Alignment Healthcare, Inc. (NASDAQ:ALHC) Receives $23.05 Consensus Price Target from Analysts

Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) have earned a consensus rating of “Moderate Buy” from the fourteen analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $23.3182.

ALHC has been the topic of a number of research reports. UBS Group boosted their price target on Alignment Healthcare from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Alignment Healthcare in a research note on Wednesday, January 21st. Piper Sandler upped their price target on Alignment Healthcare from $20.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. TD Cowen boosted their price objective on shares of Alignment Healthcare from $18.50 to $25.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $22.00 target price on shares of Alignment Healthcare in a research report on Monday, November 3rd.

Alignment Healthcare Trading Down 0.8%

Shares of NASDAQ:ALHC opened at $21.15 on Tuesday. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of -176.25, a PEG ratio of 5.62 and a beta of 1.16. Alignment Healthcare has a 12 month low of $11.63 and a 12 month high of $23.87. The company’s fifty day simple moving average is $20.74 and its 200 day simple moving average is $17.70. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.99.

Insider Activity

In related news, insider Robert L. Scavo sold 69,541 shares of Alignment Healthcare stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $18.74, for a total value of $1,303,198.34. Following the sale, the insider owned 503,014 shares of the company’s stock, valued at approximately $9,426,482.36. The trade was a 12.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Dawn Christine Maroney sold 282,070 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $18.74, for a total value of $5,285,991.80. Following the transaction, the president directly owned 1,385,167 shares of the company’s stock, valued at $25,958,029.58. This trade represents a 16.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,103,532 shares of company stock worth $40,529,538 in the last quarter. Corporate insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in shares of Alignment Healthcare by 167.3% during the 3rd quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company’s stock worth $193,516,000 after acquiring an additional 6,940,277 shares during the last quarter. Invesco Ltd. lifted its holdings in Alignment Healthcare by 122.3% during the 2nd quarter. Invesco Ltd. now owns 4,170,529 shares of the company’s stock valued at $58,387,000 after purchasing an additional 2,294,739 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab bought a new position in Alignment Healthcare during the fourth quarter worth $39,500,000. Assenagon Asset Management S.A. increased its holdings in shares of Alignment Healthcare by 6,708.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,774,975 shares of the company’s stock valued at $35,056,000 after purchasing an additional 1,748,903 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Alignment Healthcare by 10.9% in the fourth quarter. Vanguard Group Inc. now owns 15,492,802 shares of the company’s stock valued at $305,983,000 after purchasing an additional 1,524,218 shares during the period. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.