Alignment Healthcare (NASDAQ:ALHC) Price Target Increased to $12.00 by Analysts at Stifel Nicolaus

Alignment Healthcare (NASDAQ:ALHC) had its price target increased by investment analysts at Stifel Nicolaus from $9.00 to $12.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 29.17% from the company’s current price.

Several other research analysts also recently weighed in on the stock. Robert W. Baird began coverage on shares of Alignment Healthcare in a research note on Thursday, May 30th. They issued an “outperform” rating and a $10.00 target price for the company. Bank of America raised shares of Alignment Healthcare from a “neutral” rating to a “buy” rating and upped their price target for the company from $7.75 to $11.00 in a report on Thursday, May 30th. Stephens upped their price target on shares of Alignment Healthcare from $6.00 to $7.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Piper Sandler raised shares of Alignment Healthcare from a “neutral” rating to an “overweight” rating and upped their price target for the company from $6.00 to $8.00 in a report on Wednesday, May 8th. Finally, Baird R W raised shares of Alignment Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.44.

Alignment Healthcare Trading Down 0.7 %

ALHC stock traded down $0.07 on Friday, hitting $9.29. 385,434 shares of the company were exchanged, compared to its average volume of 926,934. Alignment Healthcare has a twelve month low of $4.46 and a twelve month high of $10.16. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.57 and a quick ratio of 1.57. The business’s fifty day moving average is $8.13 and its two-hundred day moving average is $6.74. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of -11.17 and a beta of 1.43.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Alignment Healthcare had a negative return on equity of 91.06% and a negative net margin of 7.81%. The business had revenue of $628.60 million for the quarter, compared to analysts’ expectations of $599.75 million. During the same quarter in the prior year, the firm earned ($0.20) earnings per share. Alignment Healthcare’s quarterly revenue was up 43.1% compared to the same quarter last year. As a group, research analysts forecast that Alignment Healthcare will post -0.67 earnings per share for the current year.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 20,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $8.21, for a total transaction of $164,200.00. Following the transaction, the insider now owns 1,956,097 shares in the company, valued at $16,059,556.37. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Dawn Christine Maroney sold 20,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $8.21, for a total value of $164,200.00. Following the sale, the insider now owns 1,956,097 shares in the company, valued at $16,059,556.37. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Christopher J. Joyce sold 16,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $8.01, for a total transaction of $128,160.00. Following the completion of the sale, the insider now owns 422,912 shares in the company, valued at approximately $3,387,525.12. The disclosure for this sale can be found here. Insiders have sold a total of 225,221 shares of company stock worth $2,142,155 over the last 90 days. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ALHC. Jump Financial LLC bought a new position in shares of Alignment Healthcare in the fourth quarter valued at about $575,000. Vanguard Group Inc. raised its holdings in Alignment Healthcare by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,121,432 shares of the company’s stock worth $63,303,000 after purchasing an additional 322,661 shares during the last quarter. Barlow Wealth Partners Inc. bought a new stake in Alignment Healthcare during the 4th quarter worth about $100,000. Assenagon Asset Management S.A. raised its holdings in Alignment Healthcare by 283.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 315,629 shares of the company’s stock worth $1,566,000 after purchasing an additional 233,417 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Alignment Healthcare by 18.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,289 shares of the company’s stock worth $269,000 after purchasing an additional 4,862 shares during the last quarter. 86.19% of the stock is owned by institutional investors.

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.