Alignment Healthcare, Inc. (NASDAQ:ALHC) Expected to Announce Quarterly Sales of $336.59 Million

Analysts expect Alignment Healthcare, Inc. (NASDAQ:ALHCGet Rating) to post $336.59 million in sales for the current quarter, Zacks reports. Seven analysts have issued 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 in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.9%. The firm is expected to issue its next 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 financial year, with estimates ranging from $1.34 billion to $1.35 billion. For the next financial year, analysts forecast that the company will report sales of $1.63 billion, with estimates ranging from $1.55 billion to $1.71 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Alignment Healthcare.

Alignment Healthcare (NASDAQ:ALHCGet Rating) last announced its earnings results on Thursday, May 5th. The company reported ($0.23) EPS for the quarter, beating 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 analysts’ expectations of $332.93 million. During the same period last year, the business posted ($0.37) EPS.

A number of equities research analysts have issued reports on ALHC shares. The Goldman Sachs Group reduced their price target on Alignment Healthcare from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, March 15th. Morgan Stanley reduced their price target on Alignment Healthcare from $25.00 to $21.00 and set an “overweight” rating on the stock in a research report on Monday, March 7th. SVB Leerink initiated coverage on Alignment Healthcare in a research report on Monday, April 4th. They issued an “outperform” rating and a $19.00 price target on the stock. Zacks Investment Research lowered Alignment Healthcare from a “buy” rating to a “hold” rating in a research report on Monday, May 9th. Finally, Piper Sandler cut their target price on Alignment Healthcare from $25.00 to $15.00 and set an “overweight” rating on the stock in a research report on Thursday, February 24th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alignment Healthcare currently has an average rating of “Buy” and a consensus target price of $17.50.

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 13,782 shares of Alignment Healthcare stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $11.10, for a total value of $152,980.20. Following the transaction, the insider now directly owns 1,674,009 shares in the company, valued at approximately $18,581,499.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald Steven Furman sold 3,006 shares of Alignment Healthcare stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of $11.18, for a total value of $33,607.08. The disclosure for this sale can be found here. Insiders sold a total of 49,690 shares of company stock worth $554,432 over the last quarter.

A number of hedge funds have recently modified their holdings of ALHC. Royal Bank of Canada raised its holdings in Alignment Healthcare by 26.8% during the second quarter. Royal Bank of Canada now owns 3,804 shares of the company’s stock worth $89,000 after purchasing an additional 804 shares during the last quarter. Citigroup Inc. raised its holdings in Alignment Healthcare by 104.2% during the third quarter. Citigroup Inc. now owns 3,002 shares of the company’s stock worth $48,000 after purchasing an additional 1,532 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Alignment Healthcare by 1.7% during the third quarter. Goldman Sachs Group Inc. now owns 970,006 shares of the company’s stock worth $15,501,000 after purchasing an additional 16,580 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Alignment Healthcare by 1.4% in the third quarter. Geode Capital Management LLC now owns 592,579 shares of the company’s stock worth $9,469,000 after acquiring an additional 8,060 shares during the last quarter. Finally, Hood River Capital Management LLC raised its holdings in shares of 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 worth $24,539,000 after acquiring an additional 209,969 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

ALHC stock traded down $0.12 during mid-day trading on Thursday, reaching $11.12. The company had a trading volume of 345,171 shares, compared to its average volume of 395,418. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.90 and a quick ratio of 2.90. The firm has a fifty day simple moving average of $10.34 and a 200 day simple moving average of $10.82. Alignment Healthcare has a fifty-two week low of $6.14 and a fifty-two week 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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