Alignment Healthcare (NASDAQ:ALHC) Price Target Cut to $20.00

Alignment Healthcare (NASDAQ:ALHC) had its price objective decreased by Raymond James from $30.00 to $20.00 in a report published on Wednesday, The Fly reports. Raymond James currently has an outperform rating on the stock.

ALHC has been the topic of a number of other reports. The Goldman Sachs Group initiated coverage on shares of Alignment Healthcare in a research note on Tuesday, December 14th. They issued a buy rating and a $20.00 price objective on the stock. Barclays raised their price objective on shares of Alignment Healthcare from $26.00 to $28.00 and gave the company an overweight rating in a research note on Monday, November 8th. JPMorgan Chase & Co. initiated coverage on shares of Alignment Healthcare in a research note on Friday, December 3rd. They issued an overweight rating and a $20.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Alignment Healthcare from a hold rating to a buy rating and set a $12.00 price objective on the stock in a research note on Monday, January 10th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of $23.60.

Shares of Alignment Healthcare stock opened at $8.39 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.30 and a quick ratio of 3.30. The firm has a 50 day simple moving average of $15.46 and a 200 day simple moving average of $17.98. Alignment Healthcare has a fifty-two week low of $8.12 and a fifty-two week high of $28.59.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings results on Thursday, November 4th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The company had revenue of $293.47 million during the quarter, compared to analyst estimates of $276.31 million. Alignment Healthcare had a negative net margin of 16.15% and a negative return on equity of 68.37%. On average, analysts expect that Alignment Healthcare will post -1.2 EPS for the current year.

In related news, Director Atlantic (Aln Hlth) L. General sold 6,259,298 shares of the business’s stock in a transaction on Tuesday, November 23rd. The shares were sold at an average price of $20.11, for a total value of $125,874,482.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Robert Thomas Freeman sold 23,000 shares of the business’s stock in a transaction on Wednesday, October 20th. The shares were sold at an average price of $19.38, for a total transaction of $445,740.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,996,964 shares of company stock worth $140,675,268.

A number of institutional investors and hedge funds have recently bought and sold shares of ALHC. Vanguard Group Inc. lifted its position in Alignment Healthcare by 534.3% in the 2nd quarter. Vanguard Group Inc. now owns 2,512,782 shares of the company’s stock valued at $58,724,000 after acquiring an additional 2,116,624 shares in the last quarter. FMR LLC increased its stake in Alignment Healthcare by 9.4% in the 2nd quarter. FMR LLC now owns 16,835,900 shares of the company’s stock valued at $382,596,000 after buying an additional 1,441,075 shares during the last quarter. BlackRock Inc. increased its stake in Alignment Healthcare by 63.3% in the 2nd quarter. BlackRock Inc. now owns 3,084,738 shares of the company’s stock valued at $72,091,000 after buying an additional 1,196,247 shares during the last quarter. Hood River Capital Management LLC increased its stake in Alignment Healthcare by 129.1% in the 2nd quarter. Hood River Capital Management LLC now owns 1,325,641 shares of the company’s stock valued at $30,980,000 after buying an additional 746,983 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in Alignment Healthcare by 45.5% in the 3rd quarter. Alliancebernstein L.P. now owns 2,220,858 shares of the company’s stock valued at $35,489,000 after buying an additional 693,993 shares during the last quarter. 79.57% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc provides a consumer-centric platform that delivers customized health care to seniors in the United States. It offers medicare advantage plans and health plan options to its partners and patients with customized care and service; and preferred provider organization offerings.

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