Alignment Healthcare (NASDAQ:ALHC) Cut to Outperform at Raymond James Financial

Alignment Healthcare (NASDAQ:ALHC) was downgraded by Raymond James Financial from a “strong-buy” rating to an “outperform” rating in a research report issued on Monday, MarketBeat reports. They currently have a $19.00 price objective on the stock. Raymond James Financial’s price target suggests a potential upside of 27.95% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Weiss Ratings raised Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Zacks Research cut shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. UBS Group reiterated a “neutral” rating on shares of Alignment Healthcare in a research report on Wednesday, July 8th. Barclays decreased their target price on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 26th. Finally, Wall Street Zen lowered Alignment Healthcare from a “buy” rating to a “hold” rating in a research report on Saturday. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Alignment Healthcare Price Performance

ALHC stock opened at $14.85 on Monday. Alignment Healthcare has a 52 week low of $12.91 and a 52 week high of $25.12. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 78.16, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05. The firm’s 50-day moving average is $19.70 and its two-hundred day moving average is $19.75. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 1.22.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. Alignment Healthcare had a net margin of 0.89% and a return on equity of 20.02%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the business earned $0.07 earnings per share. The business’s revenue for the quarter was up 31.6% on a year-over-year basis. On average, analysts forecast that Alignment Healthcare will post 0.2 earnings per share for the current fiscal year.

Insider Activity

In other Alignment Healthcare news, insider Mark D. Kent bought 14,848 shares of Alignment Healthcare stock in a transaction dated Tuesday, June 2nd. The stock was bought at an average price of $13.31 per share, for a total transaction of $197,626.88. Following the completion of the acquisition, the insider directly owned 14,848 shares of the company’s stock, valued at approximately $197,626.88. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John E. Kao sold 298,000 shares of Alignment Healthcare stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $20.36, for a total value of $6,067,280.00. Following the transaction, the chief executive officer owned 1,386,766 shares in the company, valued at $28,234,555.76. This represents a 17.69% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,039,951 shares of company stock worth $19,976,967. 5.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alignment Healthcare

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in shares of Alignment Healthcare by 167.3% in the third quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company’s stock worth $193,516,000 after purchasing an additional 6,940,277 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Alignment Healthcare by 232.5% during the first quarter. Bank of New York Mellon Corp now owns 3,313,110 shares of the company’s stock worth $58,377,000 after purchasing an additional 2,316,777 shares during the period. Invesco Ltd. grew its position in Alignment Healthcare by 122.3% during the second quarter. Invesco Ltd. now owns 4,170,529 shares of the company’s stock valued at $58,387,000 after purchasing an additional 2,294,739 shares in the last quarter. Capital World Investors acquired a new position in Alignment Healthcare in the 4th quarter valued at approximately $44,203,000. Finally, Loomis Sayles & Co. L P acquired a new position in Alignment Healthcare in the 4th quarter valued at approximately $44,162,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Company Profile

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.