Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have been assigned an average rating of “Moderate Buy” from the fourteen research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $23.0455.

Several research firms have recently weighed in on ALHC. TD Cowen upped their price objective on Alignment Healthcare from $18.50 to $25.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Robert W. Baird set a $28.00 price target on Alignment Healthcare in a research report on Friday. JPMorgan Chase & Co. lifted their price objective on shares of Alignment Healthcare from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, December 17th. Piper Sandler increased their target price on shares of Alignment Healthcare from $20.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. Finally, Zacks Research downgraded shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th.

Insider Buying and Selling

In other Alignment Healthcare news, insider Robert L. Scavo sold 69,541 shares of the stock in a transaction on Monday, December 29th. The shares were sold at an average price of $18.74, for a total value of $1,303,198.34. Following the completion of the sale, the insider owned 503,014 shares in the company, valued at $9,426,482.36. This trade represents a 12.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John E. Kao sold 180,000 shares of Alignment Healthcare stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $21.11, for a total value of $3,799,800.00. Following the transaction, the chief executive officer owned 2,832,641 shares of the company’s stock, valued at $59,797,051.51. The trade was a 5.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,103,532 shares of company stock worth $40,529,538 in the last quarter. 6.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Strs Ohio boosted its holdings in shares of Alignment Healthcare by 61.4% during the fourth quarter. Strs Ohio now owns 22,600 shares of the company’s stock worth $446,000 after acquiring an additional 8,600 shares during the period. Danica Pension Livsforsikringsaktieselskab acquired a new stake in Alignment Healthcare during the 4th quarter worth approximately $39,500,000. State of New Jersey Common Pension Fund D bought a new stake in Alignment Healthcare in the 4th quarter valued at $2,646,000. Pictet Asset Management Holding SA boosted its stake in Alignment Healthcare by 64.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 25,873 shares of the company’s stock valued at $511,000 after purchasing an additional 10,152 shares during the period. Finally, Cornerstone Investment Partners LLC acquired a new position in Alignment Healthcare in the 4th quarter valued at $205,000. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Stock Up 0.5%

Alignment Healthcare stock opened at $22.65 on Tuesday. The company has a 50 day moving average of $20.59 and a 200-day moving average of $17.57. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.99. Alignment Healthcare has a twelve month low of $11.63 and a twelve month high of $23.87. The stock has a market capitalization of $4.53 billion, a PE ratio of -188.75, a price-to-earnings-growth ratio of 5.93 and a beta of 1.16.

About Alignment Healthcare

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.