Alignment Healthcare (NASDAQ:ALHC) Given New $9.00 Price Target at Stifel Nicolaus

Alignment Healthcare (NASDAQ:ALHC) had its price target lowered by stock analysts at Stifel Nicolaus from $11.00 to $9.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 75.10% from the stock’s current price.

Several other equities analysts have also commented on the company. UBS Group lowered their target price on Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Barclays initiated coverage on shares of Alignment Healthcare in a research note on Wednesday, March 6th. They issued an “underweight” rating and a $4.50 price target on the stock. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a report on Wednesday, March 6th. Stephens increased their target price on shares of Alignment Healthcare from $10.00 to $10.50 and gave the company an “equal weight” rating in a research note on Tuesday, January 9th. Finally, Raymond James increased their price target on shares of Alignment Healthcare from $10.00 to $12.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $9.18.

Alignment Healthcare Trading Up 2.6 %

Shares of Alignment Healthcare stock traded up $0.13 during trading hours on Tuesday, reaching $5.14. 445,474 shares of the company’s stock were exchanged, compared to its average volume of 871,783. Alignment Healthcare has a 52-week low of $4.46 and a 52-week high of $9.20. The firm has a market capitalization of $971.36 million, a price-to-earnings ratio of -6.47 and a beta of 1.30. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.02. The company has a fifty day moving average of $5.33 and a 200-day moving average of $6.65.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). Alignment Healthcare had a negative return on equity of 75.64% and a negative net margin of 8.12%. The company had revenue of $465.39 million for the quarter, compared to analyst estimates of $444.56 million. During the same quarter in the prior year, the firm earned ($0.31) EPS. The company’s revenue for the quarter was up 28.6% compared to the same quarter last year. Sell-side analysts forecast that Alignment Healthcare will post -0.59 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO John E. Kao bought 103,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $4.82 per share, with a total value of $496,460.00. Following the acquisition, the chief executive officer now owns 2,745,253 shares of the company’s stock, valued at approximately $13,232,119.46. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO John E. Kao acquired 103,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average cost of $4.82 per share, for a total transaction of $496,460.00. Following the acquisition, the chief executive officer now owns 2,745,253 shares of the company’s stock, valued at $13,232,119.46. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Dawn Christine Maroney sold 15,861 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $5.05, for a total transaction of $80,098.05. Following the completion of the transaction, the insider now owns 1,999,500 shares of the company’s stock, valued at $10,097,475. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,213 shares of company stock worth $460,587. Insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Alignment Healthcare by 3.7% in the third quarter. Vanguard Group Inc. now owns 9,121,432 shares of the company’s stock valued at $63,303,000 after purchasing an additional 322,661 shares in the last quarter. Deerfield Management Company L.P. Series C raised its stake in Alignment Healthcare by 49.1% in the third quarter. Deerfield Management Company L.P. Series C now owns 2,747,015 shares of the company’s stock worth $19,064,000 after buying an additional 905,015 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Alignment Healthcare by 39.7% during the third quarter. William Blair Investment Management LLC now owns 1,913,459 shares of the company’s stock worth $13,279,000 after purchasing an additional 544,196 shares in the last quarter. Rhenman & Partners Asset Management AB grew its holdings in shares of Alignment Healthcare by 20.0% during the third quarter. Rhenman & Partners Asset Management AB now owns 1,200,000 shares of the company’s stock valued at $8,328,000 after buying an additional 200,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Alignment Healthcare by 1.4% in the fourth 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 during the last quarter. Hedge funds and other 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.