Alignment Healthcare, Inc. to Post Q2 2024 Earnings of ($0.13) Per Share, Leerink Partnrs Forecasts (NASDAQ:ALHC)

Alignment Healthcare, Inc. (NASDAQ:ALHC) – Equities research analysts at Leerink Partnrs reduced their Q2 2024 earnings per share estimates for shares of Alignment Healthcare in a research report issued on Sunday, May 5th. Leerink Partnrs analyst W. Mayo now anticipates that the company will earn ($0.13) per share for the quarter, down from their previous estimate of ($0.06). The consensus estimate for Alignment Healthcare’s current full-year earnings is ($0.60) per share. Leerink Partnrs also issued estimates for Alignment Healthcare’s Q3 2024 earnings at ($0.14) EPS, Q4 2024 earnings at ($0.20) EPS, FY2024 earnings at ($0.71) EPS, Q1 2025 earnings at ($0.18) EPS, Q2 2025 earnings at ($0.05) EPS, Q3 2025 earnings at ($0.06) EPS, Q4 2025 earnings at ($0.14) EPS, FY2025 earnings at ($0.43) EPS, FY2026 earnings at ($0.19) EPS, FY2027 earnings at $0.13 EPS and FY2028 earnings at $0.43 EPS.

Several other research analysts have also commented on ALHC. Stifel Nicolaus cut their price target on Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. Piper Sandler upgraded Alignment Healthcare from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $6.00 to $8.00 in a research note on Wednesday. Stephens upped their price target on Alignment Healthcare from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a research report on Wednesday, March 6th. Finally, Barclays started coverage on shares of Alignment Healthcare in a research note on Wednesday, March 6th. They issued an “underweight” rating and a $4.50 target price for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alignment Healthcare has an average rating of “Moderate Buy” and an average target price of $8.69.

Alignment Healthcare Price Performance

Shares of NASDAQ:ALHC opened at $6.78 on Wednesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.57 and a quick ratio of 1.57. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $9.20. The firm has a market capitalization of $1.30 billion, a P/E ratio of -8.07 and a beta of 1.23. The company’s fifty day moving average price is $5.13 and its 200 day moving average price is $6.52.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The company had revenue of $628.60 million during the quarter, compared to analysts’ expectations of $599.75 million. Alignment Healthcare had a negative net margin of 7.81% and a negative return on equity of 91.06%. The business’s revenue for the quarter was up 43.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.20) earnings per share.

Insider Transactions at Alignment Healthcare

In related news, insider Dawn Christine Maroney sold 15,861 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $5.05, for a total value of $80,098.05. Following the completion of the sale, the insider now owns 1,999,500 shares in the company, valued at $10,097,475. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Dawn Christine Maroney sold 15,861 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $5.05, for a total value of $80,098.05. Following the completion of the transaction, the insider now directly owns 1,999,500 shares of the company’s stock, valued at approximately $10,097,475. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John E. Kao bought 103,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $4.82 per share, for a total transaction of $496,460.00. Following the completion of the transaction, the chief executive officer now owns 2,745,253 shares of the company’s stock, valued at approximately $13,232,119.46. The disclosure for this purchase can be found here. Insiders have sold a total of 90,213 shares of company stock valued at $460,587 in the last ninety days. 6.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alignment Healthcare

Large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Alignment Healthcare by 75.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,427 shares of the company’s stock valued at $183,000 after purchasing an additional 11,370 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Alignment Healthcare by 38.1% in the third quarter. Mackenzie Financial Corp now owns 31,069 shares of the company’s stock worth $218,000 after acquiring an additional 8,577 shares during the last quarter. Strs Ohio lifted its position in shares of Alignment Healthcare by 24.2% in the third quarter. Strs Ohio now owns 85,700 shares of the company’s stock valued at $594,000 after acquiring an additional 16,700 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Alignment Healthcare by 35.5% during the third quarter. TD Asset Management Inc now owns 348,450 shares of the company’s stock valued at $2,418,000 after acquiring an additional 91,386 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its position in Alignment Healthcare by 16.8% during the 3rd quarter. Panagora Asset Management Inc. now owns 345,798 shares of the company’s stock worth $2,400,000 after purchasing an additional 49,716 shares in the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

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.