Alignment Healthcare (NASDAQ:ALHC – Get Rating) had its price objective hoisted by The Goldman Sachs Group from $14.00 to $21.00 in a report released on Monday, Stock Target Advisor reports. The firm currently has a buy rating on the stock.
ALHC has been the subject of a number of other reports. Morgan Stanley decreased their price target on Alignment Healthcare from $21.00 to $18.00 and set an overweight rating for the company in a report on Tuesday, June 7th. William Blair reiterated an outperform rating on shares of Alignment Healthcare in a report on Thursday, May 5th. Bank of America upgraded Alignment Healthcare from a neutral rating to a buy rating and decreased their price target for the stock from $18.00 to $14.00 in a report on Thursday, May 26th. Piper Sandler increased their price target on Alignment Healthcare from $15.00 to $20.00 and gave the stock an overweight rating in a report on Friday, August 5th. Finally, Barclays increased their price target on Alignment Healthcare from $14.00 to $21.00 and gave the stock an overweight rating in a report on Monday. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $18.20.
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Alignment Healthcare Price Performance
NASDAQ ALHC opened at $16.10 on Monday. Alignment Healthcare has a twelve month low of $6.14 and a twelve month high of $23.35. The stock has a fifty day simple moving average of $13.28 and a 200 day simple moving average of $10.81. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.74 and a current ratio of 2.74.
Alignment Healthcare (NASDAQ:ALHC – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates 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 quarter in the prior year, the company posted ($0.25) earnings per share. As a group, analysts predict that Alignment Healthcare will post -0.81 earnings per share for the current fiscal year.
Insider Activity at Alignment Healthcare
In related news, 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 transaction, the insider now 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 this hyperlink. In other Alignment Healthcare news, CEO John E. Kao sold 25,752 shares of the stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $13.04, for a total value of $335,806.08. Following the completion of the sale, the chief executive officer now owns 3,539,639 shares in the company, valued at approximately $46,156,892.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Dawn Christine Maroney sold 13,782 shares of the stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $11.10, for a total transaction of $152,980.20. Following the completion of the sale, the insider now owns 1,674,009 shares of the company's stock, valued at approximately $18,581,499.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 272,667 shares of company stock valued at $3,650,395. 5.70% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Alignment Healthcare
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in Alignment Healthcare by 26.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,803 shares of the company's stock valued at $43,000 after buying an additional 803 shares during the last quarter. US Bancorp DE increased its stake in shares of Alignment Healthcare by 15.8% during the 2nd quarter. US Bancorp DE now owns 6,704 shares of the company's stock worth $76,000 after purchasing an additional 914 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Alignment Healthcare by 7.7% during the 1st quarter. Principal Financial Group Inc. now owns 14,524 shares of the company's stock worth $163,000 after purchasing an additional 1,034 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Alignment Healthcare by 10.4% during the 1st quarter. Victory Capital Management Inc. now owns 11,124 shares of the company's stock worth $107,000 after purchasing an additional 1,045 shares during the last quarter. Finally, First Quadrant LLC CA purchased a new stake in shares of Alignment Healthcare during the 1st quarter worth approximately $47,000. Hedge funds and other institutional investors own 82.68% of the company's stock.
Alignment Healthcare Company Profile
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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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