Alignment Healthcare (NASDAQ:ALHC) Sets New 52-Week High – Here’s Why

Alignment Healthcare, Inc. (NASDAQ:ALHC) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $23.20 and last traded at $22.7750, with a volume of 625365 shares trading hands. The stock had previously closed at $22.74.

Wall Street Analyst Weigh In

Several analysts have commented on ALHC shares. JPMorgan Chase & Co. increased their price target on shares of Alignment Healthcare from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, December 17th. UBS Group raised their target price on shares of Alignment Healthcare from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Cowen reaffirmed a “buy” rating on shares of Alignment Healthcare in a research report on Friday. Wall Street Zen cut Alignment Healthcare from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Piper Sandler raised their price target on Alignment Healthcare from $20.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.86.

Alignment Healthcare Price Performance

The stock has a fifty day moving average of $19.46 and a 200 day moving average of $16.98. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of -191.42, a P/E/G ratio of 5.92 and a beta of 1.16. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.61 and a quick ratio of 1.61.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The company had revenue of $993.70 million during the quarter, compared to analyst estimates of $980.90 million. Alignment Healthcare had a negative net margin of 0.57% and a negative return on equity of 16.23%. Alignment Healthcare’s revenue for the quarter was up 43.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.14) EPS. On average, analysts expect that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling at Alignment Healthcare

In related news, CEO John E. Kao sold 605,648 shares of Alignment Healthcare stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $18.74, for a total transaction of $11,349,843.52. Following the completion of the transaction, the chief executive officer directly owned 2,234,294 shares in the company, valued at approximately $41,870,669.56. This trade represents a 21.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert L. Scavo sold 69,541 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $18.74, for a total value of $1,303,198.34. Following the completion of the sale, the insider owned 503,014 shares in the company, valued at approximately $9,426,482.36. This represents a 12.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 2,128,532 shares of company stock worth $40,979,538. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Large investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its position in shares of Alignment Healthcare by 92.6% during the 1st quarter. Royal Bank of Canada now owns 92,379 shares of the company’s stock valued at $1,720,000 after buying an additional 44,413 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Alignment Healthcare by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,557 shares of the company’s stock valued at $1,109,000 after acquiring an additional 2,594 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Alignment Healthcare by 79.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 972,715 shares of the company’s stock valued at $18,112,000 after buying an additional 429,703 shares during the period. Woodline Partners LP purchased a new position in shares of Alignment Healthcare during the 1st quarter worth $2,142,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Alignment Healthcare by 16.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 307,655 shares of the company’s stock worth $5,729,000 after buying an additional 44,452 shares during the period. 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.