Alignment Healthcare (NASDAQ:ALHC) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of Alignment Healthcare (NASDAQ:ALHC) from a strong-buy rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

ALHC has been the subject of a number of other research reports. Wall Street Zen raised shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. KeyCorp reiterated an “overweight” rating on shares of Alignment Healthcare in a research report on Wednesday, June 10th. Raymond James Financial set a $22.00 price target on Alignment Healthcare in a research report on Thursday, May 7th. Wolfe Research began coverage on Alignment Healthcare in a research report on Friday, April 17th. They set an “outperform” rating and a $24.00 price target on the stock. Finally, UBS Group raised their price objective on Alignment Healthcare from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.30.

Alignment Healthcare Stock Down 2.1%

Shares of ALHC opened at $24.05 on Monday. The firm has a market cap of $4.97 billion, a P/E ratio of 267.22, a price-to-earnings-growth ratio of 3.32 and a beta of 1.05. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.58 and a current ratio of 1.58. Alignment Healthcare has a 52 week low of $11.63 and a 52 week high of $25.12. The firm’s 50-day simple moving average is $19.15 and its 200 day simple moving average is $19.79.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Alignment Healthcare had a net margin of 0.47% and a return on equity of 11.50%. The business’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same period last year, the business posted ($0.05) earnings per share. On average, analysts forecast that Alignment Healthcare will post 0.2 earnings per share for the current year.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, CEO John E. Kao sold 298,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $20.36, for a total transaction of $6,067,280.00. Following the completion of the sale, the chief executive officer directly owned 1,386,766 shares in the company, valued at $28,234,555.76. This represents a 17.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Dawn Christine Maroney sold 30,000 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $19.55, for a total value of $586,500.00. Following the completion of the sale, the president directly owned 947,313 shares in the company, valued at approximately $18,519,969.15. This represents a 3.07% 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. Insiders have sold a total of 1,069,951 shares of company stock worth $20,846,518 in the last three months. Company insiders own 5.20% of the company’s stock.

Institutional Trading of Alignment Healthcare

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its position in Alignment Healthcare by 46.6% during the 2nd quarter. GAMMA Investing LLC now owns 3,368 shares of the company’s stock worth $80,000 after purchasing an additional 1,070 shares in the last quarter. Versant Capital Management Inc boosted its position in Alignment Healthcare by 463.3% in the second quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock valued at $33,000 after buying an additional 1,135 shares in the last quarter. Bank of America Corp DE boosted its position 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 buying an additional 1,961,778 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Alignment Healthcare during the first quarter worth $4,852,000. Finally, California State Teachers Retirement System increased its holdings in shares of Alignment Healthcare by 25.4% during the first quarter. California State Teachers Retirement System now owns 198,200 shares of the company’s stock worth $3,492,000 after buying an additional 40,135 shares in the last quarter. 86.19% of the stock is currently owned by institutional investors.

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.