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

Key Points

• Analysts give Alignment Healthcare a “Moderate Buy” consensus: seven of 11 analysts rate the stock a buy, while four recommend holding it. The average 12-month price target is $23.60.
• Alignment Healthcare exceeded quarterly expectations, reporting $0.17 in EPS versus the $0.13 consensus and $1.34 billion in revenue, up 31.6% year over year.
• The stock opened at $13.16, well below its 12-month high of $25.12. Insiders sold roughly 1.01 million shares worth $18.6 million over the past three months, while institutional investors own 86.19% of the company.

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eleven analysts that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $23.60.

ALHC has been the topic of several recent analyst reports. KeyCorp reissued an "overweight" rating on shares of Alignment Healthcare in a research report on Wednesday, June 10th. JPMorgan Chase & Co. decreased their target price on shares of Alignment Healthcare from $26.00 to $22.00 and set an "overweight" rating for the company in a report on Tuesday, August 4th. UBS Group reiterated a "neutral" rating on shares of Alignment Healthcare in a research note on Wednesday, July 8th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Alignment Healthcare in a report on Tuesday, August 4th. Finally, Zacks Research downgraded shares of Alignment Healthcare from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th.

Alignment Healthcare Stock Performance

Alignment Healthcare stock opened at $13.16 on Friday. Alignment Healthcare has a twelve month low of $12.70 and a twelve month high of $25.12. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $2.73 billion, a P/E ratio of 69.27 and a beta of 1.10. The stock's 50 day moving average is $18.84 and its 200 day moving average is $18.83.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.04. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.The business had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.31 billion. During the same quarter in the previous year, the business earned $0.07 earnings per share. The firm's quarterly revenue was up 31.6% compared to the same quarter last year. On average, equities research analysts predict that Alignment Healthcare will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alignment Healthcare news, CEO John E. Kao sold 298,000 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $13.88, for a total transaction of $4,136,240.00. Following the sale, the chief executive officer directly owned 790,766 shares in the company, valued at approximately $10,975,832.08. This trade represents a 27.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Hyong Kim sold 35,951 shares of Alignment Healthcare stock in a transaction on Friday, June 12th. The stock was sold at an average price of $19.86, for a total value of $713,986.86. Following the completion of the sale, the insider directly owned 331,750 shares of the company's stock, valued at approximately $6,588,555. The trade was a 9.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,009,951 shares of company stock worth $18,597,287 in the last three months. Corporate insiders own 5.20% of the company's stock.

Hedge Funds Weigh In On Alignment Healthcare

A number of hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP boosted its holdings in Alignment Healthcare by 9.8% in the second quarter. Wellington Management Group LLP now owns 18,780,363 shares of the company's stock worth $447,160,000 after purchasing an additional 1,681,427 shares during the last quarter. Vanguard Group Inc. raised its stake in Alignment Healthcare by 10.9% during the 4th quarter. Vanguard Group Inc. now owns 15,492,802 shares of the company's stock valued at $305,983,000 after buying an additional 1,524,218 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Alignment Healthcare by 0.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,643,784 shares of the company's stock valued at $249,715,000 after buying an additional 79,268 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Alignment Healthcare during the 2nd quarter valued at $184,799,000. Finally, Invesco Ltd. lifted its holdings in shares of Alignment Healthcare by 38.9% during the 4th quarter. Invesco Ltd. now owns 6,202,592 shares of the company's stock valued at $122,501,000 after buying an additional 1,735,962 shares during the period. Hedge funds and other institutional investors own 86.19% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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