Wolfe Research Begins Coverage on Alignment Healthcare (NASDAQ:ALHC)

Stock analysts at Wolfe Research assumed coverage on shares of Alignment Healthcare (NASDAQ:ALHC) in a report released on Friday, Marketbeat reports. The firm set an “outperform” rating and a $24.00 price target on the stock. Wolfe Research’s price objective indicates a potential upside of 13.10% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Alignment Healthcare in a research report on Wednesday, January 21st. TD Cowen boosted their target price on Alignment Healthcare from $18.50 to $25.00 and gave the company a “buy” rating in a research report on Friday, January 16th. Robert W. Baird set a $28.00 target price on Alignment Healthcare in a research report on Friday, January 30th. Wall Street Zen downgraded Alignment Healthcare from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, UBS Group boosted their target price on Alignment Healthcare from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Alignment Healthcare has an average rating of “Moderate Buy” and an average price target of $24.67.

Alignment Healthcare Stock Performance

NASDAQ:ALHC opened at $21.22 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.71 and a quick ratio of 1.71. Alignment Healthcare has a 1 year low of $11.63 and a 1 year high of $23.87. The stock’s 50 day simple moving average is $19.20 and its two-hundred day simple moving average is $19.16. The company has a market cap of $4.34 billion, a price-to-earnings ratio of -2,119.88, a PEG ratio of 3.05 and a beta of 1.20.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.10. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. Alignment Healthcare had a negative return on equity of 0.49% and a negative net margin of 0.02%.The company’s revenue was up 44.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.16) EPS. As a group, equities analysts anticipate that Alignment Healthcare will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, CEO John E. Kao sold 250,000 shares of the company’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $21.01, for a total value of $5,252,500.00. Following the transaction, the chief executive officer owned 2,104,641 shares of the company’s stock, valued at $44,218,507.41. This represents a 10.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Dawn Christine Maroney sold 36,749 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $17.84, for a total value of $655,602.16. Following the completion of the transaction, the president directly owned 1,058,813 shares in the company, valued at $18,889,223.92. This trade represents a 3.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,474,097 shares of company stock worth $28,679,550 in the last ninety days. 7.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds have recently bought and sold shares of the business. Campbell Newman Asset Management Inc. bought a new position in Alignment Healthcare in the 1st quarter valued at $1,844,000. T. Rowe Price Investment Management Inc. grew its position in Alignment Healthcare by 0.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,643,784 shares of the company’s stock valued at $249,715,000 after acquiring an additional 79,268 shares during the last quarter. Invesco Ltd. grew its position in Alignment Healthcare by 38.9% in the 4th quarter. Invesco Ltd. now owns 6,202,592 shares of the company’s stock valued at $122,501,000 after acquiring an additional 1,735,962 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in Alignment Healthcare by 6.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 15,452 shares of the company’s stock valued at $305,000 after acquiring an additional 996 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in Alignment Healthcare by 25.6% in the 4th quarter. Mackenzie Financial Corp now owns 46,917 shares of the company’s stock valued at $901,000 after acquiring an additional 9,552 shares during 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.