Stifel Nicolaus Lowers Alignment Healthcare (NASDAQ:ALHC) Price Target to $9.00

Alignment Healthcare (NASDAQ:ALHC) had its target price cut by Stifel Nicolaus from $11.00 to $9.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

ALHC has been the subject of several other research reports. William Blair reiterated an outperform rating on shares of Alignment Healthcare in a report on Wednesday, March 6th. Piper Sandler reissued a neutral rating and issued a $6.00 price objective (down previously from $12.00) on shares of Alignment Healthcare in a research report on Wednesday, March 6th. Stephens boosted their price objective on Alignment Healthcare from $10.00 to $10.50 and gave the stock an equal weight rating in a research report on Tuesday, January 9th. Barclays initiated coverage on Alignment Healthcare in a research report on Wednesday, March 6th. They issued an underweight rating and a $4.50 price objective on the stock. Finally, Raymond James boosted their price objective on Alignment Healthcare from $10.00 to $12.00 and gave the stock a strong-buy rating in a research report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $9.18.

Alignment Healthcare Trading Up 3.4 %

NASDAQ ALHC opened at $5.18 on Tuesday. The business has a 50 day moving average price of $5.30 and a 200-day moving average price of $6.63. Alignment Healthcare has a 52 week low of $4.46 and a 52 week high of $9.20. The company has a market cap of $978.92 million, a price-to-earnings ratio of -6.56 and a beta of 1.30. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.02.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). Alignment Healthcare had a negative return on equity of 75.64% and a negative net margin of 8.12%. The company had revenue of $465.39 million for the quarter, compared to the consensus estimate of $444.56 million. During the same quarter last year, the company posted ($0.31) EPS. The company’s quarterly revenue was up 28.6% compared to the same quarter last year. As a group, equities analysts expect that Alignment Healthcare will post -0.59 earnings per share for the current fiscal year.

Insider Activity at Alignment Healthcare

In related news, insider Dawn Christine Maroney sold 23,000 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $5.44, for a total transaction of $125,120.00. Following the completion of the sale, the insider now directly owns 1,830,008 shares in the company, valued at approximately $9,955,243.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Alignment Healthcare news, CEO John E. Kao acquired 103,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average price of $4.82 per share, for a total transaction of $496,460.00. Following the acquisition, the chief executive officer now owns 2,745,253 shares in the company, valued at approximately $13,232,119.46. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Dawn Christine Maroney sold 23,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $5.44, for a total value of $125,120.00. Following the completion of the sale, the insider now owns 1,830,008 shares of the company’s stock, valued at approximately $9,955,243.52. The disclosure for this sale can be found here. Insiders sold 90,213 shares of company stock worth $460,587 in the last ninety days. 6.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Alignment Healthcare by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,121,432 shares of the company’s stock valued at $63,303,000 after buying an additional 322,661 shares in the last quarter. Deerfield Management Company L.P. Series C increased its position in Alignment Healthcare by 49.1% during the 3rd quarter. Deerfield Management Company L.P. Series C now owns 2,747,015 shares of the company’s stock valued at $19,064,000 after buying an additional 905,015 shares in the last quarter. William Blair Investment Management LLC increased its position in Alignment Healthcare by 39.7% during the 3rd quarter. William Blair Investment Management LLC now owns 1,913,459 shares of the company’s stock valued at $13,279,000 after buying an additional 544,196 shares in the last quarter. Rhenman & Partners Asset Management AB increased its position in Alignment Healthcare by 20.0% during the 3rd quarter. Rhenman & Partners Asset Management AB now owns 1,200,000 shares of the company’s stock valued at $8,328,000 after buying an additional 200,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Alignment Healthcare by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 751,309 shares of the company’s stock valued at $6,469,000 after buying an additional 10,123 shares in the last quarter. Institutional investors 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.