Alignment Healthcare (ALHC) Scheduled to Post Earnings on Tuesday

Alignment Healthcare (NASDAQ:ALHC) will release its earnings data after the market closes on Tuesday, October 29th. Analysts expect Alignment Healthcare to post earnings of ($0.14) per share for the quarter. Alignment Healthcare has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.01. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The firm had revenue of $681.29 million during the quarter, compared to analysts’ expectations of $637.66 million. During the same period in the prior year, the company posted ($0.15) EPS. The company’s revenue was up 47.3% on a year-over-year basis. On average, analysts expect Alignment Healthcare to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Alignment Healthcare Trading Up 3.8 %

Shares of NASDAQ ALHC opened at $11.04 on Friday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.61 and a current ratio of 1.61. Alignment Healthcare has a 52-week low of $4.46 and a 52-week high of $12.36. The firm has a 50 day moving average price of $10.49 and a two-hundred day moving average price of $8.56. The stock has a market cap of $2.11 billion, a P/E ratio of -13.14 and a beta of 1.47.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ALHC shares. Barclays upped their price objective on shares of Alignment Healthcare from $4.50 to $7.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. TD Cowen upped their price objective on shares of Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $10.00 price objective (up from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. Stifel Nicolaus upped their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Robert W. Baird upped their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.83.

Insider Buying and Selling

In related news, insider Dawn Christine Maroney sold 20,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $8.70, for a total transaction of $174,000.00. Following the transaction, the insider now directly owns 1,796,097 shares of the company’s stock, valued at $15,626,043.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 8,561 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $10.01, for a total transaction of $85,695.61. Following the transaction, the chief financial officer now owns 399,429 shares in the company, valued at approximately $3,998,284.29. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Dawn Christine Maroney sold 20,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $8.70, for a total transaction of $174,000.00. Following the transaction, the insider now owns 1,796,097 shares in the company, valued at approximately $15,626,043.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 314,940 shares of company stock valued at $3,487,014 over the last ninety days. 6.60% of the stock is owned by corporate insiders.

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.