Alignment Healthcare (NASDAQ:ALHC) Price Target Raised to $12.00

Alignment Healthcare (NASDAQ:ALHC) had its price target lifted by UBS Group from $9.00 to $12.00 in a research report sent to investors on Wednesday, Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other research analysts also recently issued reports on ALHC. KeyCorp started coverage on Alignment Healthcare in a report on Friday, October 11th. They set a “sector weight” rating on the stock. Stifel Nicolaus boosted their price target on Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a report on Friday, July 26th. Barclays boosted their price target on Alignment Healthcare from $4.50 to $7.00 and gave the company an “underweight” rating in a report on Monday, August 5th. Piper Sandler reaffirmed an “overweight” rating and set a $10.00 price objective (up from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. Finally, Robert W. Baird lifted their price objective on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.33.

Alignment Healthcare Stock Performance

NASDAQ ALHC opened at $12.95 on Wednesday. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -16.82 and a beta of 1.47. The company has a 50-day simple moving average of $10.82 and a two-hundred day simple moving average of $8.79. The company has a quick ratio of 1.61, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare has a 12-month low of $4.46 and a 12-month high of $12.99.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). The firm had revenue of $692.43 million for the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The company’s quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.19) earnings per share. On average, equities analysts forecast that Alignment Healthcare will post -0.68 EPS for the current year.

Insider Transactions at Alignment Healthcare

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

Hedge Funds Weigh In On Alignment Healthcare

A number of hedge funds have recently added to or reduced their stakes in ALHC. Allspring Global Investments Holdings LLC raised its holdings in Alignment Healthcare by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after acquiring an additional 3,334 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Alignment Healthcare in the 1st quarter worth approximately $57,000. Blue Trust Inc. raised its holdings in Alignment Healthcare by 47.4% in the 1st quarter. Blue Trust Inc. now owns 256,452 shares of the company’s stock worth $1,272,000 after acquiring an additional 82,476 shares during the last quarter. Vanguard Group Inc. raised its holdings in Alignment Healthcare by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock worth $45,828,000 after acquiring an additional 93,262 shares during the last quarter. Finally, Hood River Capital Management LLC raised its stake in Alignment Healthcare by 49.6% during the 1st quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock valued at $14,487,000 after buying an additional 968,637 shares during the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

About Alignment Healthcare

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.