Alignment Healthcare (NASDAQ:ALHC) Price Target Raised to $20.00 at Piper Sandler

Alignment Healthcare (NASDAQ:ALHCGet Rating) had its target price upped by Piper Sandler from $15.00 to $20.00 in a research note published on Friday, The Fly reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts also recently issued reports on the company. Bank of America raised Alignment Healthcare from a neutral rating to a buy rating and cut their target price for the stock from $18.00 to $14.00 in a research note on Thursday, May 26th. Morgan Stanley cut their target price on Alignment Healthcare from $21.00 to $18.00 and set an overweight rating for the company in a research note on Tuesday, June 7th. Finally, William Blair reaffirmed an outperform rating on shares of Alignment Healthcare in a research note on Thursday, May 5th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of $18.44.

Alignment Healthcare Stock Up 6.7 %

ALHC opened at $17.91 on Friday. The business has a 50 day moving average price of $12.68 and a two-hundred day moving average price of $10.47. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 0.52. Alignment Healthcare has a 52 week low of $6.14 and a 52 week high of $23.35.

Alignment Healthcare (NASDAQ:ALHCGet Rating) last issued its earnings results on Thursday, August 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.20. Alignment Healthcare had a negative return on equity of 47.40% and a negative net margin of 11.20%. During the same quarter in the prior year, the business posted ($0.25) earnings per share. On average, equities research analysts predict that Alignment Healthcare will post -1.09 EPS for the current fiscal year.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 13,782 shares of the stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $11.10, for a total transaction of $152,980.20. Following the sale, the insider now owns 1,674,009 shares in the company, valued at approximately $18,581,499.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Dawn Christine Maroney sold 13,782 shares of the firm’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $11.10, for a total transaction of $152,980.20. Following the sale, the insider now owns 1,674,009 shares in the company, valued at $18,581,499.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John E. Kao sold 49,152 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $14.60, for a total value of $717,619.20. Following the sale, the chief executive officer now owns 3,416,239 shares in the company, valued at approximately $49,877,089.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 272,667 shares of company stock worth $3,650,395. 5.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Alignment Healthcare

Several hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC purchased a new stake in Alignment Healthcare during the first quarter valued at about $34,000. First Quadrant LLC CA purchased a new stake in Alignment Healthcare during the first quarter valued at about $47,000. US Bancorp DE grew its position in Alignment Healthcare by 15.8% during the second quarter. US Bancorp DE now owns 6,704 shares of the company’s stock valued at $76,000 after acquiring an additional 914 shares during the period. Victory Capital Management Inc. grew its position in Alignment Healthcare by 10.4% during the first quarter. Victory Capital Management Inc. now owns 11,124 shares of the company’s stock valued at $107,000 after acquiring an additional 1,045 shares during the period. Finally, Ieq Capital LLC purchased a new stake in Alignment Healthcare during the first quarter valued at about $112,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Alignment Healthcare Company Profile

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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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