Q2 2024 Earnings Estimate for Alignment Healthcare, Inc. Issued By Leerink Partnrs (NASDAQ:ALHC)

Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) - Stock analysts at Leerink Partnrs reduced their Q2 2024 earnings per share estimates for Alignment Healthcare in a report issued on Sunday, May 5th. Leerink Partnrs analyst W. Mayo now expects that the company will post earnings of ($0.13) per share for the quarter, down from their prior estimate of ($0.06). The consensus estimate for Alignment Healthcare's current full-year earnings is ($0.60) per share. Leerink Partnrs also issued estimates for Alignment Healthcare's Q3 2024 earnings at ($0.14) EPS, Q4 2024 earnings at ($0.20) EPS, FY2024 earnings at ($0.71) EPS, Q1 2025 earnings at ($0.18) EPS, Q2 2025 earnings at ($0.05) EPS, Q3 2025 earnings at ($0.06) EPS, Q4 2025 earnings at ($0.14) EPS, FY2025 earnings at ($0.43) EPS, FY2026 earnings at ($0.19) EPS, FY2027 earnings at $0.13 EPS and FY2028 earnings at $0.43 EPS.

ALHC has been the topic of several other research reports. Stifel Nicolaus lowered their price target on Alignment Healthcare from $11.00 to $9.00 and set a "buy" rating on the stock in a research report on Tuesday, April 23rd. William Blair restated an "outperform" rating on shares of Alignment Healthcare in a report on Wednesday, March 6th. UBS Group cut their price target on shares of Alignment Healthcare from $9.00 to $8.50 and set a "neutral" rating for the company in a research note on Wednesday, February 28th. Raymond James boosted their price objective on shares of Alignment Healthcare from $10.00 to $12.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 9th. Finally, Stephens raised their target price on shares of Alignment Healthcare from $6.00 to $7.00 and gave the company an "equal weight" rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $8.69.

Alignment Healthcare Stock Down 1.3 %

ALHC traded down $0.09 during trading hours on Wednesday, hitting $6.78. 1,636,901 shares of the company's stock were exchanged, compared to its average volume of 920,305. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -8.20 and a beta of 1.23. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $9.20. The stock's 50-day moving average is $5.13 and its two-hundred day moving average is $6.52. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.23.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.01). The firm had revenue of $628.60 million during the quarter, compared to the consensus estimate of $599.75 million. Alignment Healthcare had a negative net margin of 7.81% and a negative return on equity of 91.06%. The business's revenue for the quarter was up 43.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.20) earnings per share.

Insiders Place Their Bets

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 23,000 shares of Alignment Healthcare stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $5.44, for a total value of $125,120.00. Following the completion of the sale, the insider now owns 1,830,008 shares in the company, valued at approximately $9,955,243.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Dawn Christine Maroney sold 23,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $5.44, for a total transaction of $125,120.00. Following the sale, the insider now owns 1,830,008 shares of the company's stock, valued at $9,955,243.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John E. Kao acquired 103,000 shares of the stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $4.82 per share, for a total transaction of $496,460.00. Following the purchase, the chief executive officer now owns 2,745,253 shares in the company, valued at $13,232,119.46. The disclosure for this purchase can be found here. Insiders have sold 90,213 shares of company stock worth $460,587 in the last 90 days. Company insiders own 6.30% of the company's stock.

Institutional Trading of Alignment Healthcare

Institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. lifted its position in shares of Alignment Healthcare by 47.4% during the 1st quarter. Blue Trust Inc. now owns 256,452 shares of the company's stock worth $1,272,000 after buying an additional 82,476 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Alignment Healthcare by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company's stock worth $196,000 after acquiring an additional 3,334 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Alignment Healthcare in the 1st quarter valued at approximately $57,000. Assenagon Asset Management S.A. boosted its stake in shares of Alignment Healthcare by 283.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 315,629 shares of the company's stock valued at $1,566,000 after purchasing an additional 233,417 shares in the last quarter. Finally, Aigen Investment Management LP grew its holdings in shares of Alignment Healthcare by 18.5% during the 4th quarter. Aigen Investment Management LP now owns 19,764 shares of the company's stock valued at $170,000 after purchasing an additional 3,092 shares during the last quarter. Institutional investors own 86.19% of the company's stock.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.