Alignment Healthcare (NASDAQ:ALHC) PT Raised to $10.00 at TD Cowen

Alignment Healthcare (NASDAQ:ALHC) had its target price raised by research analysts at TD Cowen to $10.00 in a research note issued on Wednesday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price target would suggest a potential downside of 14.60% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Barclays boosted their target price on Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th. Robert W. Baird upped their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. KeyCorp initiated coverage on shares of Alignment Healthcare in a research report on Friday, October 11th. They set a “sector weight” rating for the company. Piper Sandler reissued an “overweight” rating and issued a $10.00 price target (up previously from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. Finally, Stifel Nicolaus raised their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.83.

Alignment Healthcare Stock Performance

Shares of ALHC stock opened at $11.71 on Wednesday. The stock has a market capitalization of $2.24 billion, a P/E ratio of -13.94 and a beta of 1.47. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.70. The firm’s 50 day moving average is $10.62 and its 200 day moving average is $8.69. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $12.36.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). The company had revenue of $692.43 million for the quarter, compared to analysts’ expectations of $662.11 million. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. Alignment Healthcare’s revenue was up 51.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.19) EPS. On average, sell-side analysts anticipate 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 7,074 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $9.02, for a total value of $63,807.48. Following the transaction, the insider now owns 1,789,023 shares in the company, valued at approximately $16,136,987.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 8,561 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $10.01, for a total value of $85,695.61. Following the transaction, the chief financial officer now owns 399,429 shares in the company, valued at approximately $3,998,284.29. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dawn Christine Maroney sold 7,074 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $9.02, for a total transaction of $63,807.48. Following the completion of the transaction, the insider now owns 1,789,023 shares in the company, valued at $16,136,987.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 314,940 shares of company stock worth $3,487,014. 6.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alignment Healthcare

A number of large investors have recently modified their holdings of the stock. Creative Planning boosted its stake in shares of Alignment Healthcare by 20.0% during the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after purchasing an additional 2,072 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Alignment Healthcare by 18.1% during the 2nd quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock valued at $106,000 after purchasing an additional 2,077 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Alignment Healthcare by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock valued at $196,000 after purchasing an additional 3,334 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Alignment Healthcare during the 3rd quarter valued at about $95,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Alignment Healthcare by 20.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock valued at $434,000 after purchasing an additional 9,595 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.

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.