Alignment Healthcare (NASDAQ:ALHC) Price Target Cut to $10.00 by Analysts at TD Cowen

Alignment Healthcare (NASDAQ:ALHC) had its target price dropped by stock analysts at TD Cowen from $12.00 to $10.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen‘s price target indicates a potential upside of 43.58% from the stock’s previous close.

Several other equities analysts also recently commented on the company. JPMorgan Chase & Co. decreased their target price on Alignment Healthcare from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday. The Goldman Sachs Group restated a “buy” rating and issued a $12.00 target price on shares of Alignment Healthcare in a research report on Thursday, October 22nd. Wall Street Zen downgraded shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Barclays decreased their price objective on shares of Alignment Healthcare from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, William Blair cut Alignment Healthcare from an “outperform” rating to a “market perform” rating in a research note on Friday, October 9th. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $14.00.

Alignment Healthcare Stock Down 4.2%

ALHC traded down $0.30 during trading hours on Monday, hitting $6.96. 1,834,762 shares of the company’s stock were exchanged, compared to its average volume of 5,646,960. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 1.17. Alignment Healthcare has a 1-year low of $6.01 and a 1-year high of $25.12. The stock’s 50-day moving average is $9.87 and its two-hundred day moving average is $16.82. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 53.76 and a beta of 1.07.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings results on Thursday, October 29th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. Alignment Healthcare had a return on equity of 12.46% and a net margin of 0.59%. The business’s quarterly revenue was up 36.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.02 EPS. Sell-side analysts predict that Alignment Healthcare will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO John Kao sold 27,400 shares of Alignment Healthcare stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $13.00, for a total value of $356,200.00. Following the transaction, the chief executive officer directly owned 590,766 shares of the company’s stock, valued at $7,679,958. The trade was a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Hyong Kim sold 32,479 shares of the business’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $8.30, for a total transaction of $269,575.70. Following the completion of the transaction, the insider owned 299,271 shares in the company, valued at approximately $2,483,949.30. The trade was a 9.79% decrease in their position. 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 quarter, insiders have sold 1,061,967 shares of company stock worth $13,642,490. Corporate insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

Institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in shares of Alignment Healthcare by 463.3% during the 2nd quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock worth $33,000 after purchasing an additional 1,135 shares during the period. Nykredit A S purchased a new position in Alignment Healthcare in the second quarter valued at about $36,000. Signature Equity Partners LLC purchased a new stake in Alignment Healthcare in the first quarter worth $46,000. Sterling Capital Management LLC lifted its position in shares of Alignment Healthcare by 839.9% during the 3rd quarter. Sterling Capital Management LLC now owns 6,739 shares of the company’s stock valued at $55,000 after buying an additional 6,022 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of 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 acquiring an additional 1,070 shares during the period. 86.19% of the stock is owned by institutional investors.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc is a technology-enabled health insurance company focused on providing Medicare Advantage plans for seniors. The company combines health plan coverage with care coordination and clinical services designed to help members manage chronic conditions, access providers and navigate the health care system.

Its offerings include Medicare Advantage plans, supplemental benefits and member support services. Alignment also uses its proprietary technology platform, including the Alignment Virtual Application (AVA), to support care teams, analyze health information and help deliver more personalized services to members.

Founded in 2013, Alignment Healthcare serves Medicare-eligible consumers in selected markets, including California, Florida, Nevada and North Carolina.