Stifel Nicolaus Trims Alignment Healthcare (NASDAQ:ALHC) Target Price to $9.00

Alignment Healthcare (NASDAQ:ALHC) had its price objective reduced by Stifel Nicolaus from $11.00 to $9.00 in a research note released on Tuesday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other research analysts also recently weighed in on ALHC. UBS Group dropped their target price on Alignment Healthcare from $9.00 to $8.50 and set a neutral rating on the stock in a research note on Wednesday, February 28th. Raymond James boosted their target price on Alignment Healthcare from $10.00 to $12.00 and gave the stock a strong-buy rating in a research note on Tuesday, January 9th. Piper Sandler restated a neutral rating and set a $6.00 target price (down from $12.00) on shares of Alignment Healthcare in a research note on Wednesday, March 6th. Barclays assumed coverage on Alignment Healthcare in a research note on Wednesday, March 6th. They set an underweight rating and a $4.50 target price on the stock. Finally, William Blair reaffirmed an outperform rating on shares of Alignment Healthcare in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $9.18.

Alignment Healthcare Trading Up 1.0 %

Shares of NASDAQ:ALHC opened at $5.21 on Tuesday. Alignment Healthcare has a 12-month low of $4.46 and a 12-month high of $9.20. The business’s fifty day simple moving average is $5.22 and its 200-day simple moving average is $6.60. The company has a market capitalization of $984.59 million, a PE ratio of -6.59 and a beta of 1.30. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.02.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). Alignment Healthcare had a negative net margin of 8.12% and a negative return on equity of 75.64%. The company had revenue of $465.39 million during the quarter, compared to analysts’ expectations of $444.56 million. During the same quarter in the prior year, the business posted ($0.31) earnings per share. The company’s revenue was up 28.6% compared to the same quarter last year. As a group, equities research analysts predict that Alignment Healthcare will post -0.6 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO John E. Kao acquired 103,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $4.82 per share, with a total value of $496,460.00. Following the acquisition, the chief executive officer now directly owns 2,745,253 shares in the company, valued at approximately $13,232,119.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Dawn Christine Maroney sold 23,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $5.44, for a total value of $125,120.00. Following the completion of the transaction, the insider now owns 1,830,008 shares of the company’s stock, valued at approximately $9,955,243.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John E. Kao acquired 103,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $4.82 per share, with a total value of $496,460.00. Following the acquisition, the chief executive officer now owns 2,745,253 shares in the company, valued at $13,232,119.46. The disclosure for this purchase can be found here. Insiders sold a total of 90,213 shares of company stock valued at $460,587 in the last quarter. 6.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors and hedge funds have recently modified their holdings of ALHC. Barlow Wealth Partners Inc. purchased a new position in shares of Alignment Healthcare in the 4th quarter valued at about $100,000. Teza Capital Management LLC purchased a new position in shares of Alignment Healthcare in the 3rd quarter valued at about $109,000. Victory Capital Management Inc. increased its stake in shares of Alignment Healthcare by 17.9% in the 4th quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock valued at $111,000 after purchasing an additional 1,962 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Alignment Healthcare in the 3rd quarter valued at about $116,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Alignment Healthcare by 75.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,427 shares of the company’s stock valued at $183,000 after purchasing an additional 11,370 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.