Alignment Healthcare (NASDAQ:ALHC) Releases Quarterly Earnings Results, Meets Estimates

Alignment Healthcare (NASDAQ:ALHC) issued its quarterly earnings data on Tuesday. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.14), Briefing.com reports. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The business had revenue of $692.43 million during the quarter, compared to analyst estimates of $662.11 million. During the same period in the previous year, the firm earned ($0.19) EPS. Alignment Healthcare’s quarterly revenue was up 51.6% compared to the same quarter last year. Alignment Healthcare updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Alignment Healthcare Stock Down 1.7 %

Shares of Alignment Healthcare stock traded down $0.20 on Wednesday, reaching $11.51. 329,002 shares of the company were exchanged, compared to its average volume of 1,010,891. Alignment Healthcare has a one year low of $4.46 and a one year high of $12.36. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -13.76 and a beta of 1.47. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.70. The company has a 50-day moving average of $10.62 and a 200 day moving average of $8.69.

Analysts Set New Price Targets

ALHC has been the subject of several research analyst reports. Barclays boosted their price objective on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Wednesday. TD Cowen boosted their price objective on Alignment Healthcare to $10.00 and gave the company a “buy” rating in a research report on Wednesday. KeyCorp initiated coverage on Alignment Healthcare in a research report on Friday, October 11th. They set a “sector weight” rating for the company. Stifel Nicolaus upped their price target on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, UBS Group upped their price target on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $10.33.

Insider Transactions at Alignment Healthcare

In other news, insider Dawn Christine Maroney sold 7,074 shares of the company’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 sale, the insider now owns 1,789,023 shares in the company, valued at $16,136,987.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Dawn Christine Maroney sold 7,074 shares of the stock in a transaction 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 owns 1,789,023 shares in the company, valued at approximately $16,136,987.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Thomas Freeman sold 8,561 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $10.01, for a total value of $85,695.61. Following the completion of the sale, the chief financial officer now owns 399,429 shares in the company, valued at approximately $3,998,284.29. This trade represents 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 worth $3,487,014 in the last 90 days. Corporate insiders own 6.60% of the company’s stock.

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.