Alignment Healthcare (NASDAQ:ALHC) Sets New 12-Month High – Still a Buy?

Alignment Healthcare, Inc. (NASDAQ:ALHC)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $23.20 and last traded at $22.7750, with a volume of 625365 shares traded. The stock had previously closed at $22.74.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ALHC. JPMorgan Chase & Co. boosted their target price on shares of Alignment Healthcare from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 17th. Wall Street Zen lowered shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a research report on Saturday. Piper Sandler lifted their price objective 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 upped their target price on Alignment Healthcare from $18.50 to $25.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Finally, UBS Group raised their price target on Alignment Healthcare from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.86.

Alignment Healthcare Stock Up 1.0%

The firm has a market cap of $4.60 billion, a price-to-earnings ratio of -191.42, a PEG ratio of 5.92 and a beta of 1.16. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.99. The firm has a fifty day moving average price of $19.46 and a 200-day moving average price of $16.98.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Thursday, October 30th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. Alignment Healthcare had a negative return on equity of 16.23% and a negative net margin of 0.57%.The firm had revenue of $993.70 million for the quarter, compared to the consensus estimate of $980.90 million. During the same period in the prior year, the business posted ($0.14) earnings per share. The firm’s revenue for the quarter was up 43.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Insiders Place Their Bets

In related news, insider Christopher J. Joyce sold 10,611 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $20.03, for a total value of $212,538.33. Following the completion of the sale, the insider directly owned 297,088 shares in the company, valued at approximately $5,950,672.64. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hyong Kim sold 16,506 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $21.35, for a total transaction of $352,403.10. Following the transaction, the insider directly owned 333,133 shares in the company, valued at approximately $7,112,389.55. This represents a 4.72% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 2,128,532 shares of company stock valued at $40,979,538. 6.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Alignment Healthcare

A number of institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC acquired a new stake in shares of Alignment Healthcare in the third quarter valued at about $33,000. SBI Securities Co. Ltd. raised its stake in shares of Alignment Healthcare by 4,868.9% during the second quarter. SBI Securities Co. Ltd. now owns 3,031 shares of the company’s stock valued at $42,000 after purchasing an additional 2,970 shares during the period. GAMMA Investing LLC lifted its position in shares of Alignment Healthcare by 83.8% during the fourth quarter. GAMMA Investing LLC now owns 2,165 shares of the company’s stock worth $43,000 after purchasing an additional 987 shares in the last quarter. KBC Group NV purchased a new position in shares of Alignment Healthcare in the second quarter valued at $44,000. Finally, Signaturefd LLC grew its holdings in Alignment Healthcare by 142.6% during the 2nd quarter. Signaturefd LLC now owns 3,768 shares of the company’s stock valued at $53,000 after purchasing an additional 2,215 shares in the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

About Alignment Healthcare

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.