Alignment Healthcare (NASDAQ:ALHC) Posts Earnings Results, Meets Expectations

Alignment Healthcare (NASDAQ:ALHC) released its quarterly earnings data on Tuesday. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14), Briefing.com reports. The company had revenue of $692.43 million during the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The firm’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.19) EPS. Alignment Healthcare updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Alignment Healthcare Trading Up 0.7 %

NASDAQ ALHC traded up $0.08 during trading hours on Thursday, reaching $11.81. The company’s stock had a trading volume of 922,530 shares, compared to its average volume of 1,022,061. The firm has a fifty day simple moving average of $10.67 and a 200-day simple moving average of $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 has a 52 week low of $4.46 and a 52 week high of $12.36. The stock has a market cap of $2.26 billion, a P/E ratio of -15.12 and a beta of 1.47.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 20,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was 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 directly owns 1,796,097 shares in the company, valued at approximately $15,626,043.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Robert Thomas Freeman sold 8,561 shares of the company’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 sale, the chief financial officer now owns 399,429 shares in the company, valued at $3,998,284.29. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dawn Christine Maroney sold 20,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $8.70, for a total value of $174,000.00. Following the sale, the insider now owns 1,796,097 shares of the company’s stock, valued at $15,626,043.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 314,940 shares of company stock worth $3,487,014. 6.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on ALHC. Stifel Nicolaus raised their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, July 26th. TD Cowen upped their price target on shares of Alignment Healthcare to $10.00 and gave the company a “buy” rating in a research note on Wednesday. KeyCorp assumed coverage on Alignment Healthcare in a report on Friday, October 11th. They set a “sector weight” rating for the company. Barclays increased their price objective on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Wednesday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $10.00 target price (up from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.33.

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.