Alignment Healthcare (NASDAQ:ALHC) Stock Price Target Lowered at UBS Group

Alignment Healthcare (NASDAQ:ALHC) had its price objective lowered by equities researchers at UBS Group from $22.00 to $9.00 in a research report issued on Monday, MarketBeat reports. The brokerage presently has a “hold” rating on the stock. UBS Group’s price target indicates a potential upside of 12.60% from the stock’s previous close.

Several other equities research analysts have also recently commented on the company. KeyCorp decreased their target price on Alignment Healthcare from $28.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, October 9th. Barclays reduced their price target on shares of Alignment Healthcare from $16.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, October 6th. Scotiabank set a $9.00 price objective on shares of Alignment Healthcare in a report on Friday, October 9th. Zacks Research lowered Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Finally, TD Cowen cut their price target on Alignment Healthcare from $21.00 to $12.00 and set a “buy” rating for the company in a research note on Monday. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Alignment Healthcare has a consensus rating of “Moderate Buy” and a consensus price target of $16.82.

Alignment Healthcare Price Performance

Shares of ALHC opened at $7.99 on Monday. The business has a 50-day moving average of $11.15 and a 200-day moving average of $16.43. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.70 and a quick ratio of 1.70. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 42.51 and a beta of 1.14. Alignment Healthcare has a 1 year low of $6.01 and a 1 year high of $25.12.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. Alignment Healthcare had a net margin of 0.89% and a return on equity of 20.02%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the business earned $0.07 EPS. The company’s revenue was up 31.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Alignment Healthcare will post 0.14 earnings per share for the current year.

Insider Transactions at Alignment Healthcare

In related news, EVP Joseph S. Konowiecki sold 23,511 shares of Alignment Healthcare stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $8.61, for a total value of $202,429.71. Following the completion of the transaction, the executive vice president directly owned 1,080,305 shares in the company, valued at approximately $9,301,426.05. The trade was a 2.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John E. Kao sold 385,270 shares of the business’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $12.68, for a total value of $4,885,223.60. Following the sale, the chief executive officer owned 1,223,473 shares in the company, valued at approximately $15,513,637.64. The trade was a 23.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 1,061,967 shares of company stock worth $13,642,490 over the last quarter. 5.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alignment Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in the business. WINTON GROUP Ltd bought a new stake in shares of Alignment Healthcare in the 2nd quarter valued at about $1,164,000. Arizona State Retirement System increased its position in Alignment Healthcare by 15.8% during the 2nd quarter. Arizona State Retirement System now owns 53,553 shares of the company’s stock valued at $1,275,000 after purchasing an additional 7,318 shares during the period. Nykredit A S purchased a new position in shares of Alignment Healthcare during the second quarter valued at about $36,000. Corient Private Wealth LP raised its stake in Alignment Healthcare by 128.2% in the second quarter. Corient Private Wealth LP now owns 136,505 shares of the company’s stock worth $3,250,000 after buying an additional 76,677 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new stake in Alignment Healthcare in the second quarter worth about $755,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

About Alignment Healthcare

Alignment Healthcare, Inc is a technology-enabled Medicare Advantage company focused on providing health coverage and care services for older adults. The company offers Medicare Advantage plans that combine medical benefits with care coordination, wellness support, and other services designed to help members manage their health.

Alignment operates through an integrated healthcare model that uses its proprietary technology platform to support physicians, care teams, and members. Its services include personalized care management, clinical coordination, virtual and in-home support, and member assistance through its concierge-style approach.