Alignment Healthcare (NASDAQ:ALHC) PT Raised to $12.00

Alignment Healthcare (NASDAQ:ALHC) had its target price upped by Stifel Nicolaus from $9.00 to $12.00 in a report released on Friday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Stephens lifted their target price on shares of Alignment Healthcare from $6.00 to $7.00 and gave the company an equal weight rating in a research note on Friday, May 3rd. Piper Sandler raised shares of Alignment Healthcare from a neutral rating to an overweight rating and lifted their target price for the company from $6.00 to $8.00 in a research note on Wednesday, May 8th. Bank of America raised shares of Alignment Healthcare from a neutral rating to a buy rating and lifted their target price for the company from $7.75 to $11.00 in a research note on Thursday, May 30th. Robert W. Baird began coverage on shares of Alignment Healthcare in a research note on Thursday, May 30th. They set an outperform rating and a $10.00 target price for the company. Finally, Baird R W raised shares of Alignment Healthcare to a strong-buy rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $9.44.

Alignment Healthcare Trading Down 4.6 %

Alignment Healthcare stock opened at $8.93 on Friday. The company has a 50 day moving average price of $8.16 and a 200 day moving average price of $6.72. Alignment Healthcare has a 52 week low of $4.46 and a 52 week high of $10.16. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -10.63 and a beta of 1.43.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Alignment Healthcare had a negative return on equity of 91.06% and a negative net margin of 7.81%. The firm had revenue of $628.60 million during the quarter, compared to analyst estimates of $599.75 million. During the same period in the prior year, the business posted ($0.20) EPS. The company’s revenue for the quarter was up 43.1% on a year-over-year basis. Research analysts forecast that Alignment Healthcare will post -0.67 EPS for the current year.

Insider Buying and Selling

In related news, insider Christopher J. Joyce sold 16,000 shares of Alignment Healthcare stock in a transaction on Friday, June 14th. The shares were sold at an average price of $8.01, for a total value of $128,160.00. Following the transaction, the insider now owns 422,912 shares in the company, valued at approximately $3,387,525.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Dawn Christine Maroney sold 20,000 shares of Alignment Healthcare stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $8.21, for a total value of $164,200.00. Following the transaction, the insider now owns 1,956,097 shares in the company, valued at approximately $16,059,556.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher J. Joyce sold 16,000 shares of Alignment Healthcare stock in a transaction on Friday, June 14th. The stock was sold at an average price of $8.01, for a total transaction of $128,160.00. Following the completion of the transaction, the insider now owns 422,912 shares in the company, valued at approximately $3,387,525.12. The disclosure for this sale can be found here. Insiders have sold 225,221 shares of company stock worth $2,142,155 in the last quarter. 6.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its holdings in shares of Alignment Healthcare by 17.9% during the 4th quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock worth $111,000 after purchasing an additional 1,962 shares during the period. Aigen Investment Management LP increased its holdings in shares of Alignment Healthcare by 18.5% during the 4th quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock worth $170,000 after purchasing an additional 3,092 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Alignment Healthcare by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after purchasing an additional 3,334 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Alignment Healthcare by 18.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,289 shares of the company’s stock worth $269,000 after purchasing an additional 4,862 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Alignment Healthcare by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 751,309 shares of the company’s stock worth $6,469,000 after purchasing an additional 10,123 shares during the period. 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.