Alignment Healthcare (NASDAQ:ALHC) Given New $12.00 Price Target at UBS Group

Alignment Healthcare (NASDAQ:ALHC) had its price target boosted by UBS Group from $9.00 to $12.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also recently issued reports about the stock. Piper Sandler restated an “overweight” rating and set a $10.00 target price (up from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. Stifel Nicolaus raised their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Barclays lifted their target price on Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a report on Monday, August 5th. KeyCorp started coverage on Alignment Healthcare in a report on Friday, October 11th. They set a “sector weight” rating on the stock. Finally, TD Cowen lifted their price objective on shares of Alignment Healthcare to $10.00 and gave the stock a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.33.

Alignment Healthcare Stock Performance

NASDAQ:ALHC opened at $11.73 on Wednesday. The company has a market cap of $2.24 billion, a price-to-earnings ratio of -15.23 and a beta of 1.47. Alignment Healthcare has a 1 year low of $4.46 and a 1 year high of $12.36. The stock’s 50 day simple moving average is $10.67 and its two-hundred day simple moving average is $8.71. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.61 and a quick ratio of 1.61.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, hitting the consensus estimate 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 quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.19) earnings per share. As a group, equities analysts anticipate that Alignment Healthcare will post -0.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Dawn Christine Maroney sold 20,000 shares of Alignment Healthcare stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $8.70, for a total transaction of $174,000.00. Following the completion of the sale, the insider now owns 1,796,097 shares of the company’s stock, valued at approximately $15,626,043.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 39,320 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $12.04, for a total transaction of $473,412.80. Following the transaction, the chief financial officer now directly owns 194,609 shares in the company, valued at $2,343,092.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dawn Christine Maroney sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $8.70, for a total transaction of $174,000.00. Following the completion of the sale, the insider now owns 1,796,097 shares of the company’s stock, valued at approximately $15,626,043.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 314,940 shares of company stock worth $3,487,014 in the last three months. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. bought a new stake in Alignment Healthcare during the 1st quarter valued at $918,000. Vanguard Group Inc. grew its stake in Alignment Healthcare by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock valued at $45,828,000 after purchasing an additional 93,262 shares during the last quarter. Deerfield Management Company L.P. Series C raised its holdings in Alignment Healthcare by 31.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after purchasing an additional 2,630,788 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Alignment Healthcare by 27.5% during the second quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock valued at $2,991,000 after buying an additional 82,559 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of Alignment Healthcare in the 1st quarter valued at about $57,000. 86.19% of the stock is owned by hedge funds and other institutional investors.

About Alignment Healthcare

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.