TD Cowen Issues Pessimistic Forecast for Alignment Healthcare (NASDAQ:ALHC) Stock Price

Alignment Healthcare (NASDAQ:ALHC) had its price objective dropped by analysts at TD Cowen from $12.00 to $10.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen‘s price objective points to a potential upside of 43.58% from the company’s previous close.

Several other equities research analysts have also recently weighed in on ALHC. UBS Group reduced their target price on shares of Alignment Healthcare from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday. Weiss Ratings cut Alignment Healthcare from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday. William Blair lowered Alignment Healthcare from an “outperform” rating to a “market perform” rating in a research note on Friday, October 9th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $12.00 target price on shares of Alignment Healthcare in a research report on Thursday, October 22nd. Finally, Scotiabank set a $9.00 price target on shares of Alignment Healthcare in a research note on Friday, October 9th. Six equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $14.00.

Alignment Healthcare Stock Performance

Shares of ALHC stock traded down $0.30 during trading hours on Monday, reaching $6.96. 1,834,762 shares of the company’s stock were exchanged, compared to its average volume of 5,646,960. The business has a fifty day moving average price of $9.87 and a 200-day moving average price of $16.82. The stock has a market capitalization of $1.46 billion, a P/E ratio of 53.76 and a beta of 1.07. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 1.17. Alignment Healthcare has a fifty-two week low of $6.01 and a fifty-two week high of $25.12.

Alignment Healthcare (NASDAQ:ALHC) last announced its earnings results on Thursday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). Alignment Healthcare had a net margin of 0.59% and a return on equity of 12.46%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the firm posted $0.02 earnings per share. Alignment Healthcare’s revenue was up 36.7% compared to the same quarter last year. Analysts predict that Alignment Healthcare will post 0.14 EPS for the current fiscal year.

Insider Activity

In other news, insider Hyong Kim sold 32,479 shares of the business’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $8.30, for a total value of $269,575.70. Following the sale, the insider owned 299,271 shares in the company, valued at approximately $2,483,949.30. The trade was a 9.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Dawn Maroney sold 122,707 shares of Alignment Healthcare stock in a transaction dated 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 transaction, the president directly owned 794,606 shares of the company’s stock, valued at $10,075,604.08. This represents a 13.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 1,061,967 shares of company stock worth $13,642,490 over the last 90 days. 5.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors have recently modified their holdings of ALHC. Wellington Management Group LLP raised its position in shares of 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 acquiring an additional 1,681,427 shares during the period. William Blair Investment Management LLC bought a new position in shares of Alignment Healthcare during the second quarter worth $184,799,000. Danica Pension Livsforsikringsaktieselskab acquired a new position in shares of Alignment Healthcare in the 2nd quarter valued at $87,794,000. Bank of New York Mellon Corp acquired a new position in shares of Alignment Healthcare in the 2nd quarter valued at $87,077,000. Finally, Bank of America Corp DE increased its position in shares of Alignment Healthcare by 156.5% in the 1st quarter. Bank of America Corp DE now owns 3,215,667 shares of the company’s stock valued at $56,660,000 after buying an additional 1,961,778 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

About Alignment Healthcare

Alignment Healthcare, Inc is a technology-enabled health insurance company focused on providing Medicare Advantage plans for seniors. The company combines health plan coverage with care coordination and clinical services designed to help members manage chronic conditions, access providers and navigate the health care system.

Its offerings include Medicare Advantage plans, supplemental benefits and member support services. Alignment also uses its proprietary technology platform, including the Alignment Virtual Application (AVA), to support care teams, analyze health information and help deliver more personalized services to members.

Founded in 2013, Alignment Healthcare serves Medicare-eligible consumers in selected markets, including California, Florida, Nevada and North Carolina.