TD Cowen Raises Alignment Healthcare (NASDAQ:ALHC) Price Target to $25.00

Alignment Healthcare (NASDAQ:ALHC) had its price target hoisted by research analysts at TD Cowen from $18.50 to $25.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price would suggest a potential upside of 11.11% from the stock’s previous close.

ALHC has been the subject of a number of other research reports. Zacks Research downgraded shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. KeyCorp reaffirmed an “overweight” rating on shares of Alignment Healthcare in a research note on Monday, November 24th. Barclays lifted their target price on Alignment Healthcare from $13.00 to $18.00 and gave the stock an “equal weight” rating in a report on Friday, October 31st. UBS Group increased their price target on Alignment Healthcare from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Piper Sandler lifted their price objective on shares of Alignment Healthcare from $20.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.86.

Alignment Healthcare Stock Performance

Shares of ALHC stock opened at $22.50 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.99. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of -187.50, a price-to-earnings-growth ratio of 5.92 and a beta of 1.16. Alignment Healthcare has a 12-month low of $11.63 and a 12-month high of $23.19. The stock’s 50-day moving average price is $19.21 and its 200-day moving average price is $16.83.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. The business had revenue of $993.70 million during the quarter, compared to analysts’ expectations of $980.90 million. Alignment Healthcare had a negative return on equity of 16.23% and a negative net margin of 0.57%.The firm’s revenue for the quarter was up 43.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.14) EPS. Equities research analysts predict that Alignment Healthcare will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Robert L. Scavo sold 69,541 shares of Alignment Healthcare stock in a transaction on Monday, December 29th. The stock was sold at an average price of $18.74, for a total transaction of $1,303,198.34. Following the completion of the sale, the insider directly owned 503,014 shares in the company, valued at approximately $9,426,482.36. This trade represents a 12.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John E. Kao sold 180,000 shares of the business’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $21.11, for a total transaction of $3,799,800.00. Following the sale, the chief executive officer directly owned 2,832,641 shares of the company’s stock, valued at $59,797,051.51. This represents a 5.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 2,128,532 shares of company stock valued at $40,979,538. Insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ALHC. Vanguard Group Inc. raised its position 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 in the last quarter. Wellington Management Group LLP increased its stake 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 valued at $193,516,000 after buying an additional 6,940,277 shares during the period. Hood River Capital Management LLC raised its holdings in shares of Alignment Healthcare by 6.0% in the second quarter. Hood River Capital Management LLC now owns 5,517,336 shares of the company’s stock valued at $77,243,000 after acquiring an additional 311,424 shares in the last quarter. 8 Knots Management LLC lifted its stake in Alignment Healthcare by 6.4% in the second quarter. 8 Knots Management LLC now owns 5,015,881 shares of the company’s stock worth $70,222,000 after acquiring an additional 300,409 shares during the period. Finally, Invesco Ltd. grew its holdings in Alignment Healthcare by 7.1% during the 3rd quarter. Invesco Ltd. now owns 4,466,630 shares of the company’s stock worth $77,943,000 after acquiring an additional 296,101 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.