Alignment Healthcare (NASDAQ:ALHC – Get Rating) had its target price hoisted by equities research analysts at Morgan Stanley from $18.00 to $19.00 in a research note issued on Wednesday, Stock Target Advisor reports. The firm currently has an "overweight" rating on the stock. Morgan Stanley's target price would suggest a potential upside of 18.01% from the stock's previous close.
Several other equities research analysts have also recently weighed in on ALHC. UBS Group upped their target price on Alignment Healthcare from $11.00 to $17.00 and gave the stock a "neutral" rating in a report on Monday. William Blair reiterated an "outperform" rating on shares of Alignment Healthcare in a report on Thursday, May 5th. The Goldman Sachs Group upped their target price on Alignment Healthcare from $14.00 to $21.00 and gave the stock a "buy" rating in a report on Monday. Barclays upped their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, Bank of America raised Alignment Healthcare from a "neutral" rating to a "buy" rating and reduced their target price for the company from $18.00 to $14.00 in a research report on Thursday, May 26th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, Alignment Healthcare currently has an average rating of "Moderate Buy" and an average price target of $18.20.
Get Alignment Healthcare alerts:Alignment Healthcare Stock Performance
Shares of Alignment Healthcare stock opened at $16.10 on Wednesday. The stock's fifty day moving average is $13.28 and its two-hundred day moving average is $10.81. The company has a market capitalization of $3.01 billion, a PE ratio of -19.63 and a beta of 2.05. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.52. Alignment Healthcare has a 52 week low of $6.14 and a 52 week high of $23.35.
Alignment Healthcare (NASDAQ:ALHC – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.06) EPS for the quarter, beating 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 firm posted ($0.25) EPS. As a group, analysts expect that Alignment Healthcare will post -0.81 earnings per share for the current year.Insider Transactions at Alignment Healthcare
In other 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 completion of the sale, the chief executive officer now directly owns 3,416,239 shares in the company, valued at $49,877,089.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alignment Healthcare news, CEO John E. Kao sold 49,152 shares of Alignment Healthcare stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $14.60, for a total value of $717,619.20. Following the transaction, the chief executive officer now owns 3,416,239 shares in the company, valued at $49,877,089.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Robert Thomas Freeman sold 24,000 shares of Alignment Healthcare stock in a transaction on Monday, August 1st. The shares were sold at an average price of $14.50, for a total transaction of $348,000.00. Following the sale, the chief financial officer now directly owns 659,939 shares of the company's stock, valued at approximately $9,569,115.50. The disclosure for this sale can be found here. Insiders sold a total of 272,667 shares of company stock worth $3,650,395 in the last ninety days. Insiders own 5.70% of the company's stock.
Institutional Investors Weigh In On Alignment Healthcare
Several large investors have recently bought and sold shares of ALHC. Inspire Investing LLC bought a new position in Alignment Healthcare in the 1st quarter valued at about $235,000. Fortem Financial Group LLC bought a new stake in Alignment Healthcare during the 1st quarter valued at $1,692,000. Nisa Investment Advisors LLC bought a new stake in shares of Alignment Healthcare in the 1st quarter worth $34,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Alignment Healthcare in the 4th quarter worth $391,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Alignment Healthcare during the fourth quarter valued at about $126,000. Institutional investors own 82.68% of the company's stock.
Alignment Healthcare Company Profile
(Get Rating)
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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