Alignment Healthcare (NASDAQ:ALHC) Reaches New 1-Year High – Time to Buy?

Alignment Healthcare, Inc. (NASDAQ:ALHC) hit a new 52-week high during trading on Tuesday . The company traded as high as $23.87 and last traded at $23.81, with a volume of 2814345 shares traded. The stock had previously closed at $23.81.

Analysts Set New Price Targets

A number of brokerages have weighed in on ALHC. UBS Group increased their target price on Alignment Healthcare from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. JPMorgan Chase & Co. lifted their price objective on Alignment Healthcare from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, December 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Alignment Healthcare in a research report on Wednesday, January 21st. KeyCorp reissued an “overweight” rating and issued a $28.00 price objective on shares of Alignment Healthcare in a research note on Thursday. Finally, Piper Sandler lifted their target price on shares of Alignment Healthcare from $20.00 to $30.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Alignment Healthcare Price Performance

The firm has a market cap of $4.76 billion, a price-to-earnings ratio of -198.42, a PEG ratio of 6.27 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 company’s 50-day moving average price is $20.03 and its 200-day moving average price is $17.26.

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

Insiders Place Their Bets

In other news, insider Robert L. Scavo sold 69,541 shares of Alignment Healthcare stock in a transaction on 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 completion of the sale, the insider owned 503,014 shares of the company’s stock, valued at $9,426,482.36. The trade was a 12.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Hyong Kim sold 16,506 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $21.35, for a total value of $352,403.10. Following the completion of the sale, the insider directly owned 333,133 shares in the company, valued at approximately $7,112,389.55. The trade was a 4.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 2,103,532 shares of company stock valued at $40,529,538. Corporate insiders own 6.60% of the company’s stock.

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 bought a new stake in shares of Alignment Healthcare in the third quarter worth $33,000. GAMMA Investing LLC increased its position in shares of Alignment Healthcare by 83.8% in the 4th quarter. GAMMA Investing LLC now owns 2,165 shares of the company’s stock worth $43,000 after purchasing an additional 987 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Alignment Healthcare in the 3rd quarter valued at about $53,000. SBI Securities Co. Ltd. lifted its position 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 worth $42,000 after purchasing an additional 2,970 shares during the last quarter. Finally, KBC Group NV bought a new position in shares of Alignment Healthcare during the second quarter worth about $44,000. 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.