Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock Has Consensus Price Target of $19.18 According to Analysts

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have earned an average rating of “Moderate Buy” from the twelve research firms that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $16.82.

ALHC has been the topic of a number of analyst reports. KeyCorp reduced their target price on shares of Alignment Healthcare from $28.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, October 9th. Weiss Ratings lowered shares of Alignment Healthcare from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday. Raymond James Financial reissued an “outperform” rating on shares of Alignment Healthcare in a research note on Monday. Barclays cut their price target on shares of Alignment Healthcare from $16.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, October 6th. Finally, Scotiabank set a $9.00 price target on shares of Alignment Healthcare in a report on Friday.

Insiders Place Their Bets

In related news, CEO John Kao sold 385,270 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $12.68, for a total value of $4,885,223.60. Following the completion of the transaction, the chief executive officer directly owned 1,223,473 shares in the company, valued at approximately $15,513,637.64. This represents a 23.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Joseph Konowiecki sold 23,511 shares of the stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $8.61, for a total value of $202,429.71. Following the completion of the transaction, the executive vice president owned 1,080,305 shares of the company’s stock, valued at $9,301,426.05. The trade was a 2.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 1,061,967 shares of company stock valued at $13,642,490. Insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

A number of hedge funds have recently modified their holdings of ALHC. WINTON GROUP Ltd acquired a new stake in shares of Alignment Healthcare during the 2nd quarter worth about $1,164,000. Arizona State Retirement System raised its holdings in Alignment Healthcare by 15.8% in the 2nd quarter. Arizona State Retirement System now owns 53,553 shares of the company’s stock valued at $1,275,000 after buying an additional 7,318 shares during the period. Nykredit A S acquired a new position in Alignment Healthcare in the second quarter valued at about $36,000. Corient Private Wealth LP boosted its stake in Alignment Healthcare by 128.2% during the second quarter. Corient Private Wealth LP now owns 136,505 shares of the company’s stock worth $3,250,000 after buying an additional 76,677 shares during the period. Finally, HighTower Advisors LLC purchased a new position in Alignment Healthcare during the second quarter worth about $755,000. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Alignment Healthcare Stock Up 2.6%

Shares of ALHC opened at $8.30 on Friday. Alignment Healthcare has a 52-week low of $6.01 and a 52-week high of $25.12. The company has a market capitalization of $1.72 billion, a PE ratio of 43.69 and a beta of 1.14. The stock has a fifty day simple moving average of $11.26 and a two-hundred day simple moving average of $16.50. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.22.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.04. Alignment Healthcare had a net margin of 0.89% and a return on equity of 20.02%. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the company posted $0.07 EPS. The company’s revenue was up 31.6% compared to the same quarter last year. As a group, equities analysts forecast that Alignment Healthcare will post 0.14 EPS for the current year.

About Alignment Healthcare

Alignment Healthcare, Inc is a technology-enabled Medicare Advantage company focused on providing health coverage and care services for older adults. The company offers Medicare Advantage plans that combine medical benefits with care coordination, wellness support, and other services designed to help members manage their health.

Alignment operates through an integrated healthcare model that uses its proprietary technology platform to support physicians, care teams, and members. Its services include personalized care management, clinical coordination, virtual and in-home support, and member assistance through its concierge-style approach.