TD Cowen Raises Alignment Healthcare (NASDAQ:ALHC) Price Target to $10.00

Alignment Healthcare (NASDAQ:ALHC) had its price target lifted by TD Cowen from $8.00 to $10.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the stock. Stifel Nicolaus upped their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a buy rating in a report on Friday, July 26th. Baird R W upgraded shares of Alignment Healthcare to a strong-buy rating in a research report on Thursday, May 30th. Barclays boosted their price target on Alignment Healthcare from $4.50 to $7.00 and gave the company an underweight rating in a report on Monday. Bank of America upgraded Alignment Healthcare from a neutral rating to a buy rating and raised their price objective for the stock from $7.75 to $11.00 in a report on Thursday, May 30th. Finally, Piper Sandler reiterated an overweight rating and issued a $10.00 target price (up from $8.00) on shares of Alignment Healthcare in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alignment Healthcare has a consensus rating of Moderate Buy and an average target price of $9.95.

Alignment Healthcare Stock Down 3.8 %

ALHC stock opened at $8.42 on Tuesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.57 and a quick ratio of 1.57. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $10.16. The firm has a market capitalization of $1.61 billion, a PE ratio of -10.02 and a beta of 1.43. The company’s 50 day simple moving average is $8.42 and its 200-day simple moving average is $6.80.

Alignment Healthcare (NASDAQ:ALHC) last announced its earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. Alignment Healthcare had a negative return on equity of 95.55% and a negative net margin of 6.85%. The firm had revenue of $681.29 million for the quarter, compared to analysts’ expectations of $637.66 million. During the same quarter in the prior year, the firm earned ($0.15) EPS. Alignment Healthcare’s quarterly revenue was up 47.3% on a year-over-year basis. Equities analysts expect that Alignment Healthcare will post -0.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Alignment Healthcare

In other news, CFO Robert Thomas Freeman sold 22,100 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $10.00, for a total value of $221,000.00. Following the transaction, the chief financial officer now directly owns 497,329 shares in the company, valued at approximately $4,973,290. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 22,100 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $10.00, for a total transaction of $221,000.00. Following the completion of the sale, the chief financial officer now directly owns 497,329 shares in the company, valued at $4,973,290. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Dawn Christine Maroney sold 36,700 shares of the firm’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $10.01, for a total transaction of $367,367.00. Following the completion of the transaction, the insider now directly owns 1,816,097 shares in the company, valued at approximately $18,179,130.97. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 226,554 shares of company stock valued at $2,154,152. Company insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Alignment Healthcare by 1.0% during the 1st 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 in the last quarter. William Blair Investment Management LLC lifted its stake in shares of Alignment Healthcare by 94.4% in the second quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock worth $24,279,000 after acquiring an additional 1,507,759 shares in the last quarter. Hood River Capital Management LLC boosted its holdings in Alignment Healthcare by 49.6% in the first quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock valued at $14,487,000 after purchasing an additional 968,637 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Alignment Healthcare by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 751,309 shares of the company’s stock valued at $6,469,000 after purchasing an additional 10,123 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Alignment Healthcare by 27.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock worth $2,991,000 after purchasing an additional 82,559 shares during the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

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.