TD Cowen Has Lowered Expectations for Alignment Healthcare (NASDAQ:ALHC) Stock Price

Alignment Healthcare (NASDAQ:ALHC) had its price target dropped by equities researchers at TD Cowen from $21.00 to $12.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective indicates a potential upside of 44.58% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. Raymond James Financial restated an “outperform” rating on shares of Alignment Healthcare in a research report on Monday. Wall Street Zen downgraded Alignment Healthcare from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Scotiabank set a $9.00 price objective on Alignment Healthcare in a report on Friday. Zacks Research cut Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, William Blair downgraded Alignment Healthcare from an “outperform” rating to a “market perform” rating in a research note on Friday. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Alignment Healthcare has a consensus rating of “Moderate Buy” and a consensus price target of $16.82.

Alignment Healthcare Price Performance

Shares of NASDAQ:ALHC opened at $8.30 on Monday. Alignment Healthcare has a twelve month low of $6.01 and a twelve month high of $25.12. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 1.22. The company has a market cap of $1.72 billion, a PE ratio of 43.69 and a beta of 1.14. The company’s 50 day moving average is $11.26 and its 200 day moving average is $16.50.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Alignment Healthcare had a net margin of 0.89% and a return on equity of 20.02%. The business’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.07 EPS. On average, sell-side analysts forecast that Alignment Healthcare will post 0.14 EPS for the current year.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, President Dawn Maroney sold 122,707 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $12.68, for a total transaction of $1,555,924.76. Following the sale, the president directly owned 794,606 shares in the company, valued at $10,075,604.08. This represents a 13.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Hyong Kim sold 32,479 shares of the company’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $8.30, for a total value of $269,575.70. Following the sale, the insider directly owned 299,271 shares in the company, valued at $2,483,949.30. This represents a 9.79% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 1,061,967 shares of company stock valued at $13,642,490. 5.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in Alignment Healthcare by 9.8% in the 2nd quarter. Wellington Management Group LLP now owns 18,780,363 shares of the company’s stock valued at $447,160,000 after purchasing an additional 1,681,427 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Alignment Healthcare during the 2nd quarter worth $184,799,000. Danica Pension Livsforsikringsaktieselskab acquired a new position in shares of Alignment Healthcare during the 2nd quarter worth about $87,794,000. Bank of New York Mellon Corp acquired a new position in Alignment Healthcare in the second quarter valued at approximately $87,077,000. Finally, Bank of America Corp DE boosted its stake in Alignment Healthcare by 156.5% in the first quarter. Bank of America Corp DE now owns 3,215,667 shares of the company’s stock valued at $56,660,000 after acquiring an additional 1,961,778 shares in the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

About Alignment Healthcare

Alignment Healthcare, Inc is a technology-enabled Medicare Advantage company focused on providing health coverage and care services for older adults. The company offers Medicare Advantage plans that combine medical benefits with care coordination, wellness support, and other services designed to help members manage their health.

Alignment operates through an integrated healthcare model that uses its proprietary technology platform to support physicians, care teams, and members. Its services include personalized care management, clinical coordination, virtual and in-home support, and member assistance through its concierge-style approach.