Alignment Healthcare, Inc. (NASDAQ:ALHC) Given Consensus Recommendation of “Buy” by Brokerages

Alignment Healthcare, Inc. (NASDAQ:ALHCGet Rating) has received an average rating of “Buy” from the ten analysts that are currently covering the firm, MarketBeat reports. Ten analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $17.89.

A number of research firms have recently weighed in on ALHC. Piper Sandler lowered their price target on Alignment Healthcare from $25.00 to $15.00 and set an “overweight” rating for the company in a report on Thursday, February 24th. The Goldman Sachs Group lowered their target price on Alignment Healthcare from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, March 15th. Morgan Stanley lowered their target price on Alignment Healthcare from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, June 7th. Bank of America upgraded Alignment Healthcare from a “neutral” rating to a “buy” rating and lowered their target price for the company from $18.00 to $14.00 in a report on Thursday, May 26th. Finally, SVB Leerink assumed coverage on Alignment Healthcare in a report on Monday, April 4th. They set an “outperform” rating and a $19.00 target price for the company.

NASDAQ ALHC opened at $11.37 on Friday. The stock has a market cap of $2.13 billion, a PE ratio of -11.26 and a beta of 2.52. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.52. Alignment Healthcare has a twelve month low of $6.14 and a twelve month high of $27.74. The stock has a fifty day simple moving average of $10.32 and a 200-day simple moving average of $10.31.

Alignment Healthcare (NASDAQ:ALHCGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.01. The business had revenue of $345.53 million during the quarter, compared to analysts’ expectations of $332.93 million. Alignment Healthcare had a negative return on equity of 56.68% and a negative net margin of 14.38%. During the same period in the prior year, the business posted ($0.37) EPS. Research analysts predict that Alignment Healthcare will post -0.97 EPS for the current year.

In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 4,944 shares of the stock in a transaction dated 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 document filed with the SEC, which is available at this link. Also, insider Dawn Christine Maroney sold 13,782 shares of the firm’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 directly 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 a total of 63,840 shares of company stock worth $712,156 in the last ninety days.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Alignment Healthcare by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 6,176,491 shares of the company’s stock worth $69,362,000 after acquiring an additional 50,997 shares in the last quarter. Durable Capital Partners LP raised its position in shares of Alignment Healthcare by 2,079.2% during the 1st quarter. Durable Capital Partners LP now owns 5,908,220 shares of the company’s stock worth $66,349,000 after acquiring an additional 5,637,102 shares in the last quarter. BlackRock Inc. raised its position 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 acquiring an additional 1,473,204 shares in the last quarter. Alliancebernstein L.P. raised its position 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 acquiring an additional 2,248,417 shares in the last quarter. Finally, Brown Advisory Inc. raised its position in shares of Alignment Healthcare by 37.6% during the 1st quarter. Brown Advisory Inc. now owns 3,558,235 shares of the company’s stock worth $40,000,000 after acquiring an additional 971,529 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

About Alignment Healthcare (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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Analyst Recommendations for Alignment Healthcare (NASDAQ:ALHC)

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