Alignment Healthcare (NASDAQ:ALHC) PT Raised to $11.00 at Robert W. Baird

Alignment Healthcare (NASDAQ:ALHC) had its price target lifted by research analysts at Robert W. Baird from $10.00 to $11.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 28.06% from the company’s current price.

Several other equities research analysts have also issued reports on ALHC. Stifel Nicolaus lifted their price target on Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a report on Friday, July 26th. Baird R W raised Alignment Healthcare to a “strong-buy” rating in a research note on Thursday, May 30th. Piper Sandler reissued an “overweight” rating and issued a $10.00 price objective (up from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. Barclays raised their price objective on Alignment Healthcare from $4.50 to $7.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Finally, TD Cowen raised their price objective on Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.05.

Alignment Healthcare Trading Down 0.9 %

Shares of NASDAQ ALHC opened at $8.59 on Wednesday. The firm has a market capitalization of $1.64 billion, a PE ratio of -10.23 and a beta of 1.43. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.23. Alignment Healthcare has a one year low of $4.46 and a one year high of $10.16. The business has a 50-day moving average price of $8.47 and a two-hundred day moving average price of $6.85.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.01. The business had revenue of $681.29 million during the quarter, compared to analyst estimates of $637.66 million. Alignment Healthcare had a negative return on equity of 95.55% and a negative net margin of 6.85%. The firm’s revenue was up 47.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.15) EPS. As a group, analysts predict that Alignment Healthcare will post -0.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Dawn Christine Maroney sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $8.21, for a total transaction of $164,200.00. Following the sale, the insider now directly owns 1,956,097 shares in the company, valued at $16,059,556.37. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Christopher J. Joyce sold 16,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $8.01, for a total transaction of $128,160.00. Following the sale, the insider now directly owns 422,912 shares in the company, valued at $3,387,525.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Dawn Christine Maroney sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $8.21, for a total value of $164,200.00. Following the sale, the insider now owns 1,956,097 shares in the company, valued at $16,059,556.37. The disclosure for this sale can be found here. Insiders have sold a total of 226,554 shares of company stock valued at $2,154,152 in the last three months. Company insiders own 6.60% of the company’s stock.

Institutional Trading of Alignment Healthcare

A number of institutional investors and hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp increased its position in shares of Alignment Healthcare by 110.0% during the second quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock valued at $286,000 after purchasing an additional 19,129 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Alignment Healthcare by 20.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock valued at $434,000 after buying an additional 9,595 shares in the last quarter. Deerfield Management Company L.P. Series C boosted its stake in Alignment Healthcare by 31.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock valued at $85,250,000 after buying an additional 2,630,788 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Alignment Healthcare in the 2nd quarter valued at $1,512,000. Finally, Hood River Capital Management LLC boosted its stake in Alignment Healthcare by 6.4% in the 2nd quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock valued at $24,294,000 after buying an additional 185,854 shares in the last quarter. 86.19% of the stock is currently owned by institutional investors.

Alignment Healthcare Company Profile

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.