Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC – Get Rating) have earned a consensus rating of “Buy” from the ten brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $18.75.

Several research firms have weighed in on ALHC. Cowen reduced their target price on Alignment Healthcare from $24.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, March 4th. Zacks Investment Research downgraded Alignment Healthcare from a “buy” rating to a “hold” rating in a research note on Monday, May 9th. SVB Leerink initiated coverage on Alignment Healthcare in a research note on Monday, April 4th. They issued an “outperform” rating and a $19.00 price target on the stock. Morgan Stanley dropped their price target on Alignment Healthcare from $25.00 to $21.00 and set an “overweight” rating on the stock in a research note on Monday, March 7th. Finally, Piper Sandler dropped their price target on Alignment Healthcare from $25.00 to $15.00 and set an “overweight” rating on the stock in a research note on Thursday, February 24th.

In other Alignment Healthcare news, CEO John E. Kao sold 26,366 shares of the business’s stock in a transaction that occurred on Thursday, March 31st. The stock was sold at an average price of $11.18, for a total transaction of $294,771.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Robert Thomas Freeman sold 4,944 shares of the business’s stock in a transaction that occurred on Thursday, March 31st. The stock was sold at an average price of $11.18, for a total value of $55,273.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,908 shares of company stock worth $401,451.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Alignment Healthcare by 0.8% during the first quarter. Vanguard Group Inc. now owns 6,176,491 shares of the company’s stock worth $69,362,000 after buying an additional 50,997 shares during the last quarter. Durable Capital Partners LP boosted its holdings in shares of Alignment Healthcare by 2,079.2% during the first quarter. Durable Capital Partners LP now owns 5,908,220 shares of the company’s stock worth $66,349,000 after acquiring an additional 5,637,102 shares during the period. BlackRock Inc. boosted its holdings in shares of Alignment Healthcare by 48.3% during the fourth quarter. BlackRock Inc. now owns 4,525,987 shares of the company’s stock worth $63,635,000 after acquiring an additional 1,473,204 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Alignment Healthcare by 101.2% during the fourth quarter. Alliancebernstein L.P. now owns 4,469,275 shares of the company’s stock worth $62,838,000 after acquiring an additional 2,248,417 shares during the period. Finally, Brown Advisory Inc. boosted its holdings in shares of Alignment Healthcare by 37.6% during the first quarter. Brown Advisory Inc. now owns 3,558,235 shares of the company’s stock worth $40,000,000 after acquiring an additional 971,529 shares during the period. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

ALHC stock opened at $10.39 on Wednesday. The business’s 50-day moving average price is $10.22 and its two-hundred day moving average price is $11.43. The company has a current ratio of 2.90, a quick ratio of 3.31 and a debt-to-equity ratio of 0.52. The firm has a market cap of $1.95 billion, a PE ratio of -10.29 and a beta of 2.54. Alignment Healthcare has a 1-year low of $6.14 and a 1-year high of $27.92.

Alignment Healthcare (NASDAQ:ALHC – Get Rating) last posted its earnings results on Thursday, May 5th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.01. Alignment Healthcare had a negative return on equity of 56.68% and a negative net margin of 14.38%. During the same quarter last year, the firm earned ($0.37) EPS. On average, analysts forecast that Alignment Healthcare will post -0.98 earnings per share for the current year.

About Alignment Healthcare (Get Rating)

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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