$336.59 Million in Sales Expected for Alignment Healthcare, Inc. (NASDAQ:ALHC) This Quarter

Wall Street brokerages expect Alignment Healthcare, Inc. (NASDAQ:ALHCGet Rating) to announce sales of $336.59 million for the current quarter, according to Zacks. Seven analysts have made estimates for Alignment Healthcare’s earnings. The highest sales estimate is $339.56 million and the lowest is $328.40 million. Alignment Healthcare reported sales of $308.95 million during the same quarter last year, which would suggest a positive year over year growth rate of 8.9%. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Alignment Healthcare will report full year sales of $1.35 billion for the current fiscal year, with estimates ranging from $1.34 billion to $1.35 billion. For the next financial year, analysts expect that the firm will post sales of $1.63 billion, with estimates ranging from $1.55 billion to $1.71 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Alignment Healthcare.

Alignment Healthcare (NASDAQ:ALHCGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. The company had revenue of $345.53 million during the quarter, compared to analyst estimates of $332.93 million. During the same quarter in the previous year, the firm posted ($0.37) EPS.

Several brokerages have recently weighed in on ALHC. Piper Sandler cut their price objective on Alignment Healthcare from $25.00 to $15.00 and set an “overweight” rating for the company in a report on Thursday, February 24th. Cowen cut their price objective on Alignment Healthcare from $24.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, March 4th. Morgan Stanley cut their price objective on Alignment Healthcare from $25.00 to $21.00 and set an “overweight” rating for the company in a report on Monday, March 7th. SVB Leerink began coverage on Alignment Healthcare in a report on Monday, April 4th. They issued an “outperform” rating and a $19.00 price objective for the company. Finally, William Blair restated an “outperform” rating on shares of Alignment Healthcare in a report on Thursday, May 5th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Alignment Healthcare currently has a consensus rating of “Buy” and a consensus price target of $17.50.

In related news, insider Donald Steven Furman sold 3,006 shares of the company’s stock in a transaction on Thursday, March 31st. The stock was sold at an average price of $11.18, for a total transaction of $33,607.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John E. Kao sold 26,366 shares of the company’s stock in a transaction on Thursday, March 31st. The shares were sold at an average price of $11.18, for a total value of $294,771.88. The disclosure for this sale can be found here. Insiders have sold 35,908 shares of company stock worth $401,451 over the last three months.

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in Alignment Healthcare by 1.4% in the third quarter. Geode Capital Management LLC now owns 592,579 shares of the company’s stock valued at $9,469,000 after purchasing an additional 8,060 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in Alignment Healthcare in the third quarter valued at about $400,000. Hood River Capital Management LLC grew its stake in Alignment Healthcare by 15.8% in the third quarter. Hood River Capital Management LLC now owns 1,535,610 shares of the company’s stock valued at $24,539,000 after purchasing an additional 209,969 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Alignment Healthcare by 1.7% in the third quarter. Goldman Sachs Group Inc. now owns 970,006 shares of the company’s stock valued at $15,501,000 after purchasing an additional 16,580 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in Alignment Healthcare in the third quarter valued at about $2,382,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Shares of ALHC stock opened at $10.23 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.90 and a current ratio of 2.90. The firm has a market capitalization of $1.92 billion, a PE ratio of -10.13 and a beta of 2.54. The stock has a fifty day moving average of $10.32 and a two-hundred day moving average of $11.05. Alignment Healthcare has a 1 year low of $6.14 and a 1 year high of $27.92.

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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Earnings History and Estimates for Alignment Healthcare (NASDAQ:ALHC)

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