Equities Analysts Offer Predictions for Alignment Healthcare, Inc.’s Q2 2024 Earnings (NASDAQ:ALHC)

Alignment Healthcare, Inc. (NASDAQ:ALHC) – Leerink Partnrs decreased their Q2 2024 earnings estimates for shares of Alignment Healthcare in a research report issued to clients and investors on Sunday, May 5th. Leerink Partnrs analyst W. Mayo now expects that the company will earn ($0.13) per share for the quarter, down from their prior forecast of ($0.06). The consensus estimate for Alignment Healthcare’s current full-year earnings is ($0.60) per share. Leerink Partnrs also issued estimates for Alignment Healthcare’s Q3 2024 earnings at ($0.14) EPS, Q4 2024 earnings at ($0.20) EPS, FY2024 earnings at ($0.71) EPS, Q1 2025 earnings at ($0.18) EPS, Q2 2025 earnings at ($0.05) EPS, Q3 2025 earnings at ($0.06) EPS, Q4 2025 earnings at ($0.14) EPS, FY2025 earnings at ($0.43) EPS, FY2026 earnings at ($0.19) EPS, FY2027 earnings at $0.13 EPS and FY2028 earnings at $0.43 EPS.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Alignment Healthcare had a negative return on equity of 91.06% and a negative net margin of 7.81%. The business had revenue of $628.60 million during the quarter, compared to the consensus estimate of $599.75 million. During the same quarter in the previous year, the business posted ($0.20) earnings per share. The company’s quarterly revenue was up 43.1% compared to the same quarter last year.

A number of other research analysts also recently issued reports on the stock. UBS Group reduced their price target on shares of Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Barclays assumed coverage on shares of Alignment Healthcare in a research report on Wednesday, March 6th. They issued an “underweight” rating and a $4.50 price target on the stock. Stifel Nicolaus cut their price objective on shares of Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. Stephens lifted their price objective on shares of Alignment Healthcare from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Finally, Piper Sandler upgraded shares of Alignment Healthcare from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $6.00 to $8.00 in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alignment Healthcare currently has an average rating of “Moderate Buy” and an average target price of $8.69.

Alignment Healthcare Trading Up 1.9 %

Alignment Healthcare stock opened at $6.91 on Wednesday. The firm’s 50-day moving average is $5.15 and its 200-day moving average is $6.52. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.57 and a current ratio of 1.57. Alignment Healthcare has a 1 year low of $4.46 and a 1 year high of $9.20. The company has a market cap of $1.32 billion, a P/E ratio of -8.23 and a beta of 1.23.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds have recently made changes to their positions in ALHC. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Alignment Healthcare by 75.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,427 shares of the company’s stock worth $183,000 after purchasing an additional 11,370 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Alignment Healthcare by 38.1% in the 3rd quarter. Mackenzie Financial Corp now owns 31,069 shares of the company’s stock worth $218,000 after purchasing an additional 8,577 shares during the last quarter. Strs Ohio grew its stake in shares of Alignment Healthcare by 24.2% in the 3rd quarter. Strs Ohio now owns 85,700 shares of the company’s stock worth $594,000 after purchasing an additional 16,700 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Alignment Healthcare by 35.5% in the 3rd quarter. TD Asset Management Inc now owns 348,450 shares of the company’s stock worth $2,418,000 after purchasing an additional 91,386 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its stake in shares of Alignment Healthcare by 16.8% in the 3rd quarter. Panagora Asset Management Inc. now owns 345,798 shares of the company’s stock worth $2,400,000 after purchasing an additional 49,716 shares during the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 23,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $5.44, for a total transaction of $125,120.00. Following the transaction, the insider now owns 1,830,008 shares of the company’s stock, valued at approximately $9,955,243.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Alignment Healthcare news, insider Dawn Christine Maroney sold 23,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $5.44, for a total transaction of $125,120.00. Following the transaction, the insider now owns 1,830,008 shares of the company’s stock, valued at approximately $9,955,243.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John E. Kao bought 103,000 shares of the stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $4.82 per share, for a total transaction of $496,460.00. Following the purchase, the chief executive officer now owns 2,745,253 shares in the company, valued at approximately $13,232,119.46. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 90,213 shares of company stock valued at $460,587. Company insiders own 6.30% of the company’s stock.

About Alignment Healthcare

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.