Alignment Healthcare (NASDAQ:ALHC) Price Target Raised to $26.00

Alignment Healthcare (NASDAQ:ALHC) had its target price increased by equities research analysts at JPMorgan Chase & Co. from $23.00 to $26.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 22.16% from the stock’s previous close.

ALHC has been the subject of a number of other reports. Robert W. Baird set a $28.00 price objective on shares of Alignment Healthcare in a report on Friday, January 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alignment Healthcare in a research note on Wednesday, January 21st. Barclays upped their price target on Alignment Healthcare from $13.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, October 31st. UBS Group boosted 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. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $22.00 price target on shares of Alignment Healthcare in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $23.32.

Alignment Healthcare Stock Performance

Shares of ALHC traded down $0.05 during trading hours on Thursday, reaching $21.28. 901,249 shares of the company traded hands, compared to its average volume of 2,946,930. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.61 and a current ratio of 1.61. The stock’s fifty day moving average is $20.70 and its 200 day moving average is $17.67. Alignment Healthcare has a 1-year low of $11.63 and a 1-year high of $23.87. The stock has a market cap of $4.26 billion, a P/E ratio of -177.08, a price-to-earnings-growth ratio of 6.03 and a beta of 1.16.

Insider Activity

In other news, President Dawn Christine Maroney sold 282,070 shares of Alignment Healthcare stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $18.74, for a total transaction of $5,285,991.80. Following the completion of the sale, the president owned 1,385,167 shares in the company, valued at $25,958,029.58. The trade was a 16.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John E. Kao sold 605,648 shares of the firm’s stock in a transaction on Monday, December 29th. The stock was sold at an average price of $18.74, for a total value of $11,349,843.52. Following the completion of the transaction, the chief executive officer owned 2,234,294 shares in the company, valued at $41,870,669.56. This represents a 21.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 2,103,532 shares of company stock valued at $40,529,538. 7.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alignment Healthcare

Hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC acquired a new stake in Alignment Healthcare during the 3rd quarter worth $33,000. First Horizon Corp bought a new stake in Alignment Healthcare during the 4th quarter worth approximately $39,000. SBI Securities Co. Ltd. raised its holdings in Alignment Healthcare by 4,868.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,031 shares of the company’s stock worth $42,000 after buying an additional 2,970 shares during the period. GAMMA Investing LLC lifted its stake in Alignment Healthcare by 83.8% in the fourth quarter. GAMMA Investing LLC now owns 2,165 shares of the company’s stock valued at $43,000 after buying an additional 987 shares in the last quarter. Finally, KBC Group NV acquired a new position in shares of Alignment Healthcare in the second quarter valued at approximately $44,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

About Alignment Healthcare

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.