Alignment Healthcare (NASDAQ:ALHC) Hits New 12-Month High - Here's What Happened

Key Points

• Alignment Healthcare shares hit a new 52-week high, trading as high as $23.96, after recent momentum in the stock pushed it above its prior close of $23.26.
• Analyst sentiment has improved, with multiple firms upgrading the stock and the consensus rating now at Moderate Buy with a $24.30 average price target.
• The company’s latest quarterly results beat expectations, with EPS of $0.05 versus $0.01 expected and revenue of $1.24 billion, up 33.3% year over year.

Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report)'s share price hit a new 52-week high on Tuesday . The stock traded as high as $23.96 and last traded at $23.9050, with a volume of 966881 shares trading hands. The stock had previously closed at $23.26.

Wall Street Analyst Weigh In

Several analysts have commented on ALHC shares. Zacks Research raised Alignment Healthcare from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 28th. Wolfe Research began coverage on shares of Alignment Healthcare in a research note on Friday, April 17th. They issued an "outperform" rating and a $24.00 price target on the stock. Wall Street Zen upgraded shares of Alignment Healthcare from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Barclays dropped their target price on shares of Alignment Healthcare from $19.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 26th. Finally, Weiss Ratings raised shares of Alignment Healthcare from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $24.30.

Alignment Healthcare Price Performance

The company has a debt-to-equity ratio of 1.56, a current ratio of 1.58 and a quick ratio of 1.58. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 265.17, a price-to-earnings-growth ratio of 3.13 and a beta of 1.14. The stock has a 50 day moving average price of $18.81 and a 200-day moving average price of $19.61.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the company earned ($0.05) EPS. The firm's revenue was up 33.3% compared to the same quarter last year. On average, analysts forecast that Alignment Healthcare, Inc. will post 0.2 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Hyong Kim sold 35,951 shares of the firm's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $19.86, for a total value of $713,986.86. Following the transaction, the insider directly owned 331,750 shares of the company's stock, valued at approximately $6,588,555. This trade represents a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John E. Kao sold 298,000 shares of the business's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $20.36, for a total transaction of $6,067,280.00. Following the transaction, the chief executive officer owned 1,386,766 shares in the company, valued at $28,234,555.76. The trade was a 17.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,324,064 shares of company stock valued at $26,053,457. Corporate insiders own 5.20% of the company's stock.

Hedge Funds Weigh In On Alignment Healthcare

A number of institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its position in shares of Alignment Healthcare by 8.9% during the 4th quarter. Allworth Financial LP now owns 6,917 shares of the company's stock worth $137,000 after purchasing an additional 566 shares during the period. State of Alaska Department of Revenue lifted its stake in Alignment Healthcare by 6.0% during the fourth quarter. State of Alaska Department of Revenue now owns 11,296 shares of the company's stock worth $223,000 after purchasing an additional 636 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Alignment Healthcare by 6.3% during the third quarter. Integrated Wealth Concepts LLC now owns 11,230 shares of the company's stock worth $196,000 after buying an additional 665 shares during the period. Parallel Advisors LLC grew its stake in shares of Alignment Healthcare by 87.7% in the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company's stock valued at $33,000 after buying an additional 773 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Alignment Healthcare by 4.9% in the 2nd quarter. Tidal Investments LLC now owns 18,094 shares of the company's stock valued at $253,000 after buying an additional 852 shares during the period. Hedge funds and other institutional investors own 86.19% of the company's stock.

Alignment Healthcare Company Profile

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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