Alignment Healthcare (NASDAQ:ALHC) Given New $10.00 Price Target at TD Cowen

Alignment Healthcare (NASDAQ:ALHC) had its price objective hoisted by equities research analysts at TD Cowen from $8.00 to $10.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s target price would indicate a potential upside of 9.53% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Robert W. Baird assumed coverage on shares of Alignment Healthcare in a report on Thursday, May 30th. They issued an “outperform” rating and a $10.00 price objective on the stock. Bank of America upgraded Alignment Healthcare from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $7.75 to $11.00 in a research report on Thursday, May 30th. Piper Sandler restated an “overweight” rating and issued a $10.00 target price (up from $8.00) on shares of Alignment Healthcare in a research report on Tuesday. Stifel Nicolaus boosted their price target on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Baird R W raised Alignment Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $9.95.

Alignment Healthcare Stock Performance

Shares of NASDAQ:ALHC traded up $0.30 on Tuesday, reaching $9.13. 261,714 shares of the company’s stock were exchanged, compared to its average volume of 941,357. The business’s 50-day moving average is $8.34 and its two-hundred day moving average is $6.76. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.23. Alignment Healthcare has a fifty-two week low of $4.46 and a fifty-two week high of $10.16. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -10.87 and a beta of 1.43.

Alignment Healthcare (NASDAQ:ALHC) last issued 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. The company had revenue of $681.29 million during the quarter, compared to the consensus estimate of $637.66 million. Alignment Healthcare had a negative return on equity of 95.55% and a negative net margin of 6.85%. Alignment Healthcare’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.15) earnings per share. As a group, equities research analysts forecast that Alignment Healthcare will post -0.67 EPS for the current year.

Insider Buying and Selling at Alignment Healthcare

In related news, insider Christopher J. Joyce sold 16,000 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $8.01, for a total transaction of $128,160.00. Following the completion of the sale, the insider now directly owns 422,912 shares of the company’s stock, valued at $3,387,525.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Christopher J. Joyce sold 16,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $8.01, for a total transaction of $128,160.00. Following the sale, the insider now directly owns 422,912 shares of the company’s stock, valued at $3,387,525.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher J. Joyce sold 15,034 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $9.05, for a total value of $136,057.70. Following the completion of the transaction, the insider now owns 406,912 shares of the company’s stock, valued at approximately $3,682,553.60. The disclosure for this sale can be found here. In the last three months, insiders sold 225,221 shares of company stock valued at $2,142,155. 6.60% of the stock is owned by insiders.

Institutional Trading of Alignment Healthcare

A number of hedge funds have recently modified their holdings of ALHC. Principal Financial Group Inc. purchased a new position in Alignment Healthcare during the 1st quarter valued at about $57,000. Virtu Financial LLC acquired a new position in Alignment Healthcare in the 1st quarter valued at approximately $57,000. Barlow Wealth Partners Inc. purchased a new stake in Alignment Healthcare in the 4th quarter worth approximately $100,000. Victory Capital Management Inc. boosted its stake in shares of 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 buying an additional 1,962 shares during the period. Finally, Aigen Investment Management LP grew its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

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.