UBS Group Increases Alignment Healthcare (NASDAQ:ALHC) Price Target to $17.00

Alignment Healthcare (NASDAQ:ALHC) had its target price hoisted by analysts at UBS Group from $16.00 to $17.00 in a research note issued to investors on Friday, MarketBeat reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective indicates a potential upside of 9.47% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the stock. Stephens reissued an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a research note on Monday, February 24th. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Piper Sandler raised their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Robert W. Baird boosted their price target on Alignment Healthcare from $17.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. raised their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alignment Healthcare has a consensus rating of “Moderate Buy” and a consensus target price of $17.17.

Alignment Healthcare Stock Down 7.4 %

Alignment Healthcare stock opened at $15.53 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare has a 1-year low of $6.37 and a 1-year high of $21.06. The company has a fifty day simple moving average of $17.27 and a 200 day simple moving average of $14.29. The company has a market cap of $3.07 billion, a P/E ratio of -20.17 and a beta of 1.32.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.07. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The company had revenue of $926.93 million during the quarter, compared to analysts’ expectations of $889.83 million. During the same quarter last year, the company earned ($0.25) EPS. Alignment Healthcare’s revenue for the quarter was up 47.5% compared to the same quarter last year. Research analysts anticipate that Alignment Healthcare will post -0.69 earnings per share for the current fiscal year.

Insider Activity at Alignment Healthcare

In related news, CEO John E. Kao sold 90,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $14.23, for a total transaction of $1,280,700.00. Following the sale, the chief executive officer now owns 2,183,100 shares of the company’s stock, valued at $31,065,513. This represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Sebastian Burzacchi sold 6,694 shares of Alignment Healthcare stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $16.40, for a total value of $109,781.60. Following the completion of the transaction, the chief operating officer now directly owns 250,378 shares of the company’s stock, valued at $4,106,199.20. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,181,855 shares of company stock worth $35,166,057 in the last ninety days. 6.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Alignment Healthcare by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 9,818,071 shares of the company’s stock worth $110,453,000 after buying an additional 166,837 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Alignment Healthcare by 54.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock worth $97,302,000 after acquiring an additional 3,059,596 shares in the last quarter. Wellington Management Group LLP increased its stake in Alignment Healthcare by 77.9% in the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock valued at $83,683,000 after acquiring an additional 3,257,630 shares during the last quarter. Hood River Capital Management LLC raised its position in Alignment Healthcare by 39.6% during the fourth quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company’s stock valued at $55,721,000 after purchasing an additional 1,405,212 shares in the last quarter. Finally, 8 Knots Management LLC lifted its stake in Alignment Healthcare by 49.5% during the fourth quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company’s stock worth $41,160,000 after purchasing an additional 1,211,727 shares during the last quarter. Institutional investors own 86.19% of the company’s stock.

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.