5th. Finally, Bank of America raised Alignment Healthcare from a neutral rating to a buy rating and lowered their price target for the company from $18.00 to $14.00 in a report on Thursday, May 26th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $18.20.
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Alignment Healthcare Stock Performance
Alignment Healthcare stock opened at $16.50 on Monday. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $3.09 billion, a P/E ratio of -20.12 and a beta of 2.05. The stock's 50 day moving average is $13.19 and its 200 day moving average is $10.75. Alignment Healthcare has a twelve month low of $6.14 and a twelve month high of $23.35.
Alignment Healthcare (NASDAQ:ALHC – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.20. Alignment Healthcare had a negative return on equity of 47.96% and a negative net
margin of 11.20%. During the same period in the prior year, the company posted ($0.25) EPS. On average, equities research analysts predict that Alignment Healthcare will post -1.09 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, insider Dawn Christine Maroney sold 13,782 shares of the firm's stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $11.10, for a total value of $152,980.20. Following the transaction, the insider now directly owns 1,674,009 shares of the company's stock, valued at approximately $18,581,499.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Alignment Healthcare news, CEO John E. Kao sold 49,152 shares of the firm's stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $14.60, for a total transaction of $717,619.20. Following the sale, the chief executive officer now directly owns 3,416,239 shares of the company's stock, valued at $49,877,089.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Dawn Christine Maroney sold 13,782 shares of the firm's stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $11.10, for a total value of $152,980.20. Following the sale, the insider now directly owns 1,674,009 shares in the company, valued at $18,581,499.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 272,667 shares of company stock valued at $3,650,395. 5.70% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC purchased a new position in shares of Alignment Healthcare during the first quarter valued at about $34,000. First Quadrant LLC CA purchased a new position in shares of Alignment Healthcare during the first quarter valued at about $47,000. US Bancorp DE grew its position in shares of Alignment Healthcare by 15.8% during the second quarter. US Bancorp DE now owns 6,704 shares of the company's stock valued at $76,000 after purchasing an additional 914 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Alignment Healthcare during the fourth quarter valued at about $126,000. Finally, Ieq Capital LLC purchased a new position in shares of Alignment Healthcare during the first quarter valued at about $112,000. Hedge funds and other institutional investors own 82.68% of the company's stock.
About Alignment Healthcare
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Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform. It provides customized health care in the United States to seniors and those who need it through its Medicare advantage plans. The company owns Medicare advantage plans in the states of California, North Carolina, and Nevada.
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