Alignment Healthcare (NASDAQ:ALHC) Price Target Raised to $11.00 at Robert W. Baird

Alignment Healthcare (NASDAQ:ALHC) had its price objective boosted by Robert W. Baird from $10.00 to $11.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other equities analysts have also commented on ALHC. Barclays raised their price objective on shares of Alignment Healthcare from $4.50 to $7.00 and gave the company an underweight rating in a research report on Monday, August 5th. TD Cowen increased their target price on shares of Alignment Healthcare from $8.00 to $10.00 and gave the stock a buy rating in a report on Tuesday, August 6th. Stephens boosted their price target on 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 reiterated an overweight rating and issued a $10.00 price objective (up previously from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. Finally, Baird R W raised Alignment Healthcare to a strong-buy rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alignment Healthcare currently has an average rating of Moderate Buy and a consensus target price of $10.05.

Alignment Healthcare Stock Up 1.3 %

ALHC stock opened at $8.70 on Wednesday. The stock has a fifty day moving average of $8.47 and a 200-day moving average of $6.86. Alignment Healthcare has a fifty-two week low of $4.46 and a fifty-two week high of $10.16. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -10.36 and a beta of 1.43. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.57 and a current ratio of 1.57.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.01. The firm had revenue of $681.29 million during the quarter, compared to the consensus estimate of $637.66 million. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 95.55%. The company’s revenue was up 47.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.15) earnings per share. As a group, equities research analysts predict that Alignment Healthcare will post -0.67 earnings per share for the current year.

Insider Buying and Selling at Alignment Healthcare

In other news, CFO Robert Thomas Freeman sold 22,100 shares of the company’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 completion of the transaction, the chief financial officer now owns 497,329 shares of the company’s stock, valued at $4,973,290. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Dawn Christine Maroney sold 36,700 shares of the business’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $10.01, for a total value of $367,367.00. Following the sale, the insider now directly owns 1,816,097 shares in the company, valued at $18,179,130.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert Thomas Freeman sold 22,100 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 497,329 shares in the company, valued at approximately $4,973,290. The disclosure for this sale can be found here. Insiders have sold a total of 247,754 shares of company stock valued at $2,338,748 over the last ninety days. 6.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alignment Healthcare

Large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. purchased a new position in shares of Alignment Healthcare during the 1st quarter worth about $57,000. Virtu Financial LLC purchased a new stake in shares of Alignment Healthcare in the first quarter worth approximately $57,000. Barlow Wealth Partners Inc. bought a new stake in shares of Alignment Healthcare during the 4th quarter worth approximately $100,000. Victory Capital Management Inc. boosted its holdings in Alignment Healthcare by 17.9% during the 4th quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock valued at $111,000 after acquiring an additional 1,962 shares during the period. Finally, Aigen Investment Management LP boosted its holdings in Alignment Healthcare by 18.5% during the 4th quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock valued at $170,000 after acquiring an additional 3,092 shares during the period. 86.19% of the stock is owned by 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.