Orbimed Advisors LLC Makes New Investment in Alignment Healthcare, Inc. $ALHC

Orbimed Advisors LLC purchased a new position in Alignment Healthcare, Inc. (NASDAQ:ALHC) during the 1st quarter, Holdings Channel reports. The firm purchased 791,000 shares of the company’s stock, valued at approximately $13,937,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ALHC. Wellington Management Group LLP lifted its stake in shares of Alignment Healthcare by 167.3% in the third quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company’s stock valued at $193,516,000 after buying an additional 6,940,277 shares during the period. Bank of New York Mellon Corp raised its holdings in Alignment Healthcare by 232.5% in the 1st quarter. Bank of New York Mellon Corp now owns 3,313,110 shares of the company’s stock valued at $58,377,000 after acquiring an additional 2,316,777 shares in the last quarter. Invesco Ltd. raised its holdings in Alignment Healthcare by 122.3% in the 2nd quarter. Invesco Ltd. now owns 4,170,529 shares of the company’s stock valued at $58,387,000 after acquiring an additional 2,294,739 shares in the last quarter. Capital World Investors acquired a new position in Alignment Healthcare in the 4th quarter valued at approximately $44,203,000. Finally, Loomis Sayles & Co. L P bought a new stake in shares of Alignment Healthcare in the 4th quarter worth approximately $44,162,000. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Stock Performance

ALHC stock opened at $19.43 on Monday. 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 business’s 50 day moving average is $19.57 and its 200-day moving average is $19.87. The firm has a market cap of $4.02 billion, a P/E ratio of 215.89, a P/E/G ratio of 2.62 and a beta of 1.05.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Thursday, April 30th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.Alignment Healthcare’s revenue was up 33.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.05) EPS. Equities analysts anticipate that Alignment Healthcare, Inc. will post 0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ALHC has been the topic of several recent research reports. Weiss Ratings raised Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Zacks Research downgraded shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Wolfe Research started coverage on shares of Alignment Healthcare in a report on Friday, April 17th. They issued an “outperform” rating and a $24.00 price target on the stock. Raymond James Financial set a $22.00 price target on shares of Alignment Healthcare in a report on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Alignment Healthcare currently has an average rating of “Moderate Buy” and a consensus target price of $24.30.

Insider Activity

In other news, insider Hyong Kim sold 35,951 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $19.86, for a total value of $713,986.86. Following the sale, the insider owned 331,750 shares in the company, valued at approximately $6,588,555. The trade was a 9.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark D. Kent bought 14,848 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was purchased at an average cost of $13.31 per share, for a total transaction of $197,626.88. Following the acquisition, the insider owned 14,848 shares in the company, valued at $197,626.88. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders sold 1,039,951 shares of company stock valued at $19,976,967. 5.20% of the stock is owned by company insiders.

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.