Leerink Partnrs Has Strong Forecast for ALHC FY2024 Earnings

Alignment Healthcare, Inc. (NASDAQ:ALHC) – Equities research analysts at Leerink Partnrs lifted their FY2024 earnings estimates for shares of Alignment Healthcare in a research report issued to clients and investors on Wednesday, October 30th. Leerink Partnrs analyst W. Mayo now anticipates that the company will post earnings per share of ($0.72) for the year, up from their prior forecast of ($0.76). The consensus estimate for Alignment Healthcare’s current full-year earnings is ($0.68) per share. Leerink Partnrs also issued estimates for Alignment Healthcare’s Q4 2024 earnings at ($0.21) EPS, Q1 2025 earnings at ($0.19) EPS, Q2 2025 earnings at ($0.03) EPS, Q3 2025 earnings at ($0.03) EPS, FY2025 earnings at ($0.41) EPS, FY2026 earnings at ($0.10) EPS, FY2027 earnings at $0.29 EPS and FY2028 earnings at $0.74 EPS.

A number of other research analysts have also weighed in on ALHC. UBS Group raised their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday. TD Cowen raised their price target on Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Barclays raised their price target on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Wednesday. KeyCorp initiated coverage on Alignment Healthcare in a research report on Friday, October 11th. They issued a “sector weight” rating for the company. Finally, Piper Sandler restated an “overweight” rating and issued a $10.00 price target (up from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $10.33.

Alignment Healthcare Trading Up 4.4 %

ALHC stock opened at $12.95 on Friday. The firm has a fifty day moving average price of $10.82 and a 200 day moving average price of $8.79. Alignment Healthcare has a fifty-two week low of $4.46 and a fifty-two week high of $12.99. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.61 and a current ratio of 1.60. The firm has a market cap of $2.48 billion, a PE ratio of -16.82 and a beta of 1.47.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.14). Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The firm had revenue of $692.43 million during the quarter, compared to analyst estimates of $662.11 million. During the same period last year, the firm posted ($0.19) earnings per share. Alignment Healthcare’s revenue for the quarter was up 51.6% compared to the same quarter last year.

Insider Transactions at Alignment Healthcare

In other news, CFO Robert Thomas Freeman sold 36,197 shares of Alignment Healthcare stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $12.04, for a total transaction of $435,811.88. Following the completion of the sale, the chief financial officer now directly owns 123,429 shares in the company, valued at approximately $1,486,085.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Dawn Christine Maroney sold 7,074 shares of Alignment Healthcare stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $9.02, for a total value of $63,807.48. Following the completion of the sale, the insider now directly owns 1,789,023 shares in the company, valued at $16,136,987.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Robert Thomas Freeman sold 36,197 shares of Alignment Healthcare stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $12.04, for a total value of $435,811.88. Following the completion of the sale, the chief financial officer now owns 123,429 shares of the company’s stock, valued at $1,486,085.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 354,287 shares of company stock worth $3,964,670. 6.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALHC. Principal Financial Group Inc. purchased a new position in Alignment Healthcare in the first quarter valued at about $57,000. Virtu Financial LLC purchased a new position in Alignment Healthcare in the first quarter valued at about $57,000. nVerses Capital LLC purchased a new position in Alignment Healthcare in the third quarter valued at about $95,000. Creative Planning grew its stake in Alignment Healthcare by 20.0% in the third quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after purchasing an additional 2,072 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Alignment Healthcare by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock valued at $196,000 after purchasing an additional 3,334 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

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.