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

Alignment Healthcare (NASDAQ:ALHC) had its price objective raised by stock analysts at Robert W. Baird from $10.00 to $11.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 28.06% from the stock’s current price.

ALHC has been the subject of a number of other reports. Baird R W raised Alignment Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th. TD Cowen boosted their target price on Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $10.00 target price (up from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. Stifel Nicolaus boosted their target price on Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Stephens boosted their target price on Alignment Healthcare from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $10.05.

Alignment Healthcare Stock Performance

ALHC stock opened at $8.59 on Wednesday. The stock has a 50-day moving average price of $8.47 and a 200-day moving average price of $6.85. Alignment Healthcare has a 1-year low of $4.46 and a 1-year high of $10.16. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.23. The firm has a market cap of $1.64 billion, a PE ratio of -10.23 and a beta of 1.43.

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

Insider Transactions at Alignment Healthcare

In other news, insider Christopher J. Joyce sold 16,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $8.01, for a total value of $128,160.00. Following the transaction, the insider now owns 422,912 shares in the company, valued at approximately $3,387,525.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Robert Thomas Freeman sold 38,858 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $10.01, for a total value of $388,968.58. Following the transaction, the chief financial officer now owns 414,429 shares in the company, valued at $4,148,434.29. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christopher J. Joyce sold 16,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $8.01, for a total value of $128,160.00. Following the completion of the transaction, the insider now owns 422,912 shares in the company, valued at approximately $3,387,525.12. The disclosure for this sale can be found here. Insiders have sold 226,554 shares of company stock worth $2,154,152 in the last 90 days. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Alignment Healthcare

Several institutional investors have recently bought and sold shares of ALHC. Deerfield Management Company L.P. Series C lifted its stake in Alignment Healthcare by 31.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock valued at $85,250,000 after purchasing an additional 2,630,788 shares during the last quarter. William Blair Investment Management LLC lifted its stake in Alignment Healthcare by 94.4% in the second quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock valued at $24,279,000 after purchasing an additional 1,507,759 shares during the last quarter. Hood River Capital Management LLC lifted its stake in Alignment Healthcare by 49.6% in the first quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock valued at $14,487,000 after purchasing an additional 968,637 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Alignment Healthcare by 283.9% during the first quarter. Assenagon Asset Management S.A. now owns 315,629 shares of the company’s stock worth $1,566,000 after acquiring an additional 233,417 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Alignment Healthcare by 16.8% during the second quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock worth $12,245,000 after acquiring an additional 225,000 shares in the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Company Profile

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.