Alignment Healthcare (NASDAQ:ALHC) Price Target Raised to $12.00 at UBS Group

Alignment Healthcare (NASDAQ:ALHC) had its target price upped by research analysts at UBS Group from $9.00 to $12.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price indicates a potential upside of 6.67% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. Stifel Nicolaus upped their price target on Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Piper Sandler reiterated an “overweight” rating and set a $10.00 target price (up previously from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. KeyCorp began coverage on shares of Alignment Healthcare in a research note on Friday, October 11th. They set a “sector weight” rating on the stock. Robert W. Baird boosted their target price on Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Finally, Barclays upped their price target on shares of Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.22.

Alignment Healthcare Stock Down 3.9 %

NASDAQ ALHC traded down $0.46 during trading on Wednesday, reaching $11.25. The company’s stock had a trading volume of 72,134 shares, compared to its average volume of 1,009,668. The stock has a market capitalization of $2.15 billion, a PE ratio of -13.51 and a beta of 1.47. The business has a 50-day moving average price of $10.62 and a 200-day moving average price of $8.69. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.70. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $12.36.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.14). Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The company had revenue of $692.43 million for the quarter, compared to the consensus estimate of $662.11 million. During the same period last year, the business posted ($0.19) earnings per share. The firm’s revenue was up 51.6% compared to the same quarter last year. On average, research analysts forecast that Alignment Healthcare will post -0.67 earnings per share for the current fiscal year.

Insider Activity at Alignment Healthcare

In related news, CFO Robert Thomas Freeman sold 30,500 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $11.50, for a total transaction of $350,750.00. Following the transaction, the chief financial officer now directly owns 164,109 shares in the company, valued at approximately $1,887,253.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alignment Healthcare news, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $11.33, for a total transaction of $1,019,700.00. Following the completion of the sale, the chief executive officer now directly owns 2,543,100 shares in the company, valued at $28,813,323. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Robert Thomas Freeman sold 30,500 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $11.50, for a total value of $350,750.00. Following the completion of the transaction, the chief financial officer now directly owns 164,109 shares in the company, valued at $1,887,253.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 314,940 shares of company stock valued at $3,487,014. 6.60% of the stock is owned by insiders.

Institutional Trading of Alignment Healthcare

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. bought a new position in shares of Alignment Healthcare in the first quarter worth $918,000. Vanguard Group Inc. raised its position in shares of Alignment Healthcare by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock valued at $45,828,000 after buying an additional 93,262 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its holdings in shares of Alignment Healthcare by 31.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after acquiring an additional 2,630,788 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Alignment Healthcare by 27.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock worth $2,991,000 after acquiring an additional 82,559 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new position in Alignment Healthcare in the first quarter valued at approximately $57,000. Institutional investors and hedge funds own 86.19% 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.