Alignment Healthcare (NASDAQ:ALHC) Price Target Raised to $21.00 at Piper Sandler

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) had its price target raised by research analysts at Piper Sandler from $14.00 to $21.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's price target indicates a potential upside of 41.03% from the stock's current price.

A number of other equities analysts have also commented on the stock. William Blair reiterated an "outperform" rating on shares of Alignment Healthcare in a report on Friday, February 28th. Stephens reiterated an "overweight" rating and issued a $17.00 price target on shares of Alignment Healthcare in a research note on Monday, February 24th. Stifel Nicolaus raised their price objective on Alignment Healthcare from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Barclays lifted their price objective on Alignment Healthcare from $8.00 to $9.00 and gave the stock an "underweight" rating in a report on Friday, February 28th. Finally, Bank of America increased their target price on Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Alignment Healthcare has a consensus rating of "Moderate Buy" and a consensus price target of $14.83.

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Alignment Healthcare Stock Down 2.4 %

Shares of ALHC traded down $0.36 during mid-day trading on Tuesday, reaching $14.89. 2,651,111 shares of the stock traded hands, compared to its average volume of 2,077,493. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of -19.34 and a beta of 1.49. The stock has a fifty day simple moving average of $13.89 and a 200 day simple moving average of $12.14. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare has a 12-month low of $4.46 and a 12-month high of $16.25.

Insiders Place Their Bets

In related news, CEO John E. Kao sold 554,713 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $15.53, for a total value of $8,614,692.89. Following the sale, the chief executive officer now owns 4,733,664 shares of the company's stock, valued at approximately $73,513,801.92. This trade represents a 10.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Sebastian Burzacchi sold 8,550 shares of the business's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $11.26, for a total value of $96,273.00. Following the transaction, the chief operating officer now owns 217,395 shares of the company's stock, valued at $2,447,867.70. This represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,760,756 shares of company stock valued at $26,490,627. Company insiders own 6.60% of the company's stock.

Institutional Investors Weigh In On Alignment Healthcare

A number of hedge funds have recently added to or reduced their stakes in the stock. Creative Planning increased its holdings in shares of Alignment Healthcare by 20.0% in the 3rd quarter. Creative Planning now owns 12,442 shares of the company's stock worth $147,000 after acquiring an additional 2,072 shares during the period. Principal Financial Group Inc. increased its stake in shares of Alignment Healthcare by 1,335.1% in the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company's stock valued at $2,294,000 after purchasing an additional 180,522 shares during the period. Royce & Associates LP bought a new stake in shares of Alignment Healthcare during the third quarter valued at approximately $3,782,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Alignment Healthcare during the third quarter valued at approximately $131,000. Finally, Intech Investment Management LLC acquired a new position in shares of Alignment Healthcare during the third quarter worth approximately $315,000. 86.19% of the stock is currently owned by institutional investors.

About Alignment Healthcare

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.