Alignment Healthcare (NASDAQ:ALHC) Price Target Raised to $25.00

Alignment Healthcare (NASDAQ:ALHC) had its price target boosted by equities researchers at TD Cowen from $18.50 to $25.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price target would indicate a potential upside of 10.45% from the company’s previous close.

ALHC has been the topic of several other reports. UBS Group lifted their target price on shares of Alignment Healthcare from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday. Barclays boosted their price objective on shares of Alignment Healthcare from $13.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, October 31st. Piper Sandler increased their target price on shares of Alignment Healthcare from $20.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. The Goldman Sachs Group reissued a “buy” rating and issued a $22.00 target price on shares of Alignment Healthcare in a research note on Monday, November 3rd. Finally, JPMorgan Chase & Co. upped their price target on Alignment Healthcare from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alignment Healthcare currently has an average rating of “Moderate Buy” and a consensus price target of $21.86.

Alignment Healthcare Stock Up 0.6%

Shares of NASDAQ:ALHC opened at $22.63 on Friday. The stock has a market capitalization of $4.53 billion, a P/E ratio of -187.42, a price-to-earnings-growth ratio of 5.73 and a beta of 1.16. The stock’s 50-day moving average price is $19.08 and its 200-day moving average price is $16.76. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.99. Alignment Healthcare has a 12-month low of $11.63 and a 12-month high of $23.03.

Alignment Healthcare (NASDAQ:ALHC) last issued its earnings results on Thursday, October 30th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. Alignment Healthcare had a negative return on equity of 16.23% and a negative net margin of 0.57%.The company had revenue of $993.70 million during the quarter, compared to analysts’ expectations of $980.90 million. During the same period in the prior year, the business posted ($0.14) EPS. Alignment Healthcare’s quarterly revenue was up 43.5% compared to the same quarter last year. On average, equities analysts anticipate that Alignment Healthcare will post -0.69 earnings per share for the current year.

Insider Activity at Alignment Healthcare

In other news, Director Joseph S. Konowiecki sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $18.00, for a total value of $450,000.00. Following the completion of the transaction, the director owned 1,085,973 shares in the company, valued at $19,547,514. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John E. Kao sold 605,648 shares of Alignment Healthcare stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $18.74, for a total value of $11,349,843.52. Following the sale, the chief executive officer owned 2,234,294 shares in the company, valued at $41,870,669.56. This represents a 21.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,098,532 shares of company stock valued at $40,305,138 in the last three months. Corporate insiders own 7.00% of the company’s stock.

Institutional Trading of Alignment Healthcare

A number of hedge funds have recently modified their holdings of the business. Strs Ohio bought a new position in Alignment Healthcare in the first quarter worth approximately $600,000. Inspire Investing LLC purchased a new stake in shares of Alignment Healthcare in the 3rd quarter worth $1,129,000. Ameritas Investment Partners Inc. raised its holdings in Alignment Healthcare by 32.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,031 shares of the company’s stock worth $182,000 after purchasing an additional 3,225 shares during the period. Schroder Investment Management Group lifted its position in Alignment Healthcare by 28.7% during the second quarter. Schroder Investment Management Group now owns 248,163 shares of the company’s stock valued at $3,437,000 after purchasing an additional 55,314 shares in the last quarter. Finally, Jump Financial LLC lifted its position in Alignment Healthcare by 173.8% during the second quarter. Jump Financial LLC now owns 1,056,600 shares of the company’s stock valued at $14,792,000 after purchasing an additional 670,750 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.

About Alignment Healthcare

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.