Alignment Healthcare, Inc. (NASDAQ:ALHC – Get Rating) has been given a consensus recommendation of “Buy” by the nine research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $18.75.
Several research analysts recently issued reports on ALHC shares. Raymond James cut their price objective on Alignment Healthcare from $30.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, January 12th. Zacks Investment Research downgraded Alignment Healthcare from a “buy” rating to a “hold” rating in a research report on Wednesday, January 12th. Morgan Stanley cut their price objective on Alignment Healthcare from $25.00 to $21.00 and set an “overweight” rating for the company in a research report on Monday, March 7th. The Goldman Sachs Group cut their price objective on Alignment Healthcare from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, March 15th. Finally, SVB Leerink started coverage on Alignment Healthcare in a research report on Monday, April 4th. They set an “outperform” rating and a $19.00 price objective for the company.
Shares of NASDAQ:ALHC opened at $9.61 on Friday. The business’s 50 day simple moving average is $9.98 and its 200-day simple moving average is $12.68. The firm has a market capitalization of $1.80 billion and a price-to-earnings ratio of -8.36. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.31 and a quick ratio of 3.31. Alignment Healthcare has a 12 month low of $6.14 and a 12 month high of $28.59.
Alignment Healthcare (NASDAQ:ALHC – Get Rating) last announced its quarterly earnings results on Thursday, March 3rd. The company reported ($0.27) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.01. The business had revenue of $298.27 million for the quarter, compared to analyst estimates of $270.81 million. Alignment Healthcare had a negative return on equity of 58.92% and a negative net margin of 16.72%. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. On average, equities analysts anticipate that Alignment Healthcare will post -0.9 earnings per share for the current year.
In related news, CFO Robert Thomas Freeman sold 4,944 shares of the company’s stock in a transaction on Thursday, March 31st. The shares were sold at an average price of $11.18, for a total transaction of $55,273.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John E. Kao sold 26,366 shares of the company’s stock in a transaction on Thursday, March 31st. The stock was sold at an average price of $11.18, for a total transaction of $294,771.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,908 shares of company stock valued at $401,451.
Institutional investors have recently made changes to their positions in the stock. UBS Group AG boosted its position in Alignment Healthcare by 156.9% during the 3rd quarter. UBS Group AG now owns 1,734 shares of the company’s stock worth $28,000 after purchasing an additional 1,059 shares during the period. Nisa Investment Advisors LLC purchased a new position in Alignment Healthcare in the 1st quarter valued at about $34,000. Citigroup Inc. boosted its position in Alignment Healthcare by 104.2% in the 3rd quarter. Citigroup Inc. now owns 3,002 shares of the company’s stock valued at $48,000 after buying an additional 1,532 shares during the last quarter. Royal Bank of Canada boosted its position in Alignment Healthcare by 26.8% in the 2nd quarter. Royal Bank of Canada now owns 3,804 shares of the company’s stock valued at $89,000 after buying an additional 804 shares during the last quarter. Finally, First Quadrant LLC CA purchased a new position in Alignment Healthcare in the 1st quarter valued at about $47,000. 80.56% of the stock is owned by hedge funds and other institutional investors.
About Alignment Healthcare (Get Rating)
Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform. It provides customized health care in the United States to seniors and those who need it through its Medicare advantage plans. The company owns Medicare advantage plans in the states of California, North Carolina, and Nevada.
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