JPMorgan Chase & Co. Issues Positive Forecast for Alignment Healthcare (NASDAQ:ALHC) Stock Price

Alignment Healthcare (NASDAQ:ALHC) had its target price increased by JPMorgan Chase & Co. from $23.00 to $26.00 in a report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other research firms have also weighed in on ALHC. Wall Street Zen lowered Alignment Healthcare from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alignment Healthcare in a research report on Wednesday, January 21st. Zacks Research lowered shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. KeyCorp reaffirmed an “overweight” rating and issued a $28.00 target price on shares of Alignment Healthcare in a research note on Thursday, January 22nd. Finally, Robert W. Baird set a $28.00 price target on shares of Alignment Healthcare in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.32.

Alignment Healthcare Stock Performance

Shares of Alignment Healthcare stock opened at $21.15 on Thursday. The firm has a fifty day moving average of $20.74 and a two-hundred day moving average of $17.70. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.61 and a current ratio of 1.61. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of -176.25, a PEG ratio of 5.62 and a beta of 1.16. Alignment Healthcare has a 52 week low of $11.63 and a 52 week high of $23.87.

Insider Activity

In related news, President Dawn Christine Maroney sold 282,070 shares of the company’s stock in a transaction on Monday, December 29th. The shares were sold at an average price of $18.74, for a total value of $5,285,991.80. Following the completion of the transaction, the president directly owned 1,385,167 shares of the company’s stock, valued at approximately $25,958,029.58. This represents a 16.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John E. Kao sold 605,648 shares of the stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $18.74, for a total value of $11,349,843.52. Following the transaction, the chief executive officer owned 2,234,294 shares of the company’s stock, valued at approximately $41,870,669.56. This trade represents a 21.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 2,103,532 shares of company stock worth $40,529,538 over the last quarter. 7.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in Alignment Healthcare by 167.3% in the 3rd quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company’s stock valued at $193,516,000 after acquiring an additional 6,940,277 shares in the last quarter. Invesco Ltd. lifted its position in shares of Alignment Healthcare by 122.3% in the second quarter. Invesco Ltd. now owns 4,170,529 shares of the company’s stock worth $58,387,000 after purchasing an additional 2,294,739 shares in the last quarter. Danica Pension Livsforsikringsaktieselskab acquired a new position in Alignment Healthcare during the fourth quarter worth $39,500,000. Assenagon Asset Management S.A. grew its position in Alignment Healthcare by 6,708.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,774,975 shares of the company’s stock valued at $35,056,000 after purchasing an additional 1,748,903 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Alignment Healthcare by 10.9% in the 4th quarter. Vanguard Group Inc. now owns 15,492,802 shares of the company’s stock valued at $305,983,000 after buying an additional 1,524,218 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors.

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.