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

Alignment Healthcare, Inc. (NASDAQ:ALHCGet Rating) has been given a consensus recommendation of “Buy” by the ten brokerages that are covering the company, MarketBeat reports. Ten equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have covered the stock in the last year is $17.89.

ALHC has been the subject of several research analyst reports. Bank of America upgraded Alignment Healthcare from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $18.00 to $14.00 in a research report on Thursday, May 26th. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a research report on Thursday, May 5th. Morgan Stanley decreased their target price on Alignment Healthcare from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, June 7th. Piper Sandler decreased 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. Finally, The Goldman Sachs Group decreased their price objective on Alignment Healthcare from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, March 15th.

Shares of NASDAQ:ALHC opened at $11.37 on Friday. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 0.52. The firm’s 50 day moving average price is $10.32 and its 200-day moving average price is $10.31. The stock has a market capitalization of $2.13 billion, a PE ratio of -11.26 and a beta of 2.52. Alignment Healthcare has a twelve month low of $6.14 and a twelve month high of $27.74.

Alignment Healthcare (NASDAQ:ALHCGet Rating) last released 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%. The business had revenue of $345.53 million during the quarter, compared to the consensus estimate of $332.93 million. During the same period last year, the company earned ($0.37) earnings per share. Analysts expect that Alignment Healthcare will post -0.97 earnings per share for the current fiscal year.

In other news, insider Donald Steven Furman sold 3,006 shares of the business’s stock in a transaction dated Thursday, March 31st. The stock was sold at an average price of $11.18, for a total transaction of $33,607.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Dawn Christine Maroney sold 13,782 shares of the business’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $11.10, for a total value of $152,980.20. Following the sale, the insider now owns 1,674,009 shares in the company, valued at approximately $18,581,499.90. The disclosure for this sale can be found here. Insiders sold 63,840 shares of company stock valued at $712,156 over the last quarter.

Several hedge funds have recently modified their holdings of ALHC. Royal Bank of Canada grew its stake in shares of 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 acquiring an additional 804 shares during the last quarter. Citigroup Inc. grew its stake in shares of 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 acquiring an additional 1,532 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Alignment Healthcare by 1.4% during 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. Invesco Ltd. boosted its position in Alignment Healthcare by 37.2% in the third quarter. Invesco Ltd. now owns 36,207 shares of the company’s stock valued at $579,000 after buying an additional 9,820 shares during the last quarter. Finally, Morgan Stanley boosted its position in Alignment Healthcare by 41.5% in the third quarter. Morgan Stanley now owns 973,869 shares of the company’s stock valued at $15,563,000 after buying an additional 285,583 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Alignment Healthcare Company Profile (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.

Featured Stories

Analyst Recommendations for Alignment Healthcare (NASDAQ:ALHC)

Want More Great Investing Ideas?

Receive News & Ratings for Alignment Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alignment Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.