Alignment Healthcare (NASDAQ:ALHC) Cut to Outperform at Raymond James Financial

Raymond James Financial cut shares of Alignment Healthcare (NASDAQ:ALHC) from a strong-buy rating to an outperform rating in a report published on Monday morning, Marketbeat.com reports. The brokerage currently has $19.00 target price on the stock, down from their prior target price of $22.00.

A number of other analysts have also recently issued reports on ALHC. Wall Street Zen cut Alignment Healthcare from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings raised Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. UBS Group restated a “neutral” rating on shares of Alignment Healthcare in a research note on Wednesday, July 8th. Zacks Research downgraded Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Alignment Healthcare in a research report on Wednesday, June 10th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Alignment Healthcare presently has an average rating of “Moderate Buy” and an average price target of $23.60.

Alignment Healthcare Stock Performance

Shares of ALHC opened at $13.68 on Monday. The company has a market cap of $2.84 billion, a PE ratio of 72.00, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10. The firm has a 50-day moving average of $19.57 and a 200-day moving average of $19.59. Alignment Healthcare has a one year low of $13.05 and a one year high of $25.12. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.70 and a quick ratio of 1.70.

Alignment Healthcare (NASDAQ:ALHC) last issued its earnings results on Thursday, July 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. Alignment Healthcare had a net margin of 0.89% and a return on equity of 20.02%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the firm earned $0.07 EPS. Alignment Healthcare’s quarterly revenue was up 31.6% compared to the same quarter last year. As a group, equities analysts forecast that Alignment Healthcare will post 0.2 earnings per share for the current year.

Insider Activity

In other news, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $19.55, for a total transaction of $586,500.00. Following the transaction, the president owned 947,313 shares in the company, valued at approximately $18,519,969.15. This trade represents a 3.07% decrease in their ownership of the stock. 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 purchased 14,848 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were purchased at an average cost of $13.31 per share, with a total value of $197,626.88. Following the completion of 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 SEC filing for this purchase provides additional information. Over the last three months, insiders sold 1,039,951 shares of company stock valued at $19,976,967. Company insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new stake in shares of Alignment Healthcare during the fourth quarter worth $26,000. Versant Capital Management Inc grew its stake in shares of Alignment Healthcare by 463.3% in the second quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock valued at $33,000 after acquiring an additional 1,135 shares in the last quarter. Parallel Advisors LLC increased its position in Alignment Healthcare by 87.7% during the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock worth $33,000 after acquiring an additional 773 shares during the period. Larson Financial Group LLC bought a new position in Alignment Healthcare during the third quarter worth about $33,000. Finally, First Horizon Corp bought a new position in Alignment Healthcare during the fourth quarter worth about $39,000. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Company Profile

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.