Key Points
- CEO John Kao sold 298,000 Alignment Healthcare shares at an average price of $13.88, generating approximately $4.14 million. The Rule 10b5-1 transaction reduced his direct holdings by 27.37% to 790,766 shares.
- Alignment Healthcare reported quarterly earnings of $0.17 per share, beating estimates by $0.04, while revenue reached $1.34 billion, up 31.6% year over year.
- Analysts maintain a “Moderate Buy” consensus with an average price target of $23.60, although several firms recently lowered their targets or downgraded the stock.
Alignment Healthcare, Inc. (NASDAQ:ALHC - Get Free Report) CEO John Kao sold 298,000 shares of Alignment Healthcare stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $13.88, for a total value of $4,136,240.00. Following the completion of the sale, the chief executive officer directly owned 790,766 shares in the company, valued at approximately $10,975,832.08. The trade was a 27.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Alignment Healthcare Stock Down 4.1%
NASDAQ ALHC opened at $13.78 on Tuesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.70 and a current ratio of 1.70. The company has a market capitalization of $2.86 billion, a P/E ratio of 72.53 and a beta of 1.10. Alignment Healthcare, Inc. has a one year low of $13.05 and a one year high of $25.12. The stock has a 50 day moving average price of $19.51 and a 200-day moving average price of $19.40.
Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.04. The company had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.31 billion. Alignment Healthcare had a net margin of 0.89% and a return on equity of 20.02%. Alignment Healthcare's quarterly revenue was up 31.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.07 earnings per share. As a group, equities analysts predict that Alignment Healthcare, Inc. will post 0.17 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have recently weighed in on ALHC shares. KeyCorp restated an "overweight" rating on shares of Alignment Healthcare in a report on Wednesday, June 10th. Raymond James Financial lowered Alignment Healthcare from a "strong-buy" rating to an "outperform" rating and dropped their price target for the stock from $22.00 to $19.00 in a research report on Monday, August 3rd. Zacks Research cut Alignment Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. JPMorgan Chase & Co. decreased their price objective on Alignment Healthcare from $26.00 to $22.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 4th. Finally, Wall Street Zen lowered Alignment Healthcare from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $23.60.
Check Out Our Latest Analysis on ALHC
Hedge Funds Weigh In On Alignment Healthcare
Several hedge funds have recently added to or reduced their stakes in ALHC. Wellington Management Group LLP grew its position in Alignment Healthcare by 167.3% in the 3rd quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company's stock valued at $193,516,000 after acquiring an additional 6,940,277 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab bought a new stake in shares of Alignment Healthcare during the second quarter worth $87,794,000. Bank of New York Mellon Corp purchased a new stake in shares of Alignment Healthcare during the second quarter valued at $87,077,000. Invesco Ltd. boosted its stake in shares of Alignment Healthcare by 122.3% during the second quarter. Invesco Ltd. now owns 4,170,529 shares of the company's stock valued at $58,387,000 after purchasing an additional 2,294,739 shares during the period. Finally, Capital World Investors bought a new position in shares of Alignment Healthcare in the fourth quarter worth about $44,203,000. 86.19% of the stock is currently owned by institutional investors.
About Alignment Healthcare
(
Get Free Report)
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.
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