Alignment Healthcare (NASDAQ:ALHC) Upgraded by JPMorgan Chase & Co. to “Overweight” Rating

JPMorgan Chase & Co. upgraded shares of Alignment Healthcare (NASDAQ:ALHC) from a neutral rating to an overweight rating in a research note issued to investors on Monday, Marketbeat reports. JPMorgan Chase & Co. currently has $20.00 price objective on the stock, up from their prior price objective of $18.00.

ALHC has been the subject of several other reports. Barclays increased their price objective on Alignment Healthcare from $13.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, October 31st. UBS Group increased their price target on shares of Alignment Healthcare from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Zacks Research downgraded shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $22.00 price objective on shares of Alignment Healthcare in a research report on Monday, November 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Alignment Healthcare in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.05.

Alignment Healthcare Stock Up 5.5%

Alignment Healthcare stock opened at $17.62 on Monday. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.61 and a quick ratio of 1.61. Alignment Healthcare has a fifty-two week low of $10.18 and a fifty-two week high of $21.06. The firm has a fifty day moving average price of $17.00 and a two-hundred day moving average price of $15.42. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of -146.83 and a beta of 1.17.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Alignment Healthcare had a negative return on equity of 16.23% and a negative net margin of 0.57%.The business had revenue of $993.70 million for the quarter, compared to analyst estimates of $980.90 million. During the same period in the previous year, the company posted ($0.14) earnings per share. The firm’s revenue for the quarter was up 43.5% on a year-over-year basis. Alignment Healthcare has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, analysts forecast that Alignment Healthcare will post -0.69 earnings per share for the current year.

Insider Activity at Alignment Healthcare

In other news, CEO John E. Kao sold 180,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $16.32, for a total value of $2,937,600.00. Following the sale, the chief executive officer directly owned 2,526,726 shares in the company, valued at approximately $41,236,168.32. This represents a 6.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Hyong Kim sold 51,379 shares of the firm’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $17.57, for a total value of $902,729.03. Following the transaction, the insider owned 362,333 shares of the company’s stock, valued at $6,366,190.81. This trade represents a 12.42% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 7,557,116 shares of company stock valued at $121,801,938. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Alignment Healthcare

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Alignment Healthcare by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 13,968,584 shares of the company’s stock valued at $243,752,000 after purchasing an additional 664,769 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Alignment Healthcare by 167.3% during the third quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company’s stock worth $193,516,000 after buying an additional 6,940,277 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Alignment Healthcare by 5.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 9,078,113 shares of the company’s stock worth $169,035,000 after acquiring an additional 429,071 shares in the last quarter. Hood River Capital Management LLC grew its position in Alignment Healthcare by 6.0% during the 2nd quarter. Hood River Capital Management LLC now owns 5,517,336 shares of the company’s stock worth $77,243,000 after acquiring an additional 311,424 shares during the last quarter. Finally, 8 Knots Management LLC increased its holdings in Alignment Healthcare by 6.4% during the 2nd quarter. 8 Knots Management LLC now owns 5,015,881 shares of the company’s stock valued at $70,222,000 after purchasing an additional 300,409 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.