Orbimed Advisors LLC Acquires New Shares in Alignment Healthcare, Inc. $ALHC

Key Points

• Orbimed Advisors acquired 791,000 shares of Alignment Healthcare in the first quarter, worth approximately $13.9 million and representing about 0.38% of the company. Overall, hedge funds and institutional investors own 86.19% of ALHC.
• Analysts maintain a generally positive outlook, with six Buy ratings and four Holds producing a consensus “Moderate Buy” rating and a $24.30 price target. Barclays lowered its target to $16 while other analysts cited targets as high as $22.
• Alignment Healthcare reported quarterly revenue of $1.24 billion, up 33.3% year over year, and earnings of $0.05 per share versus the $0.01 consensus estimate. However, insiders sold roughly 1.04 million shares worth $20.0 million over the past 90 days.

Orbimed Advisors LLC bought a new position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 791,000 shares of the company's stock, valued at approximately $13,937,000. Orbimed Advisors LLC owned about 0.38% of Alignment Healthcare at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Granahan Investment Management LLC lifted its holdings in shares of Alignment Healthcare by 4.1% during the 1st quarter. Granahan Investment Management LLC now owns 780,500 shares of the company's stock valued at $13,752,000 after buying an additional 31,013 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Alignment Healthcare by 8.8% in the first quarter. Renaissance Technologies LLC now owns 2,903,100 shares of the company's stock worth $51,153,000 after buying an additional 235,900 shares during the last quarter. Gabelli Funds LLC bought a new position in Alignment Healthcare during the first quarter valued at approximately $440,000. Inceptionr LLC bought a new position in Alignment Healthcare during the first quarter valued at approximately $300,000. Finally, Sei Investments Co. lifted its stake in Alignment Healthcare by 66.7% in the first quarter. Sei Investments Co. now owns 739,063 shares of the company's stock valued at $13,022,000 after acquiring an additional 295,634 shares during the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALHC has been the topic of several analyst reports. Barclays dropped their price target on shares of Alignment Healthcare from $19.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 26th. Wall Street Zen raised shares of 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 report on Thursday, May 7th. KeyCorp reiterated an "overweight" rating on shares of Alignment Healthcare in a research note on Wednesday, June 10th. Finally, Weiss Ratings raised Alignment Healthcare from a "sell (d-)" rating to a "hold (c-)" rating in a report on Thursday, May 7th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $24.30.

Alignment Healthcare Stock Performance

NASDAQ:ALHC opened at $19.43 on Monday. The firm has a market capitalization of $4.02 billion, a PE ratio of 215.89, a PEG ratio of 2.62 and a beta of 1.05. Alignment Healthcare, Inc. has a 1 year low of $11.66 and a 1 year high of $25.12. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.56. The firm's fifty day simple moving average is $19.57 and its 200 day simple moving average is $19.87.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released 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 quarter in the previous year, the business earned ($0.05) EPS. The business's revenue was up 33.3% on a year-over-year basis. On average, sell-side analysts anticipate that Alignment Healthcare, Inc. will post 0.2 EPS for the current year.

Insiders Place Their Bets

In other Alignment Healthcare news, President Dawn Christine Maroney sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $16.09, for a total value of $482,700.00. Following the sale, the president owned 998,813 shares of the company's stock, valued at $16,070,901.17. This trade represents a 2.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 that occurred 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 transaction, the insider directly owned 331,750 shares in the company, valued at approximately $6,588,555. This represents a 9.78% decrease in their ownership of the stock. 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 1,039,951 shares of company stock valued at $19,976,967 in the last ninety days. Company insiders own 5.20% 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.

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