Alignment Healthcare (NASDAQ:ALHC) Issues Earnings Results, Hits Expectations

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

Alignment Healthcare Trading Up 0.2 %

Alignment Healthcare stock opened at $11.73 on Thursday. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $12.36. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -15.23 and a beta of 1.47. The business’s fifty day simple moving average is $10.67 and its two-hundred day simple moving average is $8.71. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.70.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Piper Sandler restated an “overweight” rating and set a $10.00 price target (up previously from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. TD Cowen upped their target price on Alignment Healthcare to $10.00 and gave the company a “buy” rating in a report on Wednesday. KeyCorp assumed coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They issued a “sector weight” rating on the stock. UBS Group upped their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Stifel Nicolaus lifted their target price 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $10.33.

Insider Transactions at Alignment Healthcare

In related news, insider Dawn Christine Maroney sold 30,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $10.77, for a total transaction of $323,100.00. Following the sale, the insider now directly owns 1,726,097 shares of the company’s stock, valued at approximately $18,590,064.69. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Alignment Healthcare news, insider Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $10.77, for a total value of $323,100.00. Following the completion of the sale, the insider now owns 1,726,097 shares of the company’s stock, valued at approximately $18,590,064.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Hakan Kardes sold 25,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $11.48, for a total value of $287,000.00. Following the transaction, the insider now directly owns 380,444 shares in the company, valued at approximately $4,367,497.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 314,940 shares of company stock valued at $3,487,014 in the last quarter. 6.60% of the stock is owned by 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.