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

Alignment Healthcare (NASDAQ:ALHC) had its target price upped by Robert W. Baird from $10.00 to $11.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms have also commented on ALHC. Piper Sandler reissued an overweight rating and issued a $10.00 target price (up previously from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. Stifel Nicolaus increased their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the company a buy rating in a report on Friday, July 26th. Stephens boosted their target price on Alignment Healthcare from $6.00 to $7.00 and gave the stock an equal weight rating in a research note on Friday, May 3rd. Barclays increased their price target on shares of Alignment Healthcare from $4.50 to $7.00 and gave the company an underweight rating in a research note on Monday, August 5th. Finally, Bank of America upgraded shares of 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $10.05.

Alignment Healthcare Price Performance

ALHC stock opened at $8.70 on Wednesday. The business’s 50-day moving average is $8.47 and its two-hundred day moving average is $6.86. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a market capitalization of $1.66 billion, a P/E ratio of -10.36 and a beta of 1.43. Alignment Healthcare has a 1 year low of $4.46 and a 1 year high of $10.16.

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

Insider Buying and Selling at Alignment Healthcare

In related news, insider Christopher J. Joyce sold 16,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $8.01, for a total transaction of $128,160.00. Following the transaction, the insider now owns 422,912 shares of the company’s stock, valued at $3,387,525.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Christopher J. Joyce sold 16,000 shares of the 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 completion of 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 filing with the SEC, which is available through the SEC website. Also, insider Dawn Christine Maroney sold 36,700 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $10.01, for a total transaction of $367,367.00. Following the completion of the transaction, the insider now directly owns 1,816,097 shares in the company, valued at $18,179,130.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 247,754 shares of company stock worth $2,338,748. 6.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in Alignment Healthcare by 123.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 36,236 shares of the company’s stock worth $312,000 after purchasing an additional 20,030 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Alignment Healthcare by 18.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,289 shares of the company’s stock valued at $269,000 after buying an additional 4,862 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Alignment Healthcare by 17.9% during the fourth quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock worth $111,000 after acquiring an additional 1,962 shares during the period. Charles Schwab Investment Management Inc. raised its position 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 worth $6,469,000 after acquiring an additional 10,123 shares in the last quarter. Finally, Barlow Wealth Partners Inc. purchased a new position in Alignment Healthcare in the fourth quarter worth $100,000. 86.19% of the stock is owned by hedge funds and other 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.