Stifel Nicolaus Trims Alignment Healthcare (NASDAQ:ALHC) Target Price to $9.00

Alignment Healthcare (NASDAQ:ALHC) had its price target reduced by Stifel Nicolaus from $11.00 to $9.00 in a report issued on Tuesday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other analysts have also recently commented on the stock. William Blair reaffirmed an outperform rating on shares of Alignment Healthcare in a research note on Wednesday, March 6th. Stephens lifted their target price on shares of Alignment Healthcare from $10.00 to $10.50 and gave the stock an equal weight rating in a research note on Tuesday, January 9th. Piper Sandler reaffirmed a neutral rating and issued a $6.00 target price (down from $12.00) on shares of Alignment Healthcare in a research note on Wednesday, March 6th. Raymond James lifted their target price on shares of Alignment Healthcare from $10.00 to $12.00 and gave the stock a strong-buy rating in a research note on Tuesday, January 9th. Finally, UBS Group lowered their target price on shares of Alignment Healthcare from $9.00 to $8.50 and set a neutral rating for the company in a research note on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $9.18.

Alignment Healthcare Trading Up 1.0 %

Shares of ALHC opened at $5.21 on Tuesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a 50 day simple moving average of $5.22 and a 200-day simple moving average of $6.60. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $9.20. The stock has a market cap of $984.59 million, a price-to-earnings ratio of -6.59 and a beta of 1.30.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). Alignment Healthcare had a negative return on equity of 75.64% and a negative net margin of 8.12%. The business had revenue of $465.39 million for the quarter, compared to analysts’ expectations of $444.56 million. During the same period last year, the business earned ($0.31) earnings per share. The company’s revenue for the quarter was up 28.6% on a year-over-year basis. Equities analysts forecast that Alignment Healthcare will post -0.6 EPS for the current fiscal year.

Insider Activity

In other news, CFO Robert Thomas Freeman sold 11,858 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $4.89, for a total transaction of $57,985.62. Following the completion of the sale, the chief financial officer now directly owns 898,228 shares of the company’s stock, valued at approximately $4,392,334.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Dawn Christine Maroney sold 23,000 shares of Alignment Healthcare stock in a transaction on Friday, March 8th. The shares were sold at an average price of $5.44, for a total transaction of $125,120.00. Following the transaction, the insider now owns 1,830,008 shares in the company, valued at approximately $9,955,243.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert Thomas Freeman sold 11,858 shares of Alignment Healthcare stock in a transaction on Friday, March 15th. The shares were sold at an average price of $4.89, for a total transaction of $57,985.62. Following the transaction, the chief financial officer now owns 898,228 shares in the company, valued at approximately $4,392,334.92. The disclosure for this sale can be found here. Insiders sold 90,213 shares of company stock valued at $460,587 in the last ninety days. Company insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently made changes to their positions in ALHC. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Alignment Healthcare by 75.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,427 shares of the company’s stock worth $183,000 after buying an additional 11,370 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Alignment Healthcare by 38.1% in the 3rd quarter. Mackenzie Financial Corp now owns 31,069 shares of the company’s stock worth $218,000 after buying an additional 8,577 shares in the last quarter. Strs Ohio lifted its holdings in Alignment Healthcare by 24.2% in the 3rd quarter. Strs Ohio now owns 85,700 shares of the company’s stock worth $594,000 after buying an additional 16,700 shares in the last quarter. TD Asset Management Inc lifted its holdings in Alignment Healthcare by 35.5% in the 3rd quarter. TD Asset Management Inc now owns 348,450 shares of the company’s stock worth $2,418,000 after buying an additional 91,386 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its holdings in Alignment Healthcare by 16.8% in the 3rd quarter. Panagora Asset Management Inc. now owns 345,798 shares of the company’s stock worth $2,400,000 after buying an additional 49,716 shares in the last quarter. Institutional investors and hedge funds own 86.19% 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.