Alignment Healthcare (NASDAQ:ALHC) Releases Earnings Results

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) issued its earnings results on Tuesday. The company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14), Briefing.com reports. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The business had revenue of $692.43 million during the quarter, compared to the consensus estimate of $662.11 million. During the same quarter last year, the company earned ($0.19) EPS. The firm's revenue was up 51.6% compared to the same quarter last year. Alignment Healthcare updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Alignment Healthcare Trading Up 0.2 %

Shares of NASDAQ ALHC traded up $0.02 during mid-day trading on Wednesday, hitting $11.73. The stock had a trading volume of 2,522,282 shares, compared to its average volume of 1,021,335. The firm has a market cap of $2.24 billion, a P/E ratio of -15.35 and a beta of 1.47. Alignment Healthcare has a 1 year low of $4.46 and a 1 year high of $12.36. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.61 and a current ratio of 1.61. The business has a 50 day moving average price of $10.62 and a two-hundred day moving average price of $8.69.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 7,074 shares of the company's stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $9.02, for a total transaction of $63,807.48. Following the completion of the transaction, the insider now owns 1,789,023 shares of the company's stock, valued at $16,136,987.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Robert Thomas Freeman sold 8,561 shares of the company's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $10.01, for a total value of $85,695.61. Following the sale, the chief financial officer now directly owns 399,429 shares of the company's stock, valued at $3,998,284.29. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dawn Christine Maroney sold 7,074 shares of Alignment Healthcare stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $9.02, for a total transaction of $63,807.48. Following the transaction, the insider now directly owns 1,789,023 shares of the company's stock, valued at approximately $16,136,987.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 314,940 shares of company stock worth $3,487,014. 6.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on ALHC shares. Stifel Nicolaus upped their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a "buy" rating in a report on Friday, July 26th. KeyCorp initiated coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They issued a "sector weight" rating on the stock. UBS Group lifted their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the company a "neutral" rating in a research note on Wednesday. Barclays upped their target price on Alignment Healthcare from $7.00 to $8.00 and gave the stock an "underweight" rating in a research note on Wednesday. Finally, Piper Sandler reissued an "overweight" rating and issued a $10.00 price target (up previously from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $10.33.

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.