Alignment Healthcare (NASDAQ:ALHC) Price Target Increased to $7.00 by Analysts at Stephens

Alignment Healthcare (NASDAQ:ALHC) had its price target upped by Stephens from $6.00 to $7.00 in a research report report published on Friday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also weighed in on ALHC. Piper Sandler reissued a neutral rating and issued a $6.00 price objective (down previously from $12.00) on shares of Alignment Healthcare in a report on Wednesday, March 6th. Barclays began coverage on shares of Alignment Healthcare in a research note on Wednesday, March 6th. They issued an underweight rating and a $4.50 target price for the company. Raymond James upped their price target on shares of Alignment Healthcare from $10.00 to $12.00 and gave the company a strong-buy rating in a research note on Tuesday, January 9th. William Blair reiterated an outperform rating on shares of Alignment Healthcare in a research note on Wednesday, March 6th. Finally, UBS Group dropped their target price on Alignment Healthcare from $9.00 to $8.50 and set a neutral rating on the stock in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $8.47.

Alignment Healthcare Stock Performance

NASDAQ ALHC opened at $6.78 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.57 and a current ratio of 1.57. The company has a market capitalization of $1.29 billion, a PE ratio of -8.07 and a beta of 1.23. Alignment Healthcare has a 52-week low of $4.46 and a 52-week high of $9.20. The company has a 50-day simple moving average of $5.12 and a 200 day simple moving average of $6.53.

Alignment Healthcare (NASDAQ:ALHC) last posted 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). Alignment Healthcare had a negative return on equity of 91.06% and a negative net margin of 7.81%. The company had revenue of $628.60 million during the quarter, compared to the consensus estimate of $599.75 million. During the same period last year, the firm posted ($0.20) EPS. The company’s revenue for the quarter was up 43.1% compared to the same quarter last year. On average, research analysts predict that Alignment Healthcare will post -0.6 EPS for the current year.

Insider Transactions at Alignment Healthcare

In related news, insider Dawn Christine Maroney sold 15,861 shares of Alignment Healthcare stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $5.05, for a total transaction of $80,098.05. Following the completion of the sale, the insider now owns 1,999,500 shares of the company’s stock, valued at $10,097,475. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Alignment Healthcare news, insider Dawn Christine Maroney sold 15,861 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $5.05, for a total value of $80,098.05. Following the completion of the transaction, the insider now owns 1,999,500 shares of the company’s stock, valued at approximately $10,097,475. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Robert Thomas Freeman sold 11,858 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $4.89, for a total transaction of $57,985.62. Following the completion of the transaction, the chief financial officer now directly owns 898,228 shares in the company, valued at approximately $4,392,334.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,213 shares of company stock valued at $460,587. 6.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alignment Healthcare

Several institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Alignment Healthcare by 75.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,427 shares of the company’s stock valued at $183,000 after purchasing an additional 11,370 shares during the period. Mackenzie Financial Corp raised its stake in shares of Alignment Healthcare by 38.1% during the third quarter. Mackenzie Financial Corp now owns 31,069 shares of the company’s stock valued at $218,000 after acquiring an additional 8,577 shares during the last quarter. Strs Ohio boosted its holdings in shares of Alignment Healthcare by 24.2% during the third quarter. Strs Ohio now owns 85,700 shares of the company’s stock worth $594,000 after purchasing an additional 16,700 shares during the period. TD Asset Management Inc grew its stake in shares of Alignment Healthcare by 35.5% in the third quarter. TD Asset Management Inc now owns 348,450 shares of the company’s stock worth $2,418,000 after purchasing an additional 91,386 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in Alignment Healthcare by 16.8% during the 3rd quarter. Panagora Asset Management Inc. now owns 345,798 shares of the company’s stock valued at $2,400,000 after purchasing an additional 49,716 shares during the period. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

About Alignment Healthcare

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.