Alignment Healthcare, Inc. (NASDAQ:ALHC) Given Consensus Recommendation of “Buy” by Brokerages
Alignment Healthcare, Inc. (NASDAQ:ALHC – Get Rating) has received an average rating of “Buy” from the twelve analysts that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $20.70.
Several analysts recently weighed in on ALHC shares. Cowen decreased their price objective on Alignment Healthcare from $24.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, March 4th. Morgan Stanley reduced their target price on shares of Alignment Healthcare from $25.00 to $21.00 and set an “overweight” rating for the company in a report on Monday, March 7th. SVB Leerink initiated coverage on shares of Alignment Healthcare in a report on Monday, April 4th. They issued an “outperform” rating and a $19.00 target price for the company. The Goldman Sachs Group reduced their target price on shares of Alignment Healthcare from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, March 15th. Finally, Zacks Investment Research downgraded shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a report on Wednesday, January 12th.
NASDAQ ALHC traded down $0.01 on Tuesday, hitting $10.92. 573,254 shares of the stock were exchanged, compared to its average volume of 792,925. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.31 and a current ratio of 3.31. The stock has a fifty day moving average price of $9.41 and a two-hundred day moving average price of $13.24. The firm has a market capitalization of $2.04 billion and a P/E ratio of -9.50. Alignment Healthcare has a 52-week low of $6.14 and a 52-week high of $28.59.
Alignment Healthcare (NASDAQ:ALHC – Get Rating) last posted its quarterly earnings data on Thursday, March 3rd. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.01. The company had revenue of $298.27 million during the quarter, compared to analyst estimates of $270.81 million. Alignment Healthcare had a negative net margin of 16.72% and a negative return on equity of 58.92%. Alignment Healthcare’s revenue was up 23.0% compared to the same quarter last year. Sell-side analysts expect that Alignment Healthcare will post -0.9 earnings per share for the current fiscal year.
In related news, CFO Robert Thomas Freeman sold 4,944 shares of the stock in a transaction on Thursday, March 31st. The stock was sold at an average price of $11.18, for a total value of $55,273.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald Steven Furman sold 3,006 shares of the stock in a transaction 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 have sold a total of 35,908 shares of company stock worth $401,451 in the last quarter.
Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its holdings in shares of Alignment Healthcare by 48.3% during the 4th quarter. BlackRock Inc. now owns 4,525,987 shares of the company’s stock worth $63,635,000 after purchasing an additional 1,473,204 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Alignment Healthcare by 101.2% during the 4th quarter. Alliancebernstein L.P. now owns 4,469,275 shares of the company’s stock worth $62,838,000 after purchasing an additional 2,248,417 shares during the period. Brown Advisory Inc. grew its holdings in shares of Alignment Healthcare by 55.1% during the 4th quarter. Brown Advisory Inc. now owns 2,586,706 shares of the company’s stock worth $36,369,000 after purchasing an additional 919,320 shares during the period. Hood River Capital Management LLC grew its holdings in shares of Alignment Healthcare by 15.8% during the 3rd quarter. Hood River Capital Management LLC now owns 1,535,610 shares of the company’s stock worth $24,539,000 after purchasing an additional 209,969 shares during the period. Finally, State Street Corp grew its holdings in shares of Alignment Healthcare by 136.4% during the 4th quarter. State Street Corp now owns 1,305,677 shares of the company’s stock worth $18,358,000 after purchasing an additional 753,296 shares during the period. 80.56% of the stock is owned by institutional investors and hedge funds.
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.
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