Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts give Alignment Healthcare a “Moderate Buy” consensus: Six of 10 analysts rate the stock a buy, while four recommend holding it. The average 12-month price target is $24.30.
• Quarterly results exceeded expectations: Alignment reported $0.05 in earnings per share versus the $0.01 consensus estimate, while revenue rose 33.3% year over year to $1.24 billion.
• Insiders have been selling shares: Executives sold a combined 1,039,951 shares worth nearly $20 million over the past 90 days, although 86.19% of the stock is held by institutional investors.

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) have earned a consensus rating of "Moderate Buy" from the ten ratings firms that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $24.30.

Several research firms have recently weighed in on ALHC. Wall Street Zen raised Alignment Healthcare from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Raymond James Financial set a $22.00 target price on Alignment Healthcare in a research report on Thursday, May 7th. UBS Group restated a "neutral" rating on shares of Alignment Healthcare in a research note on Wednesday, July 8th. KeyCorp reaffirmed an "overweight" rating on shares of Alignment Healthcare in a research report on Wednesday, June 10th. Finally, Wolfe Research initiated coverage on Alignment Healthcare in a research report on Friday, April 17th. They set an "outperform" rating and a $24.00 price target for the company.

Insiders Place Their Bets

In other news, President Dawn Christine Maroney sold 30,000 shares of the business's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $19.55, for a total value of $586,500.00. Following the sale, the president owned 947,313 shares of the company's stock, valued at $18,519,969.15. The trade was a 3.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joseph S. Konowiecki sold 25,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $24.00, for a total transaction of $600,000.00. Following the transaction, the executive vice president owned 1,103,816 shares of the company's stock, valued at $26,491,584. The trade was a 2.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,039,951 shares of company stock valued at $19,976,967 over the last 90 days. 5.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Summit Securities Group LLC bought a new position in shares of Alignment Healthcare in the fourth quarter valued at $26,000. Versant Capital Management Inc increased its holdings in Alignment Healthcare by 463.3% during the second quarter. Versant Capital Management Inc now owns 1,380 shares of the company's stock worth $33,000 after buying an additional 1,135 shares during the last quarter. Parallel Advisors LLC raised its position in Alignment Healthcare by 87.7% during the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company's stock worth $33,000 after acquiring an additional 773 shares in the last quarter. Larson Financial Group LLC bought a new stake in Alignment Healthcare during the third quarter worth $33,000. Finally, First Horizon Corp acquired a new stake in Alignment Healthcare in the fourth quarter valued at $39,000. 86.19% of the stock is currently owned by institutional investors.

Alignment Healthcare Trading Down 3.9%

ALHC opened at $18.67 on Tuesday. The stock has a market capitalization of $3.86 billion, a P/E ratio of 207.44, a P/E/G ratio of 2.62 and a beta of 1.05. Alignment Healthcare has a 12 month low of $11.66 and a 12 month high of $25.12. The firm's fifty day simple moving average is $19.62 and its 200 day simple moving average is $19.85. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.56.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.04. Alignment Healthcare had a net margin of 0.47% and a return on equity of 11.50%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the business earned ($0.05) EPS. The company's revenue for the quarter was up 33.3% compared to the same quarter last year. As a group, research analysts anticipate that Alignment Healthcare will post 0.2 EPS for the current fiscal year.

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.

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