Alignment Healthcare (NASDAQ:ALHC) Reaches New 12-Month High – Still a Buy?

Alignment Healthcare, Inc. (NASDAQ:ALHC) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $23.87 and last traded at $23.81, with a volume of 2814345 shares trading hands. The stock had previously closed at $23.81.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ALHC shares. TD Cowen upped their price target on Alignment Healthcare from $18.50 to $25.00 and gave the company a “buy” rating in a research report on Friday, January 16th. Wall Street Zen lowered shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. UBS Group increased their target price on shares of Alignment Healthcare from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Piper Sandler lifted their price target on shares of Alignment Healthcare from $20.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, January 6th. Finally, Barclays increased their price objective on shares of Alignment Healthcare from $13.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alignment Healthcare presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Alignment Healthcare Price Performance

The firm’s 50 day simple moving average is $20.03 and its 200 day simple moving average is $17.26. The company has a market cap of $4.76 billion, a price-to-earnings ratio of -198.42, a price-to-earnings-growth ratio of 6.27 and a beta of 1.16. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.99.

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

Insider Activity at Alignment Healthcare

In other news, President Dawn Christine Maroney sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $22.48, for a total value of $674,400.00. Following the completion of the sale, the president directly owned 1,027,015 shares of the company’s stock, valued at approximately $23,087,297.20. This represents a 2.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert L. Scavo sold 69,541 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $18.74, for a total transaction of $1,303,198.34. Following the completion of the transaction, the insider owned 503,014 shares of the company’s stock, valued at $9,426,482.36. This trade represents a 12.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 2,103,532 shares of company stock worth $40,529,538 in the last three months. Insiders own 6.60% of the company’s stock.

Institutional Trading of Alignment Healthcare

Institutional investors have recently modified their holdings of the company. Larson Financial Group LLC acquired a new stake in Alignment Healthcare in the 3rd quarter valued at about $33,000. SBI Securities Co. Ltd. boosted its holdings in Alignment Healthcare by 4,868.9% during the second quarter. SBI Securities Co. Ltd. now owns 3,031 shares of the company’s stock worth $42,000 after buying an additional 2,970 shares in the last quarter. GAMMA Investing LLC grew its position in Alignment Healthcare by 83.8% in the fourth quarter. GAMMA Investing LLC now owns 2,165 shares of the company’s stock worth $43,000 after buying an additional 987 shares during the last quarter. KBC Group NV acquired a new position in shares of Alignment Healthcare in the 2nd quarter worth $44,000. Finally, Signaturefd LLC raised its position in shares of Alignment Healthcare by 142.6% during the second quarter. Signaturefd LLC now owns 3,768 shares of the company’s stock worth $53,000 after purchasing an additional 2,215 shares during the period. Institutional investors and hedge funds 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.